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Financial Planning / Foolish 401(k)s


Subject:  legal? Date:  4/18/1999  1:23 AM
Author:  Amadan00 Number:  1725 of 26155

Dear Fools,

My Union is discussing a new contract with our company and the subject of 401k"s arose. My President asked me for help and in the course of my research I found that one of our sister plants gets a better deal and our own plant management gets a much better deal. A 100% match compared to our 25%. Someone told me that this is a violation of the Employee Retirement Income Security Act of 1974. In that everybody in a particular company has to be offered the same plan. Is this accurate? I've done a fair amount of digging but can't find anything concrete. Can you help? Thanks!
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