ABA Family Legal Guide

The Rights of Older Americans

Pensions

Traditional Pension Plans

Once I become a participant, how do I know what my rights are under the plan?

Employee Retirement Income Security Act (ERISA) requires that participating employees be given detailed reports and disclosures. Within either 90 days of becoming a participant or 120 days of the plan's beginning, the employee must receive a summary plan description. This gives details of the employee's rights and obligations, gives information on the trustees and the plan's administration, sets conditions for participation and forfeiture, and outlines the procedure for making a claim and the remedies available to employees who appeal claims that are denied.

A summary of the plan's annual financial report also must be distributed. If you do not receive a summary, you should ask the plan's administrators for it. Or you can obtain one by writing to the U.S. Department of Labor, Employee Benefits Security Administration, Public Disclosure Room, 200 Constitution Avenue NW, Suite N-1513, Washington, DC 20210.