stevep
06-24-2005, 11:31 AM
I am 2 months away from my 401k vesting 100% at a Washington state employer and I have been told to find a new job. Do I have any legal recourse if I am let go prior to that.
View Full Version : 401k vesting
|
stevep 06-24-2005, 11:31 AM I am 2 months away from my 401k vesting 100% at a Washington state employer and I have been told to find a new job. Do I have any legal recourse if I am let go prior to that. LConnell 06-24-2005, 11:45 AM No, unless it can be shown that the company has a practice of terminating persons just prior to vesting and that the monies are diverted back to the company (doubtful). cbg 06-24-2005, 11:46 AM What is the reason you were told to find a new job? stevep 06-24-2005, 12:03 PM What is the reason you were told to find a new job? I applied for the COO position at the company and the board chose to bring in somebody from the outside. The CEO told me that it would be best if I found a new job since I didn't have a future there. I have never had a negative review. I was told during my interview with board (the CEO was not there) that our discussion was confidential and I probably shared some things with them about some issues at the company that I shouldn't of. Beth3 06-24-2005, 01:00 PM There's nothing unlawful about the Board deciding that you were not the best fit for the COO position and hiring somebody else they believe is more qualified. You haven't been terminated though, right? You've been told to find a new job since you're not going to progress further where you are. It sounds like you may have an opportunity to stay in your present position for at least a couple of months and get past the fully vested date. If there's any question about a time lime looming for you to be out, whether voluntarily or involuntarily, you should discuss that with the CEO. He or she may be quite willing for you to stay on at least until that date has passed. It would certainly be a very fair thing to do. |
Washington Labor Law Posters
Comply with Washington regulations with one Complete Washington Labor Law Poster. Trusted with customer satisfication. Call (800) 745-9970 or shop online at www.LaborLawCenter.com. |
|