How does a non-participant go about researching the details of a specific 401(k) plan?

[joel]

How does a non-participant go about researching the details of a specific 401(k) Plan?

[Mike Preston]

On the up-and-up? Or on the sly? If the latter, you might want to apply for a job. If the former, you can get prior 5500's from either FREEErisa.com or directly from the government. Try the company's website, as some companies post things like SPD's. Also, you could try contacting the HR department and seeing if they would be willing to send you a copy of the SPD. However, there is generally no duty to send the SPD to anybody other than participants (there are some exceptions, such as with collectively bargained plans).

If you are looking for financial information, such as what funds are provided and so-forth, that information is generally not available. If that information is provided it will typically be to a reputable firm doing some sort of research, on the basis that it will be kept confidential, not attributed directly to the company when the research is published and where the results of the research will either be provided to the participating company free, or on a reduced fee basis.

You could also try scouring the world for current employees of the firm and ask them for their SPD, benefit statement, etc. Seems like some reporters are pretty successful at getting information this way.

[GBurns]

Find a friendly employee, buy them lunch and ask for help. Other than that follow Mike's suggestions.

I thought that TSA etc sales reps knew all these "tricks" by now.

[Guest asire2002]

Also, if the company is publicly-traded and the plan allows investment in employer stock, the provisions of the plan might be accessible through the Edgar database.

[joel]

Mike,

This is a collectively bargained plan. What is the best way to obtain the SPD?

Joel L. Frank

[Mike Preston]

Contact that administrative office of the collective bargaining unit, I would think.

[GBurns]

It does not matter if it is collectively bargained or not. Some CBAs only specify that the CBA covered employees are allowed to join the Plan. Whether it is the employers general plan or a separate union controlled plan is an issue separate from the CBA.

The best advice so far is to approach either an employee or the Admin office (whether at employer or at union).

[maverick]

Joel, it might help to know why you want the information. My reaction to getting a call asking like this would be to say "Sorry, you're not a participant.".