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.
$95.70 surprise check in the mail
April 28th, 2007 at 12:02 am
April 28th, 2007 at 02:51 am 1177728667
April 28th, 2007 at 01:37 pm 1177767449
April 28th, 2007 at 05:31 pm 1177781480
April 28th, 2007 at 08:31 pm 1177792267