John,

The other John is absolutely correct.  Whatever firm is managing your mutual
funds should be sending you a statement, and frankly it should be coming to
your home.  Many have numbers that you can phone to move your investments
around -- you get a PIN and so forth.  If you haven't received statements,
your exec. or bookkeeper needs to rattle some cages (you should have
received a year-end statement and probably quarterly statements).
Unfortunately you've got to ride out the ups and downs of the funds, and it
is your choice, not the museum's to invest.  Having a retirement fund is
really a benefit.  If the funds they selected doesn't perform well you need
to investigate other options, or request that the museum look at other
funds.  Or of course if something seems peculiar -- then it's time to find
out why.

Candace Perry
Schwenkfelder Library & Heritage Center


----- Original Message -----
From: John Martinson <[log in to unmask]>
To: <[log in to unmask]>
Sent: Monday, July 16, 2001 9:59 PM
Subject: 401K Nonprofit Organizations


> Do any experts on nonprofit organizations know the law or regulations for
a 401K program for a museum organizations?  For example, we have our
personal money going into a 401K account, and the organizations matches up
to 3% of our gross income.  We, however, have not received a statement or
any feedback from our accounts since last August or September (2000).
>
> I believe it is the museum's responsible to report 401K contributions to
the government as well as to the contributing staff members.  How can a
staff member know their contributions or where to shift monies if they
cannot see their account?
>
> With last years great downdrop in the stock market, we lost much because
we were not able to pull out or change or options.  I think some ethical
questions are at stake, and the museum itself can be responsible for this
can't they?
>
> Any suggestions?
>
> Best,
>
> Concerned 401K staff members
>
> =========================================================
> Important Subscriber Information:
>
> The Museum-L FAQ file is located at
http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed
information about the listserv commands by sending a one line e-mail message
to [log in to unmask] . The body of the message should read "help"
(without the quotes).
>
> If you decide to leave Museum-L, please send a one line e-mail message to
[log in to unmask] . The body of the message should read "Signoff
Museum-L" (without the quotes).
>

=========================================================
Important Subscriber Information:

The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).

If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).