Chambersburg, PA asked in Business Formation and Employment Law for Pennsylvania

Q: Can your employer LEGALLY control where you can place your private IRA investments? The employer is worried about ...

..."Apparent" conflicts of interest with companies in which they have performed auditing work for in the past or plan to work for in the future. I do not work in the auditing branch of the company. They have threatened termination of any employee who does not comply. My company is an international company so its very big and has a lot of clients which limits your potential investment options.

1 Lawyer Answer
Peter N. Munsing
Peter N. Munsing
Answered
  • Wyomissing, PA
  • Licensed in Pennsylvania

A: I suggest you get a list from them. It seems like it would be a violation of them to tell you who you may and may not invest with. But then the question is do you want to fight now, or go with it move your IRA as soon as you are out of there, or use another investment vehicle?

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.