UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: klf Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: ESOP Rules Date: 11/15/1999 10:02 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I work for a division of an "employee owned" firm. Part of our retirement plan is a company ESOP program in which a percentage of our salary is given to us once a year in company shares. As we are "private", an independent accounting firm valuates the shares once a year, and we get letters informing us how much our shares are worth. Our division is now up for sale, and we are being told that the company keeps the ESOP shares, and we are to contact the company at retirement, at which point we are entitled to the shares at the then current valuation. I thought that the rules for ESOP's state that within 5 years of separation from the company, the former employee must be offered the opportunity to cash out of the plan and roll the money into another retirement vehicle. Anyone have any info. on this?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement