Collecting Employer Match Contribution
In mid-80's, worked for Psychiatric Facility owned by major US Hospital Chain. Participated in 401K/retirement plan which employer matched up to 4%. Psych Facility was sold.
When attempted to collect all of 401k several years later, was told that because "I had left the company" they would not honor their match. I pointed out that "they had left me, and I stayed in my position without changing". We were never notified that their vested amounts would not be collectable.
Was also told that I could have stayed with their chain of hospitals, but nearest one was 250 miles away and this info was never shared with us.
Can I claim the company-matched portion of my 401K/retirement plan?
Answers (1)
Whatever legal rights you have to the monies at stake depend in large part on the actual wording of the 401k plan. You should get a copy of that plan and take it to an experienced employment law attorney. This is a very technical area of the law and you should be prepared to pay for the legal advice that you seek. There are several very experienced employment law attorneys in the Austin area and you should be able to locate one who can assist you. When you call to make an appointment, however, make sure to let the individual know that this is a problem with a 401k plan because even some of the most experienced employment lawyers do not practice in this technical subspeciality.
posted by Margaret A. Harris | Jul 7, 2003 09:31 AM [EST]
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