401(k) Pension Right to Know Act of 2002
Last action on May 9, 2002Referred to the Subcommittee on Employer-Employee Relations.
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Summary
401(k) Pension Right to Know Act of 2002 - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to require plan administrators of individual account plans that include a cash or deferred arrangement under section 401(k)(2) of the Internal Revenue Code (401(k) plans) to make semiannual reports to participants and beneficiaries that: (1) fully and accurately disclose the financial health of the plan sponsor; and (2) advise them of the importance of diversifying investment of their plan assets and of the risk of holding securities of any one entity, including employer securities, in their portfolio.
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