Legal Question in Employment Law in New York

Hi,

I took a job 2 years ago and one of the deciding factors was the retirement plan. Now, I am leaving due to many issues. Hence, I contacted the bank where our retirement funds are and they informed me that I only own 20% of it! No one ever told me (and it is not in my contract) that it was a vested plan. Do I have a legal case to get back the rest of the money (about $35,000)?

Thanks,

Even More Disgruntled


Asked on 8/11/10, 6:18 am

1 Answer from Attorneys
Randall Brett Law Office of Randall P. Brett

Take a look at the documents you signed when you first enrolled in the retirement plan. Likely, you were given the papers and signed them sometime during your first week of work. These documents should spell out the vesting schedule of the company's contributions. You always own your own contributions (if any) to the plan, as well as the earnings on your contributions. If you have any questions after reviewing the documents, you should talk to your company's human resources department or the benefits department. If you are still unclear or are dissatisfied with the answers, you should consult with an attorney experienced in employment law and benefits plans.

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Answered on 8/16/10, 7:06 am


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