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Joined teamster union local 341 in 1968-1983 do i have a…

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joined teamster union local 341...
joined teamster union local 341 in 1968-1983 do i have a pension coming.
Submitted: 2 years ago.Category: Employment Law
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Answered in 3 days by:
2/11/2016
Employment Lawyer: Legalease, Lawyer replied 2 years ago
Legalease
Legalease, Lawyer
Category: Employment Law
Satisfied Customers: 16,432
Experience: 13 years experience in employment law, unions, contracts, workers comp law
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Hello there -

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WHether or not you have a pension coming to you for 15 years service should be a matter of record with the local teamster union 341. Generally speaking, if there is a pension from and through the union, you should have received annual updates regarding the then current "vested" amounts ( vested amounts are those monetary amounts which are firmly paid into the union pension for a particular time period and then are scheduled to be paid out to you at retirement age). If that particular local union no longer exists, it is likely that your records and any pension would have been absorbed into another, probably larger, local teamster union chapter. If you are unable to locate your old union chapter 341 or anyone associated with it in the area where it once existed and thrived, my suggestion to you is to make an inquiry to the local regional teamster chapter regarding what happened to the local 341 and if no one seems to be able to assist you or give you any help, the next place to contact will be the National Pension Benefit Guaranty Corporation. the PBGC is a US federal government agency that is the responsible agency for many older private and public pension programs and payouts / administration of many, many older pensions which were transferred to the agency when companies and other unions went bankrupt or companies such as the major airlines back in the 70s and 80s were permitted to shed their pensions in order to continue flying. All such older pensions from defunct companies and unions, if they exist, are generally paid out by this government agency.

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Here is a link to the Pension Benefit Guaranty Corp website where you can get contact information and start the process of determining whether or not you have a pension coming and where you must apply to in order for any such pension to be paid out to you upon retirement.

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http://www.pbgc.gov/

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MARY

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