ABA Family Legal Guide

The Rights of Older Americans

Pensions

401(k) Plans and Simplified Employee Pension Plans

Does Employee Retirement Income Security Act (ERISA) apply to 401(k) plans?

In general, the rules that apply to traditional defined contribution plans apply to 401(k) plans. Participants in 401(k) plans have the right to receive summary plan descriptions and annual statements that tell them the amount currently in their 401(k) accounts.