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What information and reports is my employer required to give me on my 401k? Answer: Your employer must provide you with a Summary Plan Description (also called an SPD) and an annual statement of your account information. You also have a legal right to ask the plan administrator for the plan's latest Form 5500 or Form 5500-C/R. You also have the right to ask for a copy of the summary plan description, the plan document, the trust agreement setting up the plan, if separate from the plan, and any collective bargaining contract, if appropriate, any other instrument under which the plan was established or is operated. Make all requests for plan documents in writing. You may have to pay reasonable copying costs. In addition, you will often be provided a prospectus for every fund offered in the plan, but this is not legally required. If your company's stock is offered in the plan you are required to receive a prospectus on the company stock fund. This is for educational purposes only. The information provided here is intended to help you understand the general issue and does not constitute any tax, investment or legal advice. Consult your financial, tax or legal advisor regarding your own unique situation and your company's benefits representative for rules specific to your plan. |
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