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Date of Termination as it effects employee distribution rights


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Guest KFN 13
Posted

Former company permits 401K diversification of 10% of total ESOP valuation as calculated on the last fiscal year, Sept. Employee diversification opportunity notification arrived 3/28.

As an employee of 12+ years, I was notified of termination on 3/20 with a final employment termination date of 4/14.

Termination guarantees employee rights to first distribution which can be rolled into an IRA. The company has complied to this.

Based on review of articles of the plan, it is my contention that I am also entitled to the diversification rollover as an active employee not only for all of fiscal 99 on which the diversification value is based but as an active employee for the first half of fiscal 2000 and through 4/14.

I have made my case to the corp, they have not responded. I am interested in knowing if anyone has found himself in the same situation and was able to obtain a rollover resolution from his company.

Am interested in any law, organizations that represent employee ESOP rights.

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