3. Determine

if any of your investments are provided through an insurance company.

If so, what guarantees does the insurer make? What control does it have

over your investments, and what are its fees? Does it charge if you switch

assets or terminate the investment?

4. If you are

married, learn your plan rights as a spouse. In general, rules exist to

protect spouses' rights. Find out which apply to you.

5. Make sure

your employer offers diverse retirement investment options. How varied

are your options? Can you change allocations at least quarterly, and are

you charged for changes? Must you invest part of your account in employer

securities?

6. Make sure

you receive plan updates on a regular basis. You should receive updates

at least quarterly.

7. If you participate

in an ESOP, find out if and how much your plan is leveraged. Did the ESOP

borrow to buy employer shares? Did share values decrease after the ESOP

borrowed to purchase more employer shares? Did major employers sell shares

to the ESOP just before your employer ran into financial difficulty?

8. Examine

any major plan changes made by your employer. Have changes reduced benefits?

Were any early retirement options cut? Did changes restrict plan benefit

payment options?

9. Be sure

your benefit is determined correctly under the plan. Are all your plan

years recognized? Who and what decide your benefit amount?

10. Realize

you can take legal action if your retirement plan has suffered due to

fiduciary abuse. A fiduciary who violates his duties to a retirement plan

is liable to the plan for related plan losses and gains.

To learn how

ERISA laws can help you reclaim lost assets and protect existing ones,

visit www. erisalawfirm.com.

Back

to Prime Timers Home Page