Many companies offer an employee retirement plan (such as a 401(k) or a SIMPLE IRA plan). These employer-sponsored plans are governed by the federal Employee Retirement Income Security Act (ERISA). The Department of Labor (DOL) has taken an increasing interest in ERISA retirement plans—focusing on the suitability of the investments offered and the costs to participants. If you participate in a company-sponsored retirement plan, it is important to know the answers to the following questions about that plan:
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