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ESOP


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ESOP and Disability
Posted by Herbang on 04/25/2011
NEW JERSEY -- Disabled, I was immediately approved for Social Security Disability Benefits after medical exam confirming my doctor's report. I also won the right to NJ Short term disability after a hearing, because company appealed it. I also won the right to company Long term disability after a 9 month battle.

My former employer has denied me ESOP benefits due to disability under the "Provisions of the Plan". This is a costly legal fight if I decide to pursue it.

Here's my question, I have 2 years worth of correspondence regarding my dispute with employer. I see no reason why I can't share my story and correspondence received denying these benefits. It's all fact, and on company letterhead, and in their own words, so no falsification will take place. I'd be willing to share with media, TV, attorneys currently involved in such disputes, ESOP organizations, friends, family, acquaintances or just any one who asks. I would only black out my social security number. I am not including company name at this time. All releases will be of their own origin, on their own letterhead. Also, the corporation gets a tax deduction for each employee in the plan. ESOP's are supposedly Federally regulated. Yet, no one monitors the corporation when they don't live up to their responsibilities to pay the employee according to law. Is this how Bernie Madoff got away with it? At this writing, I am only asking for opinions please. Thank you for listening.

     
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Posted by Anonymous on 2011-04-25:
Couldn't hurt to inquire of your local media outlets to see if they are willing to help you. Have you consulted with any attorneys about the prospects and wisdom of pursuing this through the court system?
Posted by jktshff1 on 2011-04-25:
I'm with ript, but talk to an attorney 1st..
Posted by madconsumer on 2011-04-25:
please let us know the company. this way we can avoid dealing with them too, and defer our money to someone else.
Posted by Starlord on 2011-04-25:
By all means, consult an attorney. Sometimes the company will pull something like proprietary information and totally deny you of any claims. I had to fight SSA for three years before a law judge ruled that SSA had to give me my SSDI benefits. My employer did not fight me, but they did not help me, either. The guy that hurt me lived in a refrigerator crate, so suing him would avail me of nothing but a lot of heartache and expense.
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