Hi, My name is XXXXX XXXXX I’m happy to assist you with your question today.
Yes under the Employee Retirement Income Security Act (ERISA
), retirement plans
can be terminated and contributing employees required to reinvest into , but the the new plan must provide the employee equal or greater vesting and benefits than the old plan. If this is not the case in your matter (i.e., you are losing vesting or benefits in the new plan), I'd suggest you file a charge with the Department of Labor
- Employee Benefits
Security Administration (EBSA
). EBSA will investigate the matter and try to work out a solution with the employer. If a solution cannot be met, then the Department will possibly sue the employer for ERISA violations. If this is something that interests you, I'd suggest you file a charge with EBSA here
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