Schwab Drama
03-27-2023 | 04:37 PM
#1
Thread Starter
Gets Weekends Off
Joined: May 2013
Posts: 317
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03-27-2023 | 04:56 PM
#3
Line Holder
Joined: Sep 2022
Posts: 49
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We literally got an email that our 401ks are separate from Schwab’s assets. If Schwab fails, out assets go somewhere else. It’s a trust.
“The PRAP is a Trust. Its assets are not part of the assets of Schwab. Therefore, if anything were to happen to Schwab's business it would not affect the PRAP, except potentially with respect to uninvested assets as noted below. Your PRAP invested assets would be completely safe if there were any issues with Schwab.”
Just don’t leave assets not invested, which would be dumb anyway.
“The PRAP is a Trust. Its assets are not part of the assets of Schwab. Therefore, if anything were to happen to Schwab's business it would not affect the PRAP, except potentially with respect to uninvested assets as noted below. Your PRAP invested assets would be completely safe if there were any issues with Schwab.”
Just don’t leave assets not invested, which would be dumb anyway.
03-28-2023 | 10:33 AM
#4
On Reserve
Joined: Mar 2016
Posts: 70
Likes: 8
....but Schwab could do better, a lot better, on their usability and website. Maybe I'm just inept but its somewhat difficult to manage the UAL PRAP.
I have had 3 prior 401k plans administered by Fidelity and rolled them into the last one (a different airline's) but won't bring that money to Schwab as-is.
Perhaps time for an improvement or change?
I have had 3 prior 401k plans administered by Fidelity and rolled them into the last one (a different airline's) but won't bring that money to Schwab as-is.
Perhaps time for an improvement or change?
03-28-2023 | 11:10 AM
#5
Gets Weekends Off
Joined: Oct 2015
Posts: 3,195
Likes: 42
From: Gear slinger
....but Schwab could do better, a lot better, on their usability and website. Maybe I'm just inept but its somewhat difficult to manage the UAL PRAP.
I have had 3 prior 401k plans administered by Fidelity and rolled them into the last one (a different airline's) but won't bring that money to Schwab as-is.
Perhaps time for an improvement or change?
I have had 3 prior 401k plans administered by Fidelity and rolled them into the last one (a different airline's) but won't bring that money to Schwab as-is.
Perhaps time for an improvement or change?
03-29-2023 | 08:16 AM
#6
Gets Weekends Off
Joined: Jan 2023
Posts: 117
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Just the second largest bank failure in us history and one of the biggest banks in the western world having to be bailed out (oops I mean, "merge") so far.
03-29-2023 | 12:27 PM
#7
Banned
Joined: Apr 2017
Posts: 4,208
Likes: 6
03-30-2023 | 07:03 PM
#8
Gets Weekends Off
Joined: Sep 2020
Posts: 124
Likes: 0
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