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Allen M., Esq.
Allen M., Esq., Employment Lawyer
Category: Employment Law
Satisfied Customers: 19309
Experience:  Employment/Labor Law Litigation
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I am lucent retiree, can I lose my pension if co. Is bought

Customer Question

I am lucent retiree, can I lose my pension if co. Is bought out?
Submitted: 2 years ago.
Category: Employment Law
Expert:  Allen M., Esq. replied 2 years ago.

A retirement is a contract with a person, so your retirement contract would be controlling here. Unless that contract made it clear that the retirement would be lost in the event of a sale, then SOMEONE is liable for the payment of that retirement. Either the seller maintains the liability to make those payments or the purchaser takes on both the assets and liabilities of the company that is the seller.