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My employee meant started in 1974 and will retire in 2017

My employee meant started in 1974 and will retire in 2017 after43 years.the company had a defined pension plan that was hard frozen in 2000. I have 26 years of service under the plan and my benefit is based on my years of service and last five years of average salary at 2000. I have a lump sum ( if not in the top twenty five earners)or annuity option.However in year 2000 I was not in the top twenty five, but today 2017 I am.So even though my benefit is based on 2000 earnings I'm told I can't receive a lump sum because today I'm a top twenty earner!Doesn't seem right but the company claims it the law. Are they right?LynnLynn

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Thelawman2

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I am a member of a trade union. For 33years contributing an

i am a member of a trade union . For 33years contributing an now they change requirements an benefits. i would like to know if there is any recourse , or action that can be implemented to to have these changes , reversed for people who have been in so long isnt there a grandfather clause that can be used to fight these changes??

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Law Educator, Esq.

Attorney At Law

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I recently contacted my Target Pension Plan to find out why

I recently contacted my Target Pension Plan to find out why had not been contacted at the age of 65 about pension payments. The agent said he did not know but I was eligible for payments now. I am currently 69 years old. He said the longer you wait to receive payments the higher they become. My question is since I was not informed by them can I receive the amount available at age 65 and retroactive amount for the last 5 years or do I have to accept the higher monthly amount and begin now. Thank you so much for your help.JA: Because laws vary from state to state, could you tell me what state is this in?Customer: Pension Plan is from MN I currently live in FLJA: Have you talked to a lawyer yet?Customer: noJA: Anything else you think the lawyer should know?Customer: No.

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Marsha411JD

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My father worked a company as a pipefitter for 18 years and

My father worked a company as a pipefitter for 18 years and the company suddenly went out of business in 2010. He received a severance package but nothing more. In 2011, the company opened back up and resumed operations. He found another job and ever since has been fighting to get his retirement money from the company. They contacted him today and told him he would not be receiving any money from them, even though they took funds out of his check for 18 years. Is this legal and what steps should he take to get his money back?

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John

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I am 81; ret.RN; received notice I was due pension in2006

I am 81; ret.RN; received notice I was due pension in2006 -never received; amt. now either lump sum (20% tax!!) or annuity; I am 81. Notice " do by Aug 21 or they decide - also irrevocable decision. I worked in a Florida hospital -Marion County. Don't know if interest on this money is due me. The amount is $95.66 mo and I figure 124 months to 8/1/16. That is the amt they say as lump sum or annuity. How about 16+ years of no money. If I owed a hospital bill for 16 years??? Need to decide by Aug 21, according to the letter. Hope you will be kind enough to review and advise. Many thanks.

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Law Educator, Esq.

Attorney At Law

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108,214 satisfied customers
I joined nycers in 1997 and elected the 57/5 plan. I also

I joined nycers in 1997 and elected the 57/5 plan. I also transferred my previous B.O Education pension 62/5 service where that transfer came through in 1999. In 1999 nycers gave me a refund check with no explaination so I thought that was something everyone got because my pension plan 57/5 did not change. In 2004 I notice nycers changed my plan from 57/5 to 62/6 I called and asked why and was told "we have to honor the state" I mentioned that i don't want the 62/5 I want to stay in the 57/5. I was told sorry. Recently I viewed the 62/5 plan and it indicated if you where a transferee and was enter red in the 57/5 as a new member, you have an option to elect to stay in the 57/5 or go for the 62/5 plan. I had on option or notification. I told this to nycersand request to be placed back in the 57/5 planand was told in a letter that they made a mistake and that they should not have placed me in the 57/5 plan in 1997. Is there anything I can do to be in the 57 plan. I'm 54 and have 29 years of service

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Law Educator, Esq.

Attorney At Law

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108,214 satisfied customers
After approximately eight years in a non-profit organization

After approximately eight years in a non-profit organization pension plan can an employer establish by decree a policy that creates a new category for retirees and reduces the financial remuneration (by approximately 25%) of the former employee? Is this legal?

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John

Attorney

Doctoral Degree

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Type your question hereTime Warner cable was bought by

Type your question hereTime Warner cable was bought by Charter communications. Charter froze the Time Warner pension plan and created their own savings plan called the retirement accumulation plan. We are being told that we will have access to the funds upon retirement or termination of employment. If Time Warner Cable no longer exists and Charter is not continuing the pension plan then how can they legally block us from taking the lump sum?

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Marsha411JD

Doctoral Degree

18,962 satisfied customers
I worked at holycross during 1978 augst to1988 march then i

i worked at holycross during 1978 augst to1988 march then i left for better job. now i am 66 years old i am tetired from my current job .question is do i get something from holycross i worked all of thoes years, i caled talk to the hr they told me i dont qualified. please healp met. B.T Sreedhara

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

108,214 satisfied customers
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