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I participated in an ESOP with my former employer. I was…

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I participated in an...

I participated in an ESOP with my former employer. I was there over 10 years and fully vested. 5 years has past since departing the company and I've not received any distribution nor has the ESOP trustee informed me of the company's intent to distribute in any way. According to the plan docs they have to pay me out fully between the anniversary of the 5th year and 7th year. I can wait another 2 years, but I'd like to roll these funds into the ESOP of my current employer sooner rather than later. What is my best recourse?

Lawyer's Assistant: Have you discussed this with a manager or HR? Or with a lawyer?

The trustee let me know she was leaving the company and sent me the new POC for the ESOP. We never discussed distribution. I've never discussed with an attorney.

Lawyer's Assistant: Are you an "at will" employee? Do you belong to a union?

At will

Submitted: 1 month ago.Category: Employment Law
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Answered in 1 day by:
3/19/2018
Employment Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Employment Law
Satisfied Customers: 21,323
Experience: B.A.; M.B.A.; J.D.
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Employment Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

Kindly note that I just came across your post. I do not have control over the question list or the promises made to you by the site as to the response time. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

Kindly give me a few minutes to prepare my response.

Thank you for your patience.

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Employment Lawyer: Phillips Esq., Attorney-at-Law replied 1 month ago

You need to contact the current Trustee if she is there about the distribution or about requesting for your distribution now to be rolled over to another ESOP. If the Trustee has already left, then you need to contact the new Trustee about your concerns.

Best wishes,

A 5-star positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating. However, that is how I get paid for answering questions on this site.

Thank you for your cooperation.

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