Schedule a Call

Fill in your details below and we'll have one of our product specialists contact you.

SCHEDULE A CALL

Who’s Keeping an Eye on Your 401(K) Plan?

Have you ever wondered who is responsible for reviewing your 401(k) plan and ensuring that it is working for you? More than 54 million people across the United States rely on their 401(k) plan as their primary method to save for retirement, but many plan participants don’t know who’s responsible for managing it and how to use it the most effectively. 

Identifying who is responsible for your 401(k) plan can help give you greater clarity about working towards your retirement goals. A 401(k) plan, simply put, is a special purpose trust identified by your employer to help you save for retirement. This is overseen by one or more individuals known as plan trustees.

These plan trustees are legally responsible fiduciaries that must make sure that the 401(k) plan operates for the benefit of the plan participants and the participants’ beneficiaries. Furthermore, the plan trustees have to verify that your plan complies with the requirements of the Employee Retirement Income Security Act, which requires that every plan participant is treated fairly. A formal written document should be included with your 401(k) plan about how the plan does operate and the summary plan description can also be a valuable piece of information to review.

Bringing this information to your meetings with your financial planner or your estate planning attorney can help position you to better understand how this will protect your future.

 



Get Your FREE Report Now!

Three Reports Tell Secrets to Paying for Nursing Home Care

Simply enter your name and email to the right to get
your 3 Free Reports that reveal little known secrets to qualifying for Medicaid without going broke.

Plus, receive the Morton Law Firm email newsletter and alerts to upcoming education events absolutely free!



Morton Book

Call Us (601)925-9797 or Email Us

Copyright 2018 Morton Law Firm, LLC | Privacy | Disclaimer | Sitemap