Statement On Your 401k ERISA Rights
If you are a participant in a 401k plan (Plan), you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan Participants shall be entitled to:
No one, including your employer, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from exercising your rights under ERISA.
In addition to creating rights for Plan Participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your Plan, called "fiduciaries" of the Plan, have a duty to do so prudently and in the interest of you and other Plan Participants and beneficiaries.
If it should happen that plan fiduciaries misuse the plan's money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court.
If you have any questions about your rights under ERISA, you should contact the nearest area office of the U.S. Department of Labor.
For more information, read: What To Do When The Rules Have Been Broken.
This is for educational purposes only. The information provided here is intended to help you understand the general issue and does not constitute any tax, investment or legal advice. Consult your financial, tax or legal advisor regarding your own unique situation and your company's benefits representative for rules specific to your plan.