What is the name of your state (only U.S. law)? TX.
I worked for a company in TX and I participated in an ESOP (Employee Stock Ownership Plan). Unfortunately, I became disabled in 2008. I receive social security disability. Over the lasy year I have been trying to get the money from my ESOP plan, however I am continually given excuses as to why I am not able to get my money form my plan. This has gone on for 1 year now. I am given excuses from they have to evaluate the stock before I can have access to my ESOP and multiple other excuses and the plan admin. does not return my calls.
I recently sent in my disabilty paperwork given to me by the Social Security Admin. and I also gave them a letter from my doctor showing the admin that I am disabled, but the admin states it is not enough and wants more specific paperwork. I spoke with the Social Sec admin. and they stated what I have (what I gave the ESOP admin) is what the Soc Sec Admin. gives to state a person is disabled. When I read my ESOP plan it states I should of received my money no later than 1 yr. after I my disability retirement.
At this point I do not know what to do. I need this money to go towards my medical needs. Can anyone give me some advice on what the law is and or what can I do to receive my benifits from my ESOP.
Sincerely,
Joe
I worked for a company in TX and I participated in an ESOP (Employee Stock Ownership Plan). Unfortunately, I became disabled in 2008. I receive social security disability. Over the lasy year I have been trying to get the money from my ESOP plan, however I am continually given excuses as to why I am not able to get my money form my plan. This has gone on for 1 year now. I am given excuses from they have to evaluate the stock before I can have access to my ESOP and multiple other excuses and the plan admin. does not return my calls.
I recently sent in my disabilty paperwork given to me by the Social Security Admin. and I also gave them a letter from my doctor showing the admin that I am disabled, but the admin states it is not enough and wants more specific paperwork. I spoke with the Social Sec admin. and they stated what I have (what I gave the ESOP admin) is what the Soc Sec Admin. gives to state a person is disabled. When I read my ESOP plan it states I should of received my money no later than 1 yr. after I my disability retirement.
At this point I do not know what to do. I need this money to go towards my medical needs. Can anyone give me some advice on what the law is and or what can I do to receive my benifits from my ESOP.
Sincerely,
Joe