- 4) Know your rights: Investment plans are overseen by the Department of Labor who oversee ERISA, the law that governs defined contribution plans. While companies are not obligated to provide retirement plans, those that do offer them are obligated to maintain detailed rules of the plan. “By providing a 401(k) plan the employer has a fiduciary role,” says Brown. “This includes choosing the investment manager, choosing investment options and monitoring the performance,” The investment options your company offers should be diverse.
5 Steps to Improving the Investment Options in Your Employer’s 401(k) Plan
Here's how to get your employer to explore more 401(k) options