Adding Pension Plans??
Andrew Edwards
adding Investments... which this Pension Plan does not offer. How should I
add this account so it will be tracked properly?
--
Richard Bollar, MVP
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Andrew Edwards wrote in message ...
Andrew Edwards
This my first statement since my company changed the Pension Plan. It's a
new "take it with you and roll it into an IRA/401k or whatever you want if
you leave" plan. The old plan just froze contributions if you left the
company.
Anyway... the plan really doesn't "offer" anything. On the statement it
shows:
1) Opening Balance,
2) Benefit Credits
3) Interest Credits
4) Closing Balance
It does show that an annualized interest rate was applied to the account for
1998 and it's 6.05%, but I have no idea how that is determined (the Pension
offices open 08/31/98 and I guess I could call to find out about that
misnomer).
Also, I won't receive another statement until January 1999 and the Quarterly
after that.
--
Richard Bollar, MVP <bol...@swizzle.com> wrote in message
eh1963i...@uppssnewspub04.moswest.msn.net...
Richard Bollar, MVP
reconcile, you won't have to know much more than the dollar value of the
account.
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Money FAQ at http://www.swizzle.com/msmoney/msmoney.htm
Andrew Edwards wrote in message
<#mcCOdk0...@uppssnewspub04.moswest.msn.net>...
Andrew Edwards
I went into Help and didn't find anything on how to setup a Money Market
account. Any further advice you can give on how to do this.
Thanks!!
--
Richard Bollar, MVP <bol...@swizzle.com> wrote in message
OaRAGjo...@uppssnewspub04.moswest.msn.net...
Richard Bollar, MVP
and select New, then "A new investment". At that point, you can select
"Money Market". You'll want to name it something appropriate and use that
Investment when you add transactions to your retirement account.
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Andrew Edwards wrote in message
<#LBFvv70...@uppssnewspub04.moswest.msn.net>...
Robert Karp
>A Money Market is a type of investment. If you go to the investments area
>and select New, then "A new investment". At that point, you can select
>"Money Market". You'll want to name it something appropriate and use that
>Investment when you add transactions to your retirement account.
Sorry to stick my nose in here at this late date but I don't totally
agree with Richard's advice. A Money Market account is no different
than any other Investment Account other than that Money 99 assumes the
share price is a constant $1. If you set your pension plan up as a
Money Market account then Money 99 won't identify it as a Retirement
Account. You can accomplish 100% of the benefits of Richard's
suggestion just by setting your Pension plan up as a retirement
account. Use Money's "update" feature to enter your Pension plan
statement information (just click on "update" in the lower left hand
corner of the register screen). Just enter $1 as the ending share
price each time you update the account. You will need to assign a
name to the fictitious "investment" you hold in the Pension account
but any descriptive name will do. Everything will work the same as
with Richard's suggestion except that now Money 99 will know this is a
Retirement Account, which is tax-deferred, and it will treat it
accordingly in your Lifetime Plan.
Richard Bollar, MVP
using that investment in a retirement account. If you have an institutional
account, or for some other reason the plan provider doesn't provide NAV
information, setting up the investments with the money market class
simplifies reconciliation.
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Robert Karp wrote in message <35e93ac...@msnews.microsoft.com>...
Robert Karp
>Money Market Investment, not Account. Money won't have a problem at all
>using that investment in a retirement account. If you have an institutional
>account, or for some other reason the plan provider doesn't provide NAV
>information, setting up the investments with the money market class
>simplifies reconciliation.
Oops! Good clarification. Sorry.