ERISA (The Employee Retirement Income Security Act of 1974) is a federal law that establishes the minimum standard for voluntarily employment retirement plans. At its core ERISA establishes a fiduciary duty between your employer, the plan that they establish, and you. This means that the employer, the plan that they create and those that they employ to manage and run it; and the funds and investment options offer, will act in good faith.
One of the areas of law with ERISA retirement plans that we see in California where violations occur is the employer and those who run it is a breach of a fiduciary duty to run it properly and to disclose cost, fees, and profit sharing arrangements.
If you are an employee in California and you feel that your employer’s retirement plan is not working in your best interest, is violating your rights, is charging excessive fees, and/or damaging your ability to save money for your retirement then you should contact a California ERISA lawyer or attorney to find out your rights.