Legal Question in Business Law in Maryland

Profit Sharing Plans

My last day of employment at my current job is the last working day of the year. According to my employment letter, I am eligible to participate in the profit sharing plan. My boss just told me that I couldn't get it because I would not be here when the payout occurs in February. Do I have a case?

Asked on 12/14/06, 9:31 am

1 Answer from Attorneys

David Lease Smith, Lease & Goldstein, LLC

Re: Profit Sharing Plans

You may have a claim. The question is whether the profit sharing moneys are "earned" on the last working day of the year. If so, the mere fact that the moneys are paid at a later date would not effect your entitlement to the profit sharing. Much depends on the precise terms of your employment letter and the company’s practices. Please contact me directly if you would like to discuss the matter in more detail.

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Answered on 12/14/06, 9:40 am

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