Expert: Ed McFarland - 9/8/2006

Question
I have a pension plan with a previous employer, a physician in private practice in California. I quit the job in July of 2005.  I have been asking to cash out this plan but he keeps stringing me along. He is now telling me he has to file 2005 taxes first. I don't understand what that has to do with my cashing out my pension plan from a job I left over a year ago. Is there any legal avenues I should pursue? Please help me out. Thank you!
Liese

Answer
If it is a profit sharing plan, he doesn't have to make the 2005 contribution until he pays his 2005 taxes, which will be due on October 15.

Get the old statement and call the administrator of the plan. If that doesn't get things moving you can contact the US Department of Labor.

Their web site is at www.dol.gov and they are responsible for the protection of your retirement plan.

I'm not exactly sure what the exact name of the California agency you need to contact, but if you google it I'm sure you'll find out who to contact.

Good luck