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401(k)profit sharing and bonus plan payouts

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harleyldy31

Guest
i live in delaware. i was part of a permanent layoff back in august with my company. i have money invested in an account called 401(k) profit sharing and bonus plan. i have transfered all of my funds from my 401(k) into another account. i still have over $10,000.00 in the plan called "bonus plan". i have contacted my company of distibuting this money to me since it is privately held stock in the company. the answer i got from this is "we only evalute this stock once a year and it will not be distributed until october of 2002 and it was just evalutade in september". since i am no longer employed by this company, is it legal for them to hold this money for an entire year since i was laid off in august and it has been evaluated since then?
 


racer72

Senior Member
Technically it is their money till it is distributed and they have the say when it can be distributed.
 

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