MeadWestvaco Corporation Message Board
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MWV - if it continues to
falter because of the worldwide economic downturn and eventually files for bankruptcy will my employee 401k plan be safe and viable or will I lose it all. Comments - yes or no!
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Ifear you may be fortunate ti retain your pension. notice how little has been sent out about that?
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Your 401 will be fine as long as you have a balanced mix of fixed income and bonds to compensate for the volatility of the market. I am a former Mead employee and I still have the Fidelity account from them. In my opinion the Fidelity offering is the best available. Low costs and a nice mix of funds to pick from. I wish you guys the best. Mead was a great company- hope that it turns out well for all.
Conry- 1 Reply to corny_04963
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well put mead WAS a GREAT compny !!!!!!!! look who is running(ruining)it now !!!!!!!!!!
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Your 401K will tank but look for your pension to disappear first. JJ may need to to pay for another relocation like his $750K move last year. You should have yanked that 401K 8 months ago. Sorry...
- 3 Replies to johnnybravo89115
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I'll sort of answer my own q., last time I saw the comparative balnce sheet. ythere was$94mil in prepaid pensions, I say make that the absolute lowest amount.
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To the extent you have your 401k is invested in MWV stock it's pretty much tanked. Even if you diversified it's probably taken a good beating. As far as your pension is concerned, unless you're at the very high end, it is insured by a government agency, the Pension Benefit Guaranty Corporation,(PBGC)which insures defined benefit pension plans similar to the way the FDIC insures bank accounts
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i noticed MWV has been selling lots acreage. where is proceeds from the land sales going? pay down debt, upgrade plants, wage increases or what!
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