As ERISA and employee benefit lawyers for plan participants, we subscribe to U.S. Department of Labor newsletters, particularly those about employee pension plans and benefits. Here is a message from the Secretary of Labor that is worth passing on:
Before It's Too Late: A Retirement Security Update From Assistant Secretary Phyllis C. Borzi Hello! I'm Phyllis Borzi, Assistant Secretary for the Employee Benefits Security Administration at the U.S. Department of Labor. In the modern economy, most workers are changing jobs and employers many times throughout their career. This makes saving and planning for retirement more complex than it used to be. When heading into retirement, every dollar saved matters. If you've left an employer due to job termination or by changing jobs, it's important that you keep track of your retirement accounts. Whether you've been covered by a traditional defined benefit pension plan or saved through a 401(k) type plan, it is money that you've earned and you want to ensure that it's there for you when you need it. EBSA has useful information about how to rollover savings into a new employer's retirement plan or into an IRA, and can also help you search for retirement savings that may still be held in a previous employer's plan. We have more than 130 trained Benefits Advisors around the country who can give you quick information about these tools and services, provide answers to your questions or assist if you believe you have been inappropriately denied a retirement or any other employee benefit. We are here for you!
So be a smart consumer about your pension plan and employee benefits rights and protections.
