I worked for a non-profit organization for 12 years and because I quit, honorably, they now are saying their retirement plan is ONLY for those who retire at 62-65 and who they choose to offer it to. This is majorly screwing up my retirement plans and I am not sure where to turn. Should I sue? When do I bring legal action? When I am ready to retire? I'm lost.
2007-08-11 11:55:50 · 6 answers · asked by John B 7 in Business & Finance ➔ Careers & Employment ➔ Law & Legal
With any legitimate pension plan there is a "Plan Document". It contains all the details of the plan and how it's structured, who's eligible, how much is to be paid out, etc. You need to get a lawyer. He/she needs to review all the terms of the Plan Document. Only then can you decide if suing will get you anywhere. But do it now - this needs to get addressed sooner rather than later.
2007-08-11 12:15:03 · answer #1 · answered by Angie 6 · 1⤊ 0⤋
You can't sue, because they can set their own rules regarding retirement and you can't demand retirement benefits just because you quit your job.
They are not required by law, to provide retirement benefits AT ALL.
2007-08-12 11:38:18 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
Is what they are saying TRUE? If so , you are out of luck. Do you have the terms of their retirement plan in your original paperwork?
Very few companies offer pensions these days. You have to save for yourself!
2007-08-11 19:03:59 · answer #3 · answered by Anonymous · 1⤊ 1⤋
You need to ask a lawyer, not a bunch of dopes with too much time on their hands.
That being said, I feel for you bro.
2007-08-11 19:02:20 · answer #4 · answered by glenbarrington 7 · 0⤊ 1⤋
Contact your local Department of Labor.
They should know whether or not any laws were broken.
2007-08-11 19:02:43 · answer #5 · answered by mister_galager 5 · 1⤊ 0⤋
consult a lawyer for adivise to see where you stand legaly on this matter.
2007-08-11 19:04:51 · answer #6 · answered by fighting irish 1 · 2⤊ 0⤋