Make Sure Your Employer Isn't Misusing 401(k) Money

If you don't pay attention to your employer's treatment of your 401(k) plan, you might want to start.

After working for around 30 years at the Oak Park, Ill., material analysis firm Chicago Spectro Service Laboratory Inc., engineer Raymond Reinheimer thought he had saved well over $200,000 in his profit-sharing plan.

But when Reinheimer retired some years ago, the money wasn't in his account. He and other employees had gotten phony statements each year that said promised contributions were made into the plan -- even though they really weren't.

To get the money back, Reinheimer had to endure around five years of litigation before he won a settlement. Now, he receives $3,000 per month for his retirement. ...