Profit Sharing Plan benefits after firing

[FranklinOscar]

My firm has a profit sharing plan. After working there for ten years I was let go last March. I sent my employer two certified letters to end my participation in this plan and to send me any benefits due. I have had no reply as of yet. I am 60 years old. My unemploment benefits have ended and need the money badly.

 

[cbg]

Whether or not you are due anything at all under the profit sharing plan, and if so how and when it must be distributed to you, is determined by the PSP agreement, not by law.

 

[FranklinOscar]

How do I go about getting the PSP agreement?

 

[jacksgal]

You have been given a copy when you joined program. Now FYI my husband once worked for a company that had a profit share program. Whe he left that employer he could not get all his monies until after year end stats were done. This meant the monies he still had coming came several months after he left. This might be your case as well. After all the company cant know its profits until its year end inventory etc is done. You might have to wait till March maybe.