Earlier this year I wrote a money tip about finding lost pensions.
About a month later my daughter asked me for her dad's expired passports. As I rummaged through old papers I found a letter from one of my late husband's former employers stating that because of his employment of so many years he would be entitled to a monthly pension at age 65.
This letter started a months-long quest for the missing pension. My thinking was to act on my own advice!
The quest began in March by searching for the company that bought the firm my husband had worked for more than 30 years ago. I kept hitting dead ends as there had been several company mergers. Finally I discovered the name and address of the present firm - very different from the original. Also, the company headquarters were in a foreign country!
I emailed the main office, and to my surprise, had a response within three days. Who was I? What did I want? Why did I wait so long?
After a few exchanges they asked for birth, death, and marriage certificates as well as social security numbers. Weeks passed. They eventually responded saying they had no record of my husband ever having been an employee of that company!! I insisted that he had and he was not just an employee but also a corporate officer, at one time the Financial Vice President. Still no records to be found. They then told me to request a Record of Earnings from the Social Security Administration.
The SSA required a form (found online) and a check to pay for the record. Four months later the earnings report arrived showing the years, company names and earnings for my late husband. It was a short walk down memory lane of our early years together.
In the meantime, to back up the earnings report, I found online the company's old annual reports existed on microfische at the 42nd Street Library. (Several of which he oversaw as corporate Treasurer.)
Bottom line - This past week the company agreed to pay me the survivor benefit of half the pension in lifetime, monthly payments.
By law, companies may not just ignore pension obligations and absorb pension money. They must make an effort to find former employees but they give up after mail is returned three times. It is up to us to pursue.
Be $ Smart - take the initiative to find a lost pension. You will reap the rewards.
Below is a link to the brochure issued by the Pension Benefit Guaranty Corporation to help you in your search. Pass it along to friends and family. Good luck!
https://www.pbgc.gov/documents/finding-a-lost-pension.pdf
