Legal Question in Investment Law in Illinois
My previous employeer (July 1991- April 2004) had the benefit of a pension/profit plan. My last statement received was for the ending of 2003. It has been over 2 years that I have been asking for my money in order to roll over to my current plan and I continue to receive vague responses like ''we've been advise to freeze distributions''. A co-workder at the company overheard them discussing the fact that they used all the monies from this plan. They consulted a lawyer and found a lope hole to where they could do this because the company was doing poorly. Can they legally do this? What do you suggest I do to recieve my money?
1 Answer from Attorneys
Re: Pension/Profit Sharing
You should retain an attorney if your Pension plan has been misappropriated. The directors are personally liable.