Many people make regular deposits into their 401(k) plan, which is likely matched by an employer, but have you ever thought deeply about who is responsible for looking after that 401(k) plan? This may be referred to as a fiduciary. There are a lot of stakes involved with the answers to these questions. 
In order to help prepare them for retirement, more than 54 million people in the United States rely on 401(k) plans, but many of these plan participants don’t know how to use them properly or how they work.
A 401(k) plan is essentially a special purpose trust that is generated by your employer to help you save for retirement. The plan trustees or the people responsible for managing it are fiduciaries, meaning that they have a legal responsibility to ensure that the 401(k) plan operates in your best interest. Plan trustees also verify that your 401(k) plan meets the compliance terms of the Employer Retirement Income Security Act, also referred to as ERISA.
All plan participants must be treated fairly, which means that if you identify that someone has violated the fiduciary duties owed to you in your 401(k) plan, you may have ground for a lawsuit. Your 401(k) plan will come with a formal written document, the details, the operation of the plan. The support of an experienced estate planning can help you realize other types of benefits and assets you may have that should be incorporated into your estate plan.