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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?)
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.
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.
Thanks for all the replies! The PBGC was very helpful in getting me started in my search.
Thanks for the info!
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