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Ray, Employment lawyer
Category: Employment Law
Satisfied Customers: 42851
Experience:  30 years in Employment law
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I quit a Midwest Minnesota based company in 1981, after 26

Customer Question

I quit a Midwest Minnesota based company in 1981, after 26 years and in upper management for 15 of those years, the retirement plan was never exposed to me in writing that I can remember, but was told that I would never have to worry about living well or educating my children?, I managed sales and distribution for a multi sate area, approximately 6 years after I quit I received a letter requesting me to sign or get an attorney, I signed it and received approximately $7000 , when I reached retirement age , my pension was $200, per month, I'm wondering if my , then co workers, were treated the same?
Submitted: 1 year ago.
Category: Employment Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

Expert:  Ray replied 1 year ago.

The problem you have her is that you signed a release here and accepted the cash and a monthly amount.This and the fact it has been so many years likely prohibits you from challenging this matter.I understand this is frustrating for you when there were promises made here.

Likely their were others and they got similar offers for buy outs.Many pension funds at some point offer these buy outs to reduce their liabilities.Please don't shoot the messenger.I think you probably made the best decision you could at the time.Since you accepted rather than sue here the time to do so would have passed here under statutes of limitations and the release you signed.

Again I understand this is frustrating but I don't see that would have any chance to relitigate this.There may have been some co workers that sued here rather than settle but usually like you they lack the ability to pay for litigation and they take the deal was well.

I appreciate the chance to help you today.Thanks again.

Expert:  Ray replied 1 year ago.

I think you made the right choice here, you got something, others may have got nothing if they refused the offer.I know it is easy to look back but this got you something, you could have spent years in litigation and not got anything.

If you can positive rate it is much appreciated.Have a great labor day.