Are You Losing Money in Your Retirement Account?
The stock market hit record highs in 2018, yet millions of Americans saw their retirement accounts remain the same. Even worse, many employees found themselves asking, “Why am I losing money in my retirement account?”
Retirement pension plans are an important benefit that many employees are entitled to receive. As the sponsor for your retirement plan, your employer has a duty to make sure that your investment opportunities are reasonable and make sense for your individual case.
Oftentimes, employers do not take their responsibility seriously and end up shorting their employees when it comes to investment options and retirement plans.
So… what should you do if you believe you’re being shorted retirement benefits that you’re owed?
Advice from a Wage & Hour Expert
Transcript: Hey, everybody! Attorney Scott Perlmuter here to talk to you today about your retirement benefits and whether or not you’re being shorted retirement benefits that you’re owed in violation of the law. So, in 2018, as most of us know, the stock market hit record highs, it was almost 27,000 in the month of October, and yet, a lot of us saw our retirement accounts not keep up with the stock market, maybe you were even losing money as the stock market was reaching these highs. At Tittle & Perlmuter, we handle all kinds of employee benefits cases, including those that are in regards to retirement pension plans, and your employer, as the sponsor for your retirement plan, has an obligation to make sure the fees that they’re paying for whoever’s managing your funds don’t exceed a reasonable fee. They also have a duty to make sure that the investment options that you’re provided are reasonable investment options and adequate for your needs as an employee. So, if you have questions about why my retirement account has not been keeping up with the market or why am I losing money in my retirement account, the best thing that you can do is give me a call, 216-308-1522 and we can talk through it. Or, you can visit our website, tittlelawfirm.com that has tons of relevant and helpful information about the laws that govern employee benefit plans and what you should be looking out for. Thank you very much!
Speak with a Wage and Hour Attorney
These types of cases can be difficult. If you have questions about your individual retirement plan and whether or not you’re being shorted benefits in violation of the law, it’s important to talk to an experienced wage and hour attorney.