737 Pylt
Um....Floats anyone??
- Joined
- Jul 8, 2003
- Posts
- 3,085
I lost over $7,000 out of my 401K, and am growing very tired of this place!
737
Delta Client:
As some of you may have noticed, Delta has made the decision to change the Convertible Preferred ESOP holding in your 401(k) retirement plan to Delta common stock. This was a very real possibility and is, unfortunately, a very common practice. This means that the value of each share of your Convertible Preferred ESOP has dropped to reflect the price of the common stock. According to a Delta retirement plan contact, this decision was made in court December 19th to aid Delta in the bankruptcy proceedings.
The money remaining in the ESOP will be available for transfer to an IRA and, in some accounts, may have the option of receiving a stock bonus upon the transfer. You will all be receiving an information packet from the retirement plan administrators explaining the formulas involved in this bonus structure.
I apologize for being the bearer of this unfortunate news so close to the holiday season. Heritage Wealth Management, as always, will continue to stand along side you and your family, and will help navigate through these difficult times.
Sincerely,
H Wealth Management
737
Delta Client:
As some of you may have noticed, Delta has made the decision to change the Convertible Preferred ESOP holding in your 401(k) retirement plan to Delta common stock. This was a very real possibility and is, unfortunately, a very common practice. This means that the value of each share of your Convertible Preferred ESOP has dropped to reflect the price of the common stock. According to a Delta retirement plan contact, this decision was made in court December 19th to aid Delta in the bankruptcy proceedings.
The money remaining in the ESOP will be available for transfer to an IRA and, in some accounts, may have the option of receiving a stock bonus upon the transfer. You will all be receiving an information packet from the retirement plan administrators explaining the formulas involved in this bonus structure.
I apologize for being the bearer of this unfortunate news so close to the holiday season. Heritage Wealth Management, as always, will continue to stand along side you and your family, and will help navigate through these difficult times.
Sincerely,
H Wealth Management