Help me understand my benefits ....

[Guest califlefty]

Hi,

I am a former employee of a company that has an ESOP plan which was formed during my last year of employment. I resigned 5 years ago and was 100% vested immediately. So this year I am finally due my 1st payout. I just received my annual certificate that shows what my shares are worth, and this year there is a line item theat reads:

"Shares of Forfeitures" with an NEGATIVE amount that represents about 35% of my account!

In the past this amount was a buck or two, now its over $4,000.00. Can someone explain to a total novice what this is and why I'm getting shafted?

Thanks!

[stephen]

califlefty,

Are you sure you were 100% vested in your ESOP account? It seems as if once you hit your 5th Break In Service that the nonvested portion of your account was forfeited which could be the -35% you are seeing leave your account.

We would need more information to help you ascertain what happened to your account.

You may be better served by reading your Summary Plan description or contacting the Human Resources director at your former company and having them explain what happened to your account. Perhaps you received a distribution packet along with your annual statement that includes additional information.

[Guest califlefty]

Apparantly, I only had 4 years of service, thus the "forfieture"

Thanks