U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Work and Employment
 [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)
Reply Start New Thread
 
Old 01-19-2019, 02:07 PM
Status: "Loving life, wife and job!" (set 10 days ago)
 
Location: USA
999 posts, read 386,414 times
Reputation: 2715

Advertisements

Once youíre vested in your pension, are there any circumstances in which your employment can deny or reduce your pension assuming that the pension is properly funded?
Reply With Quote Quick reply to this message

 
Old 01-19-2019, 02:25 PM
 
9,266 posts, read 11,837,381 times
Reputation: 14530
Public sector pension or private sector?
Reply With Quote Quick reply to this message
 
Old 01-19-2019, 03:29 PM
Status: "Loving life, wife and job!" (set 10 days ago)
 
Location: USA
999 posts, read 386,414 times
Reputation: 2715
Private. Major US employer, 30+ years, defined pension plan. I would think you’re protected by ERISA but a retired buddy said *they* could take it away or reduce it under certain circumstances. I don’t buy it...but thought it wise to poke around a bit here.

Last edited by k7baixo; 01-19-2019 at 04:14 PM..
Reply With Quote Quick reply to this message
 
Old 01-19-2019, 04:41 PM
 
10,060 posts, read 4,665,478 times
Reputation: 15302
Look up Teamster pension
Reply With Quote Quick reply to this message
 
Old 01-19-2019, 05:02 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,806 posts, read 54,470,896 times
Reputation: 31111
In the USA every defined benefit pension is insured, so there is protection from bankruptcy. In that case, a government agency (pbgc.gov) takes over the pension payments. Unfortunately the maximum payment is currently $54,000 so if you expected to get more than that you would be out of luck.
Reply With Quote Quick reply to this message
 
Old 01-19-2019, 05:06 PM
Status: "Loving life, wife and job!" (set 10 days ago)
 
Location: USA
999 posts, read 386,414 times
Reputation: 2715
Quote:
Originally Posted by MLSFan View Post
Look up Teamster pension
Was theirs a single, defined, funded pension? I’m referring to malice by an employer against a former, retired employee.
Reply With Quote Quick reply to this message
 
Old 01-19-2019, 11:19 PM
 
9,266 posts, read 11,837,381 times
Reputation: 14530
Quote:
Originally Posted by k7baixo View Post
Was theirs a single, defined, funded pension? Iím referring to malice by an employer against a former, retired employee.
A company can reduce or stop pension payments only if they have a claim against that pension payment approved by a Judge and usually only against the payment portion resulting from the employer's contribution. If it turns out that retired person collection the company's pension had embezzled funds or sold trade secrets to a competitor, and that retiree was sued, and the Court ruled for the company, they could allow pension reduction. In some cases, the company can place a hold on pension payments when certain acts are alleged, but usually a good attorney will get the funds released pending a Judge's ruling. I'm sure there's a whole lot more to it, but it can be done although I think its very rare.
Reply With Quote Quick reply to this message
 
Old 01-20-2019, 07:43 AM
 
1,092 posts, read 1,273,911 times
Reputation: 737
Quote:
Originally Posted by k7baixo View Post
Once youíre vested in your pension, are there any circumstances in which your employment can deny or reduce your pension assuming that the pension is properly funded?
two letters

IA
Reply With Quote Quick reply to this message
 
Old 01-20-2019, 09:23 AM
 
Location: The Ozone Layer, apparently...
1,906 posts, read 675,328 times
Reputation: 3955
I think it was recently voted that officers in public sector can lose their pension for using their office wrongfully. Im not sure about the particulars or jurisdiction, but at least in some locations it is a possibility.
Reply With Quote Quick reply to this message
 
Old 01-20-2019, 10:55 AM
 
Location: Northern panhandle WV
3,007 posts, read 2,172,300 times
Reputation: 6691
OP: no there is not a case for them reducing or denying pension based on malice. They would have to reduce everyone not just one employee. However read the pension contract, usually available to read at HR to be sure there are not any clauses where it would be affected by some kind of action on your part.
ex. like the old morality clauses or something like that. Not sure that if there were such clauses that they would hold up in court but good to read the whole contract. Most people don't.
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 > Work and Employment
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - 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 - Top