Legal Question in Employment Law in Georgia

Bonus Payout/IRA matching

My previous employer and the owner are unwilling to pay bonuses/ownership and IRA contribution matching to me upon

termination of employment. My employment ended as of May 5, 2009 in a mutual agreement between I and the owner.

The bonuses were initially held in an account in my name, but the owner and I agreed these bonuses would be transferred

into 5% ownership in the company. The contract was written and distributed, but never signed by either party. The

agreement was verbal. Further, I was issued a tax K-1 form for my percentage ownership (5%).

Also, I made contributions of 3% of salary to IRA last year, and the company was to match anything up to 3%. I also made

the same 3% contributions this year for my 5 months of employment in 2009. For 2008 my contributions were

transferred to my account, but I have not received the matching. For 2009, I have not received either contribution or

matching. I expect that matching will not come until the company files its taxes for this year.

What are my options in order to pursue getting what is owed to me?


Asked on 5/13/09, 9:34 pm

1 Answer from Attorneys
Gregory Fidlon Law Offices of Gregory R. Fidlon, P.C.

Re: Bonus Payout/IRA matching

You mention that your employment recently ended in a "mutual agreement." Was the agreement written? If so, were any of these issues addressed? If not, you can still sue for breach of the verbal agreement, but you will have to prove its existence. It sounds like you may have some documentation to rely upon. You should consult with an attorney, such as myself, specializing in labor and employment law. If you are interested, please contact me using the information in my profile below. I would be happy to offer you a free telephone consultation.

This response is for informational purposes only and does not create an attorney-client relationship.

Read more
Answered on 5/13/09, 9:54 pm


Related Questions & Answers

More Labor and Employment Law questions and answers in Georgia