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REDDIT
Empower messed up my "future allocation" that I set back up August 2024. Are they responsible for the market losses since then since they messed up?
↗ https://reddit.com/r/investing/comments/1jsdort/empower_messed_up_my_future_allocation_that_i_set/
We're not talking about a huge sum of money here.
But back on 8/23/24, I reallocated my 401K from 50/50 (50% equity / 50% cash) to 20/80.
They did a reallocation of my current balance, but they didn't modify my future contribution.
I only found that out today while auditing the activities.
So from 8/23/24 up to now, They were allocating my contribution 50/50 rather than 20/80 as I requested. I have screenshots from back then as well as a confirmation number.
In this case, would Empower be responsible for any loss in value of my account due to their mistake?