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URL:  http://boards.fool.com/are-pension-plans-secret-13011787.aspx

Subject:  Are Pension Plans Secret? Date:  7/27/2000  9:53 AM
Author:  millerpim Number:  23713 of 76237

My company (read: president/ceo) has revamped our pension plan, to which it contributes 6% of each employee's annual salary twice a year. At a so-called pension plan meeting--presented by some insurance agent who didn't give anyone his full name or business card--employees were given a 5-year rate of return chart and asked to select from this menu certain investments.

Now that I'm partially vested in this plan, I asked my employer for a prospectus on each fund. I can't seem to get one. I looked up the investment firm (Mass. Mutual) on the Web and discovered it doesn't have a record of me or my S. S. #. I did find, however, two of the investments I had selected. The other two are not listed. The two listed invest in mutual funds. Yes, it's a mutual fund that buys mutual funds and charges a 1% management fee, which I figure is probably in addition to mgt. fees paid in the underlying funds.

I'm not saying there is something "fishy" going on. I simply want to track my investment portfolio and rate its performance. But if there is something fishy going on, how would I find out?

Doesn't the company have to give me a prospectus?

Now I hear my company plans to revamp the pension plan program again because we have an in-house insurance agent through whom it can receive commissions.

How much am I legally entitled to know about my company's pension plan and my status? If I can't get this information from my employer, where else can I get it? I am really at a loss here. Thank you.

elizabeth@pimn.org
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