401k question: is your employer required to give you an information packet detailing the information? | 401k Questions

Question

Asked 6/25/2007

401k question: is your employer required to give you an information packet detailing the information?

I started the 401k with my employer about 6 months ago. I have had questions about it though so I've been asking my employer for something detailing all the info. I have asked several times and received nothing. The 401k is set up through a third party company, but on their website under "detailed information about your plan" it refers me to my employer. I keep asking and asking but getting nothing. I initially just wanted to know how long the vesting period is (which I now know) but I don't see why I can't get a detailed pamphlet outlying my plan. Is it required?
"You most likely were asking the wrong person."
No, I asked the CFO, who handles the 401Ks.
by the way this is a small company, 100 employees
No HR department, No handbook.

Answers

Answer 1/5 - Submitted 6/26/2007

Hi. You use the word "required" so I won't comment on that one. But, a conscientious employer will give the info you seek to you with/without you asking for it.

My company gave me basic 401k info in my employee packet (Day One information). However, my company's HR and Benefits office handles our 401k matters and is the liaison between me and the investment firm (e.g., processes the paperwork to startup the account and EFT - my input is my fund choice and EFT amount per pay period).

You may want to query your HR and/or Benefits office at work or via email (but use the "read receipt" option to your advantage). If they can't help you, go up the chain to VP of HR and I'm certain you will get the info you deserve from them. Good Luck!

Answer 2/5 - Submitted 6/26/2007

I'm not sure but I would think that it is. I received one from my company. Do you know who the third company party is? If you do, try contacting them. If not, I'd be wondering what is going on.

Answer 3/5 - Submitted 6/26/2007

You most likely were asking the wrong person.

Answer 4/5 - Submitted 6/26/2007

At the very least, there should be an employee handbook. This should detail all of your benefits plans (including your 401k). Talk to your HR person about where/how to receive your copy. This information should not be a secret, you have every right to know.

Answer 5/5 - Submitted 6/26/2007

By law you are entitled to copies of the legal documents that set up the plan. Most people would not be able to read them. Did the website for the company that administers the plan have a phone number? You could try calling them and asking for help.

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