Profit Sharing Disbursements

[biddly1]

What is the name of your state?I was working in the State of Michigan for an employer who offered a Profit Sharing plan. In March 2005, I voluntarily left that employement. On July 28, 2005, I received a statement showing my total vested amount of the profit sharing plan.

My question is - how do I go about receiving my money? I did not receive any forms with the statement and am not sure what I do at this point. I do not want to keep the money in that company. My ex-boss is the administrator (or his CPA or attorney) of the plan and I do not want to contact him as he is a liar, cheat, and a fraud, as human beings go. Is there a law in Michigan about issues such as this?

Thank you for your advice.

 

[cbg]

The answer to your question depends entirely on the terms of the profit sharing plan.

 

[biddly1]

All I received was a "Summary Annual Report" along with my "Statement of Account". There are no terms listed. Is this up to the discretion of the employer? Should I speak to a lawyer or an accountant?

 

[cbg]

Neither. You should start by talking to your employer.