Legal Question in Employment Law in Florida

How long can a company take to cash out an ESOP account once you no longer work there and have asked it to be cashed out. I requested it verbally in January, 2010. I was told that they could not cash it out until the end of their fiscal year which was Sept. 30, 2010. What recourse do I have to get them to send me my money?


Asked on 10/07/10, 7:28 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Look at the plan document. You probably have to wait. It uis not at all unusual for there to be a requirement for the fiscal year end to "cash out" (which, by the way, is usually a mistake).

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Answered on 10/13/10, 6:35 pm


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