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Asked 11/7/2008
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Stopping 401K plan by employer Employer will be stopping 401K plan the end of this month. Only received notification of this 2 weeks ago. Have not received statments for 12 months because employer asked financial company to not send them. Employer found out 12 months ago that he was required by law to offer 401K plans to part-time employees who were qualified. Therefore, he just paid a hefty fine and now must distribute all monies entitled to part-time employers as if they had a 401K plan for the last 6-7 years. Question is this -- do I as a full-time employee have any legal recourse as to the legality of employer not informing me of his not offering a 401K plan anymore and not receiving my statements for the past year? |
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