profit sharing

[paul 2]

What is the name of your state? Colorado
My boss,when he brought the place where I worked opened up
a profit sharing program sharing for me.It has been about
7,or 8 yrs ago when he did this
About 3 years ago,I started asking him how much I have,but he keep giving me this excuse that he doesn't know,because he need to figure out how much it is my share.He says,it is in 1 account,which has his name,and his wife,and my name on it.
I keep on asking but he tell me the same thing.
The last time I ask him,he said it is going to take up to a year
to figure it out.
I have no documentation that says I have a profit sharing program,but just his word the it exist.
I wondering if there anything more I can do to get him a moving to find out how much is in there,if even 1 exist.
I called the labor department,and discuss this with a person there,and they offer to call him,but I told them not to yet.
If I have them call.My boss will either fire me,or make it hard on me to be at my job,so I'll quit have to quit.
I don't want to quit,because jobs are hard to find now,but I am looking for another job.
I was wonder,if getting his conversation about the profit sharing program recorded on tape would help me establish that there is actually a profit sharing program for me.
I feel that since I have nothing to prove that 1 exist.He will say
not none exist if I tried other way to find out.
Please advice me
thank you

 

[Beth3]

"I was wonder,if getting his conversation about the profit sharing program recorded on tape would help me establish that there is actually a profit sharing program for me." Maybe. Maybe not. It depends upon exactly what he says. But unless you're sure that Colorado allows for audio taping someone without their consent, it could land you in jail.

Some formal profit sharing plans are governed by federal ERISA regulations IF it's a deferred compensation plan AND the company has filed the appropriate documentation with the DOL and the IRS. Chances are the kind of profit sharing program your boss is talking about is nothing more than a cash bonus plan, is entirely discretionary on your employer's part, and is subject to nothing more than the usual tax withholdings when and if a bonus is paid. The question then becomes whether any statements your boss has made constitute a binding agreement and nobody here can know that. That's not something your state or the federal DOL will get involved with. Enforcing contracts is not within their pervue.

Your best option is to consult with a local attorney - one who specializes in business/contract law.