What to do when your previous employer fails to send you your ESOP distribution?

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What to do when your previous employer fails to send you your ESOP distribution?

Asked on January 4, 2011 under Employment Labor Law, Louisiana

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

ESOP distributions (employee stock ownership plan) are a great benefit to have but only if you get paid.  You need to check with your company's personnel department or ESOP distributions division to determine why your payment has been delayed.  If your contract allowed you as a former employee to continue to have stock in the company and be able to obtain distributions, you need to file a complaint with the department of labor or securities division in your state if you get nowhere with the company itself.  Keep in mind, you need to keep accurate records and make sure you know the exact amount owed to you.


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