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Recent Retirement Plans questions

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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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

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Not sure if this is age discrimination or not. I received an

Not sure if this is age discrimination or not. I received an email from my employer, General Electric, around June 1st, notifying about 268 employees that they are eligible for a Voluntary Incentive Retirement Plan, offering one half of annual salary for people who accepted the plan and elected to retire on July 31st. Although I had about two months to train someone, my boss considered my position critical and would not let me accept the retirement package, with no offer of any retirement package in the future. He wanted me to stay an extra couple of months, with no incentive to stay except my normal salary. Because I was ready to retire and saw no reason to stay, i elected to retire on June 30th. I have no idea if I was the only one who was refused this offer because HR would not let me know. I am 68 years old and was ready to retire. Do I have a case for receiving any compensation on my retirement?

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Samuel II

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According to the ERISA fact sheet: "You immediately

According to the ERISA fact sheet: "You immediately vest in your own contributions and the earnings on them. This means you have earned the right to these amounts without the risk of forfeiting them. But note – there are restrictions on actually taking them out of the plan." This is from this link: https://www.dol.gov/ebsa/faqs/faq_consumer_pension.html. Can you tell me what they mean about restrictions on actually taking the money out of the plan? What restrictions can they impose?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,664 satisfied customers
Defined benefit pension was stopped and hospital red a third

Defined benefit pension was stopped and hospital hired a third party diversified to manage Have began receiving monthly statements" estimates" of for years what my lifetime monthly payments would be started off(###) ###-####down to 200 then 0Hospital HR rep states based on admits ration plan Erisa rule it doesn't matter who made the errors in estimatesFinal calculation 56.00 /month vs as much as 600 based on yrs of service and rules of the planWhen a business decides to hire a 3 rd party to manage this over the years and wrong information is delivered to 3rd party or actuary calculates monthly estimatesHR dept today says it doesn'tMatter based on Erisa lawThey have to pay me based on what they have calculated correctly now based on rules of administrative plan

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Marsha411JD

Doctoral Degree

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I am about to retire from an employer that offers an

I am about to retire from an employer that offers an ERISA-qualified pension (401a). I read the official plan document and found out that the employer can cancel the pension plan at any time for any reason. Most likely this good employer will not do that, but if it does, the plan says that retirees receiving a monthly pension could be turned over to an insurance company for continued annuity or given a lump sum to replace their remaining benefit. Let's say this happens several years from now and I have outlived my life expectancy. Could it be that I will have completely exhausted my benefit and my remaining benefit will be $0?Thank you for your advice,Jane

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I'm currently on LTD disability, exp'g. on Aug, when I turn

I'm currently on LTD disability, exp'g. on Aug, when I turn 65; my former employer terminated me due to disability. At the time, the Co. considered an Ee. to be fully vested in 5 years, which I had met. My question is: Am I entitled to Retirement Benefits?

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Marsha411JD

Doctoral Degree

18,804 satisfied customers
I have been employed with my company 11 years. I've had no

I have been employed with my company for over 11 years. I've had no disciplinary actions or difficulties prior to the last couple of months. My supervisor tells me there are "complaints" about my "communications skills" and that I am "borderline inappropriate". I've worked as a health care professional for over twenty years (I am an RN), and have held management positions and interacted with patients and families throughout that time, without a problem. She won't tell me who has complained or what has occurred but instead says "it's their perception and since they've never complained about anyone else, it must be true". Today I was given a written verbal warning and she said "Is it really worth it?". I have always followed the rules and have never hesitated to tell a superior if something was outside my ethics. In the midst of all this, I was asked to do something against federal regulations, which I refused to do. When that same supervisor refused to take no for an answer, i filed a "whistle blower" report with my Compliance Officer. He investigated, and someone at our corporate level intervened and redirected the activity into regulatory compliance. No matter what I've said or asked in my last two meetings with this supervisor, I come out of it feeling threatened professionally. I know she wants me to quit, and that would be the easy way to walk away with some professional dignity. Do I have other options?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,664 satisfied customers
Our boss told the Board of Directors in December 2015 that

Our boss told the Board of Directors in December 2015 that one of my co-workers would be retiring in 2016. There had been no discussion that he would be retiring. The boss just assumed. The boss has now demanded to know when a co-worker will be retiring. He has even gone so far as to check the internet to see if my co-worker's house is for sale and find out any information he can. He has also made mention to me that "you will never retire" although I am of retirement age. I am afraid that he will begin to also badger me in this regard. Just what are my rights in this situation?

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LawTalk

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Juris Doctor

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