Legal Question in Employment Law in Pennsylvania

Retirement Plan Selection

I began working full time when I graduated from high school at the age of 17. When I started my job (in PA), I had to decide between one of two retirement plans my company was offering. Being so young, I depended on the advice of my HR Rep; however, now being older, and still working at the same company after several years, I now wish that I would have elected the other retirement plan my place of employment offers. I requested to change my retirement plan; however, I am told that my initial decision is final and binding. Because I was not of the Age of Majority for my state (PA) at the time of making this decision; would I be bound to my initial decision, I made at 17. I understand that since I made the decision as a minor, I did not have the legal capacity to enter into a binding contract and thus this disaffirms my initial decision. Thanks for your help.


Asked on 8/19/08, 7:48 pm

1 Answer from Attorneys
Terrence Valko ERISA Disability Lawyer

Re: Retirement Plan Selection

I don't do enough ERISA work to know off the top of my head whether you are correct, but you present with what wh call, "colorable" facts. Might i suggest contacting a harrisburg-area large firm?; one whose attys practice Employee Retirement and Inocme Security Act of 1974 law.

good luck

TV

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Answered on 8/20/08, 9:44 am


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