Profit Sharing Disbursement Time Frame

[lagilday]

What is the name of your state? New Hampshire

Left job over a year ago after working there 8 years. Fully vested. Received disbursement option package mid April, to be due back by April 29th. I chose to take a taxed direct disbursement rather than a rollover. Filled out the paperwork and mailed bacj before the due date. Three weeks later I contact the HR to find out when I should expect the check and he says that he has not received all of the packages back yet and that the boss wants to wait till they are all back. Why give a due date if he isn't going to follow it? Is there a time line to follow? I already received my 401K. The original 6 weeks after leaving and the balance from 2004 5 weeks ago. How much time do they get? Don't I have rights? Please help!

 

[MATHJAK107]

was the plan disolved by the company or is the the plan still in effect.? if the plan was disolved because the company is going out of business than the employer must wait until all participants return certain paperwork and notices are posted in newspapers for those who had money in the company plan but were no longer wworking for the company and couldnt be located..if the plan is still active then its paid out at the bosses descretion

 

[lagilday]

It is still in effect. As the Executive Assistant to the HR and Controller I used to be the one to do the disbursements. So for eight years they went out immediately upon receipt. If we did not have all of the packages returned we would contact the ex-employee and request their immediate attention. If they still did not respond we would do the ones we had and they would have to wait.
Now that I am no longer employed there the responsibility goes to someone else. I would think that there would have to be guidelines. After all, I have waited over a year. Why should they be making money off the interest when it is rightfully my account? By law I believe they have to send out the option packages within a certain time frame (after the first quarter of the following year?) What I can't understand is why they can now take their time? Doesn't sound right...