Do I have a right to know where my profit sharing plan is invested?
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Do I have a right to know where my profit sharing plan is invested?
My company has a profit sharing plan . Employees do not get reports as to where the trust is invested.We get only 2 pages once a year. One is the summary plan report and the other is an individual statement. We have no idea where the money invested.
Asked on July 9, 2012 under Employment Labor Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Under federal and state law and employee who is part of a 401 k or company pension plan is entitled to get periodic updates as to the plan from its trustee and an annual earnings report as to it.
I would speak with your company's human resources department about your right to have access to this required information.
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