The adjustments—which have occurred already at some plans but are under consideration at many more, consultants said—are in response to new rules for money-market mutual funds that will take effect in October. “Prime” money funds that buy both corporate and government debt will be required to charge redemption fees if they are swamped by withdrawals amid market turmoil. They also will be required to set up procedures to suspend redemptions in some cases.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
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