Profit sharing

[booneyjay]

What is the name of your state? Florida

I am wondering if there is a time limit on when you get your profit sharing money after you have been let go of? i ask this because shortly after i was left go i recieved a letter telling me how much i would get and that i would get it in june of 2005. It is now September and the company i worked for still does not know anything about when they are gonna recieve the paperwork for me to sign so that they can send me the check (they have a seperate company do the actual work). I guess i just want to know if there is anything i can do to get my money or if there is any recourse for me not getting it when i was supposed to. Or if someone could point me in the right direction to find out myself. if you need more info just ask.

Thanks for all your help.

 

[Beth3]

"Profit sharing" covers a lot of territory. First we need to define what kind of plan this was.

When employees receive profit sharing money, do they receive a check in-hand that is taxable income to them (i.e. additional wages) or is the profit sharing money deferred into a retirement plan for each employee, such as a 401(k)?