entitled to full compensation?

[posey1980]

What is the name of your state?What is the name of your state? ny

does a company have to file their policy on payout of profit sharing? I will be leaving as of Jan 16, and I'm trying to find out if my company will be required to pay my profit sharing. Judging from the text in the current benefit handbook, I seem to be entitled, however I have been told by numerous coworkers that they will not payout if I'm not employed on the date of distribution in Feb. (I have not discussed with HR yet as I want to be fully prepared and knowledgeable beforehand)...If their benefit handbook states an employee is eligible (1 yr qualifying service as of Dec. 31), can they change their policy at any time? If so,Do changes need to be filed externally? If all documentation supports my being eligible, Do I have a leg to stand on if they deny me and I try to take legal action? I am very concerned becaue profit sharing is considered a significant part of compensation at this company and if I put the work in I would think I should be eligible for all compensation, be it salary or my profit sharing...but I know that I can't just go by what's fair!

 

[cbg]

No one can answer this question who has not read all the documentation pertaining to the profit sharing agreement. However, many companies will not pay out such bonuses to anyone who is not employed on the day of the payout, and in most states that is legal.

It's going to come down to the exact wording of the agreement. Show it to a local attorney.