How to Get a Pension From a Company That No Longer Exists
Many employers no longer offer company- or union-sponsored pension plans. The U.S. government regulates most remaining pension plans and often insures these against forfeiture. Companies facing bankruptcy or dissolution may turn to the government for continued administration of their plans; others purchase private insurance to cover such a situation. The U.S. Pension Benefit Guaranty Corp. offers assistance for locating remaining assets to recover pensions when a company no longer exists.
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Instructions
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Collect any pension plan statements, business invoices or other paperwork involving the pension plan. These notices and invoices contain important information such as plan ID numbers, contact information and company filings that may assist in the search. Other documents, such as tax forms, may also offer important information, including the company's IRS Employer Identification Number.
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Call any contact numbers listed on the plan statements or invoices. The former plan administrators may provide directions for how to seek remedy for lost pensions or additional information. Annual financial reports may provide the plan's treasurer or overseeing agency, as well.
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Visit the PBGC to search for publicly accessible information on the former pension plan. The PGBC website allows searches by company or member name, state or policy number for pensions transferred to PBGC control.
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Contact the Employee Benefits Security Administration for further assistance. The U.S. Department of Labor operates the EBSA and specializes in assisting with cases of unsecured or lost pension claims. Provide all information discovered through earlier sources for faster resolution.
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Tips & Warnings
Pension counseling services may also assist in the search for a fee. These fees vary by state and business.
Always check with the official government organizations first to avoid private company costs.
