Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-20-2013, 11:58 AM
 
Location: Houston, TX
1,417 posts, read 2,180,685 times
Reputation: 1500

Advertisements

I worked for a company for 30 years before moving out of state.
The company has gone through bankruptcy twice, but I maintained contact with the controller who stayed employed there.
They have now been sold to another company.
If my company is no longer in business- will I lose my pension? I have no contacts with the new company. Does anyone know where I start to find out? (Not sure if I need to hire a lawyer?)
Reply With Quote Quick reply to this message

 
Old 02-20-2013, 12:02 PM
 
11,181 posts, read 10,531,383 times
Reputation: 18618
Try the Pension Benefit Guaranty Corporation website.
Reply With Quote Quick reply to this message
 
Old 02-20-2013, 12:06 PM
 
5,139 posts, read 8,848,721 times
Reputation: 5258
Yes, that's the place to contact....they took over our pensions when my company went out of business.
Reply With Quote Quick reply to this message
 
Old 02-20-2013, 01:52 PM
 
Location: Alaska
5,356 posts, read 18,543,192 times
Reputation: 4071
You should also inquire with to company that took over your old one. They may have taken on the pension obligations.
Reply With Quote Quick reply to this message
 
Old 02-20-2013, 05:55 PM
 
Location: Florida
6,627 posts, read 7,342,677 times
Reputation: 8186
Your pension should be legally separate from the company so it will have survived all the company changes. You should be able to track down the pension through the US Department of Labor and your Congress man if the Pension Benefit link does not help. You should not need an attorney.
Try and do a web search on the legal name as there should be annual filings with the US government.
Reply With Quote Quick reply to this message
 
Old 02-20-2013, 11:45 PM
 
48,502 posts, read 96,848,488 times
Reputation: 18304
No priavte pensions come under the Pension Guaanty GuarnntyCorporation. Public pension are not under it.That is why its being weatched as to now those cities that are filing bankrupsy comes out as pensioners are just a class of bondholders down the list under bankrupsy laws.Especailly those that are in city controlled pension funds;not state municipal systems. that are separte. Even those are rarely over 80% funded tho as to city accounts.I know its reported that Illonsis hasn't made a funding payment in two years last I heard.

Last edited by texdav; 02-21-2013 at 12:15 AM..
Reply With Quote Quick reply to this message
 
Old 02-21-2013, 02:18 PM
 
Location: Houston, TX
1,417 posts, read 2,180,685 times
Reputation: 1500
Thanks for all the replies! The PBGC was very helpful in getting me started in my search.
Thanks for the info!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads

All times are GMT -6. The time now is 08:52 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top