by Grace W. Weinstein

The value of investments within many 401(k) plans has declined along with the stock market.

As the market rebounds, so should these retirement savings. But some workers face more lasting erosion of their retirement nest eggs as the result of corporate wrongdoing. CPA Ed Slott, editor of Ed Slott's IRA Advisor, notes that this is not a new problem, but "with all the recent corporate scandals, it takes on new relevance."

If you participate in a 401(k), pay attention to these warning signs from the U.S. Department of Labor:

• Your account statement is consistently late or comes at irregular intervals.

• Your account balance does not appear to be accurate.

• Your statement shows a significant drop in account balance that cannot be explained by normal market ups and downs.

• Your employer fails to transmit your contribution to the plan on a timely basis - or, worse, makes the payroll deduction but fails to transmit it at all.

• Your statement shows investments that you did not authorize.

• There are unusual transactions such as a loan to the employer, a corporate officer or one of the plan trustees.

• There are frequent and unexplained changes in investment managers or consultants.

• Former employees are having trouble getting their benefits paid on time or in the correct amounts.

• Your employer has recently experienced severe financial difficulty.

If you suspect problems, you may want to suspend further contributions until you satisfy yourself that everything is okay. If there is actual wrongdoing, you may want to file a complaint with the Department of Labor's Pension and Welfare Benefits Administration. The DOL will not intervene on an individual complaint, but does note patterns of misbehavior and then takes action.

For more information on 401(k) and other pension issues, see the Department of Labor's free booklet, "Protect Your Pension." Call 800-998-7542, or order online at www.dol.gov/ebsa/pubs/protectect/guidetoc.htm.