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Left a job in 1994 after 4 years. Didn’t think about a pension, at the time I thought it required 5 years vesting. Company was merged at least twice, now part of Berkshire Hathaway.
Got a letter out of the blue saying I am eligible for $130 a month or $25,000 lump sum. Not bad for a job that started at $30K.
How would they be able to find me after 27 years and several moves? I know that insurance companies use the SS death index to find beneficiaries.
Similar to a school pension I was due from early in my career. I had forgotten about it, and then assumed it transferred over. But 10 years after I retired (from a different state) I got a similar letter. I got a nice big fat check catching up...which that year put me into a higher tax bracket!
I got notified by SSA I think , that I had two pensions. (Knew about both of them).
Had few other jobs in my life, but none of them had any pensions that I would have qualified for.
Did have one that I got paid off the dollar value of it when I left, It was less then $500 (Total Value) that was given to me when i did my exit paperwork. I cashed it and paid the tax on it.
Same happened to me earlier this year. I didn't even know I had a pension at this employer, yet 30 years later, they found me by sending a letter, that asked me to call into a central phone # that was a 3rd party financial firm hired to wind own their pension fund. I was only there for 8 years.
I took the lump sum payout of $75k and rolled it into a Roth IRA, and paid some taxes to do so.
I have a feeling on the 27 year part. My old job, working for the Commonwealth of Kentucky, you're eligible for full retirement at 27 years. It could be the same with your company and, when you left the job and didn't take the money with you, it held it for that period of time.
I also whole heartedly agree with taking the monthly payments.
I haven't tried since he died. When we found out he was terminal, we tried contacting the union but they didn't have any records. I have never received a notice from SSA about his pension.
The union was embroiled in a bunch of politics and didn't always do what they were supposed to. According to my husband he was months short of being vested.
I am his appointed representative and have copies of that order and his death certificate. It's been hard losing his income.
I will keep searching found money sites. If it finds me when I need a new vehicle in a few years, that would be great!
Thanks for your help!
You're welcome. Have you looked into either of those sites? Was that the right pension?
They have to have info on him because he paid into it.
Do you have money to pay an attorney to write a letter to them? You deserve that pension money as a survivor.
Did you speak to social security to collect on his social security? I think you're entitled to half to be added to yours. The people here could tell you better than I can. Consider making a thread.
You're welcome. Have you looked into either of those sites? Was that the right pension?
They have to have info on him because he paid into it.
Do you have money to pay an attorney to write a letter to them? You deserve that pension money as a survivor.
Did you speak to social security to collect on his social security? I think you're entitled to half to beadded to yours. The people here could tell you better than I can. Consider making a thread.
Not "half added to", but "brought up to half", if own benefit is less .
You're welcome. Have you looked into either of those sites? Was that the right pension?
They have to have info on him because he paid into it.
Do you have money to pay an attorney to write a letter to them? You deserve that pension money as a survivor.
Did you speak to social security to collect on his social security? I think you're entitled to half to be added to yours. The people here could tell you better than I can. Consider making a thread.
I sent an email to the benefit fund you found. They don't have any information on him. His 70th birthday is coming up in a few months. Maybe something will happen then. I am collecting survivor benefits, and no, its not enough to consider having an attorney write a letter. Our daughter is a paralegal; I will ask if she has any contacts that might be helpful.
I might have to call Social Security. They should have a record of his participation.
Left a job in 1994 after 4 years. Didn’t think about a pension, at the time I thought it required 5 years vesting. Company was merged at least twice, now part of Berkshire Hathaway.
Got a letter out of the blue saying I am eligible for $130 a month or $25,000 lump sum. Not bad for a job that started at $30K.
How would they be able to find me after 27 years and several moves? I know that insurance companies use the SS death index to find beneficiaries.
Worked for a small company for about a year in 1987, getting letters that I am due a pension of $93. Fees are -$1.88 a qtr, fixed return = +$.67.
No wonder pensions are going away. Tracking down $100 accounts for 35 years.
While I knew about my "lost" pension, $63.22/month from 1981-85 .
I could see how I could get lost moved a few times. I did have stock in the company, and Guessing they got my current address from the broker, When I turned 62? I got a letter from Social Security telling me I had two Pensions, The "Lost one that found me" and from my employer. I think it also had something about 401K's in the letter also.
Wound up taking a lump sum buyout of the $63.22 pension, The Current Value was bumped up 7% over the actuarial amount.
My last job was at a 401(k) web site. I am so proud of helping millions of workers and employers move from DB plans to DC. Once someone rolls out, they are off the books. No tracking a former employee for 37 years for a $93 lump-sum payout. Never knew they could afford that, so I will rollover and be off their books.
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Spouse benefit "up to half"
