401(k) club – How safe is your servicer?

[lonestar2000]

Our 401(k) is with Prudential Financial, who’s stock is down nearly 80% this year:

http://www.marketwatch.com/tools/quotes/intchart.asp?symb=PRU&sid=956726&dist=TQP_chart_date&freq=1&time=8

We’re told that our balance is backed by the FDIC, as long as it’s in the guaranteed income fund, but who guaranteed the FDIC? Tax payers, who are already guaranteeing everything else?

How likely is your servicer to go under and what options do you have should it do so? How’s their stock holding up?

[UCGal]

My 401k is managed by Northern Trust… they’re in really crappy shape.

(And they’re getting their hands on some of the TARP money.)

[UCGal]

My 401k is managed by Northern Trust… they’re in really crappy shape.

(And they’re getting their hands on some of the TARP money.)

[UCGal]

My 401k is managed by Northern Trust… they’re in really crappy shape.

(And they’re getting their hands on some of the TARP money.)

[UCGal]

My 401k is managed by Northern Trust… they’re in really crappy shape.

(And they’re getting their hands on some of the TARP money.)

[UCGal]

My 401k is managed by Northern Trust… they’re in really crappy shape.

(And they’re getting their hands on some of the TARP money.)

[Author]

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