Employer Stalling Distribution of Profit Sharing Plan

[Suzee]

What is the name of your state? CA

I left my employer due to full and permanent disability 5 years ago. 6 months ago I received a distribution election form and promptly returned it. It stated that I was 100% vested in the plan. I have emailed the benefits coordinator once a week since then, but have still not received payment. It is obvious that they are stalling. I was given the option of rolling the funds over to an IRA, however I elected to have the funds disbursed directly to my self: being disabled has left me with immediate financial hardships.

What legal recourse do I have? Would contacting the Department of Labor help? Is there a legal timeframe in which they must pay me, or can they continue staling indefinitely?

Thank you.

 

[cbg]

How is it obvious that they are stalling? What does the plan document say about distribution? Not all plans allow for immediate distribution, even if you are 100% vested.

 

[Suzee]

I was given and signed a Notice To Participant of Distribution Election.
I also signed a Waiver of Minimum Notice Period because I wanted to take distribution before the 30 day notice period had expired.

This was over 90 days ago. The benefits handler just keeps telling me she is waiting on the Dr. I worked for to contact his broker or CPA.

Is there a legal time frame for this? Should I hire a lawyer? Can anything be done to get my money?

 

[Beth3]

The benefits handler just keeps telling me she is waiting on the Dr. I worked for to contact his broker or CPA.

Who is the "benefits handler"? Someone at your prior place of employment or someone with the investment firm that manages the retirement plan?

 

[Suzee]

First of all, I would like to thank you and everyone involved with this site for being here.
Without it, I would not know where to start.

The benefits handler I refer to is a woman who works for Primark benefits. She has the following initials after her name CPC APA QKA. She contacted me 6 months ago to say I must do something with this money. I have not been employed for over 5 years. All seemed to be going well when they told me I had $2500.00 they owed me, but when they realized that I left due to a permanent disability and the amount increased to over $14,000.00. I think they are stalling.

As of today the handler tells me they need to recalculate due to not paying me prior to Dec. 31 2007 (is this true?) and now I must wait another week for new numbers.

Obviously all the emais saying "the check was in the mail" were untrue if they did not even know the amount.

There seems to be an excuse every week.

Thanks for your help.

 

[Suzee]

Still looking for advice to my original post. I've been asked a few questions, but still no advice yet.

Please help if you can.
Thank You

 

[xylene]

Look, it is obvious they are jerking you around.

You will need an accountant and a lawyer

The accountant, to make sure you were paid the right amount.

The lawyer to go after the underpayment.

 

[Beth3]

I think you should consult with an attorney who specializes in employer-sponsored benefit plans and/or retiree benefits (pension and similar retirement plans.) Frankly, I can't tell WHAT you're entitled to - the answer will be in the Plan Document for the employer's Plan and there usually are special provisions for an employee who becomes disabled, such as immediate 100% vesting in whatever contributions your employer has made.

Sorry but this just isn't something anyone here can figure out without knowing exactly what the employer's Plan specifies.