International School ISRP account

[Gdlcz]

I want to sue a company that owns my retirement account, they’re multinational, with hq in England, office in California. This was for a job employed at a university in Turkey. The contract states I can transfer this fund to an ‘approved account’ stateside. I have been misled, lied to, and neglected with faulty information and unanswered emails and phone calls for 5 years now (From 2016-2018 they wouldn’t even provide me with credentials to view the account. Only in 2023, when Novia acquired the servicing, did I on my own accord view my account) During which time I have experienced several life events resulting in extreme losses and trauma. One lawyer told me I need a Turkish lawyer. I am doubtful of this. The contract simply states “in the event of a transfer, a member must provide a dated and signed letter in which the individual account is to be paid, with appropriate instructions…a photo ID and proof of address.” This business has simply not allowed me to initiate and execute this. I have the emails and contract to show a pattern of neglect. It is a Vanguard portfolio that can easily be transferred to a suitable account here in the USA.

 

[Zigner]

You likely need to pursue this in Turkey.

 

[zddoodah]

Interesting story. Do you have a question for us?

 

[Gdlcz]

Is this a breach of contract or worse? They’re literally failing every advertised statement on their website abg.net

 

[Zigner]

Is this a breach of contract or worse? They’re literally failing every advertised statement on their website abg.net

One would need to review the contract that you entered into with them. Such review needs the assistance of an attorney - likely in Turkey (as you were previously advised).

 

[Gdlcz]

So the question would be does an American who has a contract with a PLC based in the UK, with office and partners in USA have the ability to sue ie:

• United States: 401(k) Plan Participants May Sue Plan Administrators under ERISA

 

[Zigner]

You're forgetting that the matter took place in Turkey.

 

[Gdlcz]

The Administrator of the ISRP (retirement plan) is not the employer. The Administrator has an umbrella of schools they provide investment services for. All university retirement plan literature refers to the Administrator as held in trust.

 

[Taxing Matters]

So the question would be does an American who has a contract with a PLC based in the UK, with office and partners in USA have the ability to sue ie:

• United States: 401(k) Plan Participants May Sue Plan Administrators under ERISA

While ERISA does govern retirement plans in the U.S., including § 401(k) plans, that by itself doesn't tell me whether you may sue in the U.S. or whether you have a good ERISA claim. It is possible that there may be some claim available under a law other than ERISA, too (for example, there my be UK law that also applies).

The starting place for figuring that out is reading is closely reading the terms that govern the plan. You might be required, for example, to arbitrate the dispute rather than sue in court. If you may sue in court, the terms may specify in which court the claim must be filed or which jurisdiction's law applies. You'd also need to know if there are any particular limits on the time you have to sue that may bar some or all of your claims.

That all assumes that you have a good claim to bring. I can't tell from what you posted what you believe the company did that violated either the applicable law or the terms of the plan (the contract). All you've said really is that you've not had online access to your account for years. I've had Vanguard funds in the past and at least in the U.S. online access was not the only way to get information or initiate transactions. If there were other ways you could have received the information but chose not to avail yourself of those options, that's likely going to be on you. What is your specific claim of what the company did wrong and what damages do you have from it? In other words, what terms of the plan did it breach or what is the applicable law that it failed to follow? What damages did that specific breach or failure caused the loss?

Where do you reside now and how long have you lived there? That may have an effect on at least venue for any lawsuit and that in turn will affect the court rules that would apply to any claim. If you now reside in the U.S. then take a copy of the terms of the plan and any other documents you have to an attorney in your state for advice on what options you have and what it will cost you to pursue them.

 

[Zigner]

Just a note: The OP has already been advised by an attorney who, after reviewing the matter, advised that the OP seek legal advice/assistance from an attorney in Turkey.

 

[zddoodah]

Is this a breach of contract or worse?

Whether it's a breach of contract depends on the terms of your contract. Not sure what "worse" means in this context.

So the question would be does an American who has a contract with a PLC based in the UK, with office and partners in USA have the ability to sue

Of course you have the ability to sue. The issue is WHERE you will have to sue. Determining whether a court in the U.S. will have jurisdiction over the potential defendant is not possible to determine from your post. Also, it's possible that, even if the court has jurisdiction, it might decline to exercise its jurisdiction because of a doctrine called forum non conveniens. I suggest you take the relevant documentation to a local attorney for review and advice, and I suggest you do so ASAP. You indicated that this situation has been dragging on for several years, so it's possible the applicable statute of limitations will expire soon (or may already have expired). Of course, you said you already obtained info from an attorney but doubt that info, so maybe you'll only accept advice/info from an attorney that is favorable to you.

 

[quincy]

If you signed a contract with a Turkish employer (a Turkish University), the contract is more likely than not governed by the laws of Turkey.

Based strictly on what you have said, I tend to agree with the attorney who told you that you will need an attorney in Turkey to handle the contract dispute.

There are several US law firms currently operating in Turkey. You can look through the following US government link to locate an attorney in Turkey who specializes in international contract matters or you can make an appointment with an attorney working at one of the (generally very large) law firms in your area of the U.S. that has an international law division, to personally discuss your situation.

https://tr.usembassy.gov/u-s-citizen-services/attorneys/