Retirement savings plans can help employees prepare for the future. If an employer offers a retirement savings plan, federal law sets rules to help protect the interests of workers and retirees. The U.S. Department of Labor provides information and tools to help both employees and employers understand their rights and responsibilities.
If you're an employee
If you participate in a private-sector retirement savings plan, federal law helps protect your interests. The Department of Labor offers information and online tools to help you understand your rights, learn about retirement plans, and find answers to common questions.
If you're an employer
If you choose to offer a retirement savings plan, you have responsibilities under federal law. You are responsible for protecting the interests of workers and retirees who participate in the plan. Even if you hire a third-party service provider or use an internal committee or human resources department to manage the plan's day-to-day operations, you still have fiduciary responsibilities.