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Question about investment? |
through my employer (walmart) i have an account with merrill lynch I recently received a statement that says profit sharing and 401(k) plan on it says current investment value 3144.31 what exactly does that mean and does that money belong to me I really don't understand much i'm at work all the time and I really don't have time to call for help so if anybody knows anything about this i will appreciate the help thanks The value you see is what the account is worth. What you are entitled to when you leave the company is your vested value. Look on the statement for your vested value. Companies either use a cliff vesting (ex. you may be 0% vested til your third year and then 100% there after) or graded vesting (ex. 2yrs service =20% 3 yrs =40 and so on) You may want to read your summary plan document and see the vesting schedule. Also hopefully you are participating in the 401k as well, its a great deal if they match which I am sure Wal mart does. |
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