Conference 7.286::digital_investing

    Just got my Q1 C97 SAVE statement. Something I really don't understand.
    One of the accounts I've invested in is Portfolio 3. The reported
    re3turns for the last three months show a +9.84%. However, my dollars
    reflect a loss for the last three months. I really don't understand how
    this could happen.
    
    Any enlighteners out there?????
    

>>    Just got my Q1 C97 SAVE statement. Something I really don't understand.
>>    One of the accounts I've invested in is Portfolio 3. The reported
>>    re3turns for the last three months show a +9.84%. However, my dollars
>>    reflect a loss for the last three months. I really don't understand how
>>    this could happen.

Did you move a lot of money into this portfolio in March?  The price is higher
at the end of March than at the beginning of January, but it did take a hit
during March (as did many of the 401k funds).

The same thing happened to me, albeit with different funds.

						Brian

    The best performing fund in calendar Q1 was the Templeton Foreign
    (+3.5% on the end of March 31, 1997).  It's hard to mix things
    in portfolio 3 that returned less and get a higher 9.84%.
    Kratz        

    There seems to be a problem with the latest SAVE statement.  Their
    summary of the results for each fund is exactly the same for the last 3
    months as it is for the last 12 months.  I doubt that that was the
    case!
    

>>       <<< Note 350.110 by SCASS1::PARKERDC "c/o Lonesome Dove, Texas" >>>
>>                          -< SAVE Statement Error ? >-

>>    There seems to be a problem with the latest SAVE statement.  Their
>>    summary of the results for each fund is exactly the same for the last 3
>>    months as it is for the last 12 months.  I doubt that that was the
>>    case!

It makes me wonder about the competence of the company managing SAVE if
they can't even catch such a glaring error on the statements.

Garry    

    I called and they acknowledged the error, and were willing to send me a
    new printout if I could remember my account code (which I couldn't :-)
    
    Anyway, here are some of the % for a few of the funds that I have money
    in:
                              Past 3 Months
        Bond Fund		(0.65%)
    	Equity Index Fund	 2.70%
    	Stock Fund A		 0.44%
    	International Fund	 3.48%
    	Stock Fund B		(5.09%)
    
    Any typos and misunderstandings of what I thought I heard over the phone
    are mine.
    
    After I removed my contributions and the company matching
    contributions, my total gain was (drum roll please...) $5.15
    
    					Bob Harris

>    I called and they acknowledged the error, and were willing to send me a
>    new printout if I could remember my account code (which I couldn't :-)
    
Are you saying that they sent account information to everyone with incorrect 
data and are not going to send correct ones unless we ask?

    Re: .113
    
    I called immediately last night and was asked for my name and badge
    number. (I was also asked for my PIN which I thought was very insecure
    and told them so but the benefits-droid at the other end of the phone
    insisted that he couldn't send me a new statement without it.) When
    asked if there was anything else I needed, I said that I expected to
    not have had to ask for a correction. He then blathered for a while
    about how not everyone received incorrect statements and that they
    didn't want to cause confusion by re-issuing everyone's staetments. I
    just hung up, I don't need to tilt at that windmill of blather. 
    
    But the message is, you better call.

Re .114

BE is claiming that only some people received statements with bad
performance summary information, so not only do they not have to 
send out new statements to everyone, they don't have to send them 
at all unless someone notices that the information is bad and calls?
The whole point is to give people accurate and timely information,
and they've failed on accurate.

So far, no one in this conference has mentioned getting correct
performance summary data.  Did anyone here get a statement on which 
the three-month figures did not match the 12-month figures?  And if 
so, did the three-month numbers match those .112 got over the phone?
I'd like to know whether BE is being inaccurate in this regard as well.

-- Andrew

    When you're 401k doesn't turn out the way you like, just
    turn around and sue the plan adminsitrator and use the
    bad statement as evidence of negligence.  They're liable
    for informing you of choices and performance.
    K
    

    mine was wrong!!!

>> So far, no one in this conference has mentioned getting correct
>> performance summary data.  Did anyone here get a statement on which 
>> the three-month figures did not match the 12-month figures?

Mine didn't match; one value was off by 0.01.  :-}

By the way, if you check the beginning and ending prices for Portfolio 3,
you'll see that it lost value over the quarter.  (I didn't calculate the
percentage.)

						Brian

    
    My numbers were exact in both columns, too.  I only wish the results
    were different because of this error.
    
    Lou
    

Mine also contains the error. Perhaps we should complain to whomever in
DIGITAL is responsible for the 401(k) plan. Anyone know who? 

    Mine too!  Also, I do not understand why they lump gain/losses
    in the "Other Account Activity" catagory in the account summary
    section.

Mine was wrong.  This morning I got a message from Reader's Choice stating that a 
correction letter will be sent out.

Rich

Re .122

It looks like everyone's SAVE statement had the same fund return 
information error (repeating the 12 month return in the 3 month column).

The Reader's Choice message said as much, and was sent to all members
"of the US SAVE Plan."  (Corrections to be received within a few days.)

-- Andrew