New 401K downloads Undeletee-able (and wrong) Placeholders ... HELP!

Jan 10, 2012 3 Replies
I

I am running Quicken 2011 and am fairly adept with its in's and out's from over a decade of use, but this has me stumped.



My company just changed 401K providers, which necessitated a full liquidation of holdings, and new purchases. I dutifully entered all of the this information, and my balances match what the provider shows online.



Nevertheless, when I tried to download to quicken (because that is the only source of pricing), Quicken (after mapping each of the securities from the web site) INSISTS on adding placeholder entries, which then leaves the cost basis as * on all items. It does not actually add any holdings (I have compared my portfolio before allowing Quicken to do this, and after).



Web searches show that Quicken may do this to allocate between employee contribution and employer match, and that these are harmless; but they are not. They have removed any ability to see a return because they destroy the basis.



Does anyone know how to remove these placeholder entries or any other way to download to quicken in a 401K (I understand this is the important part; that 401K does something special) without getting these placeholder entries.



This is driving me nuts; any assistance is greatly appreciated.



Thanks!


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A

I hope you did this right! What do you mean you had to 'liquidate' your holdings? Did you take possession of the funds yourself in your old

401K plan?
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I

Andrew - Thanks for the concern, I did nothing. They sold all the funds in Fidelity, moved the funds to JP Morgan, and bought B.S. funds with no ticker symbols.

However, I am guessing there is no answer to the Placeholder issue, especially if google is to be trusted. I may have solved it, but to be sure I need to wait until the next payday, and see what happens. At the moment, I figured out how to set up the 401K without it adjusting or placeholding, and it dutifully downloading the quotes. Let's see if placeholders come in on the next purchase.

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A

Ah, ok. So actually 'they' liquidated the account. That sounds much better. Too bad you had to move, SOMETIMES if you have more than a few grand, the other 401K custodian will allow you to keep your funds there even if you move away from the company.

Good luck on the placeholders; if you have a problem and with specifics, folks like RC and John here can most likely help.

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