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$95.70 surprise check in the mail

April 27th, 2007 at 05:02 pm

I got a nice surprise today. I got an envelope from Charles Schwab, where I have one of my IRA accounts. I could see through the window that it said "Pilgrim & Baxter" which I thought was a little odd because I sold my Pilgrim fund shares a couple of years ago.

I opened the envelope to find a check for $95.70 for the U.S. Securities and Exchange Commission Fair Fund Distribution. Apparently, this is a fund established by the SEC to compensate investors whose accounts were affected by some trading irregularities (market timing) that went on in the '98-'01 period and my account qualified.

I just need to look into any tax implications from this payment, but I'm sure my accountant will be able to figure that out. All I know is I've got $95.70 I didn't have when I woke up this morning.

4 Responses to “$95.70 surprise check in the mail”

  1. baselle Says:

    Let me guess...you'll put it into more mutual fund shares? Smile

  2. Amber Says:

    What a nice little surprise

  3. Ima saver Says:

    That's a nice feeling!!

  4. disneysteve Says:

    Actually, baselle, I hadn't really thought about doing anything special with the money. I can't reinvest it in the account because it is a traditional IRA that I no longer contribute to. I guess I could send it to my Roth as part of my 2007 contribution because I haven't fully funded that yet for this year. Thanks for making me think about it.

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