Change from lump sum to installment

[Guest hanakuin]

I left a Company in 2009 and was due to receive a lump sum this year; 30 days before the lump sum was to be disbursed I received a notification that the plan was modified in 2010 to change the disbursement into installments. Can you really change the plan like that and affect out of service participants about to receive their lump sum disbursement?

[ESOP Guy]

Without more facts no one can tell for sure if it can be done or not. Also, you will find people on this board, me included, are slow to give hard answers questions from people who have a grievance against a company or service provider. We just don't look forward to being dragged into a fight.

Thus, my answer is, "maybe". ESOPs do have a well known exception to the general rule that stops a company from changing its form of payment. Without all the facts one can't know if the exception applies here or not.

I would suggest start by talking to the person in charge of handling the ESOP at the company and just ask your questions in a friendly way. They might be able to answer your questions to your satisfaction if you talk to them.

(my edits were small grammar fixes)