Rich Engelhardt
05-16-2014, 8:08 PM
I worked for Glidden Paints division of SCM Corporation from 1968 until 1983.
I was vested in their pension plan after ten years of full time employment (in 1980).
Now that I'm 62 and collecting Social Security, SS sent me a notice that I may be eligible for a pension.
I started trying to track it down a month ago....
What a nightmare!
SCM was sold, then Glidden was sold, then sold again, and sold again.
Each time, someone new took over the pension plan.
Then the pension plan went bankrupt - but - since it can't go bankrupt, it was taken over by the Pension Benefit Guaranty Corporation (PBGC).
I contacted them and they have no record of me in their database. They did open a case and are looking into it, but, it may take up to a year.
Meanwhile, I get a phone call today from one of the first places I'd called a month ago.
The caller tells me that I'm not a part of the plan that they administrate, but, she knows who is and gives me a number to call.
I call the number - and - the woman I spoke to tells me they don't administer the pan anymore, they just issue the checks.
I have to call Akzo Nobel - the very first place I contacted and the people that called me back today to tell me to call another number - and have them begins processing the paper work to add me to the pension plan.
Now I'm just going in circles....
:rolleyes:
This isn't really a rant (although I am ranting about it!) as much as it is a warning to anyone else that's close to retirement and was once in a pension plan with an employer that's been sold one or more times or has gone under.
You best start searching for information about it ASAP.
One huge tip I can give you is to try to find out the EIN - the Employer Identification Number of the company you worked for.
It's printed on pay stubs and W2 forms - or so I'm told.
W/out it, you face a real uphill battle.
I may have an old pay stub or tax return around somewhere - but - after 32 years it's pretty doubtful.
I was vested in their pension plan after ten years of full time employment (in 1980).
Now that I'm 62 and collecting Social Security, SS sent me a notice that I may be eligible for a pension.
I started trying to track it down a month ago....
What a nightmare!
SCM was sold, then Glidden was sold, then sold again, and sold again.
Each time, someone new took over the pension plan.
Then the pension plan went bankrupt - but - since it can't go bankrupt, it was taken over by the Pension Benefit Guaranty Corporation (PBGC).
I contacted them and they have no record of me in their database. They did open a case and are looking into it, but, it may take up to a year.
Meanwhile, I get a phone call today from one of the first places I'd called a month ago.
The caller tells me that I'm not a part of the plan that they administrate, but, she knows who is and gives me a number to call.
I call the number - and - the woman I spoke to tells me they don't administer the pan anymore, they just issue the checks.
I have to call Akzo Nobel - the very first place I contacted and the people that called me back today to tell me to call another number - and have them begins processing the paper work to add me to the pension plan.
Now I'm just going in circles....
:rolleyes:
This isn't really a rant (although I am ranting about it!) as much as it is a warning to anyone else that's close to retirement and was once in a pension plan with an employer that's been sold one or more times or has gone under.
You best start searching for information about it ASAP.
One huge tip I can give you is to try to find out the EIN - the Employer Identification Number of the company you worked for.
It's printed on pay stubs and W2 forms - or so I'm told.
W/out it, you face a real uphill battle.
I may have an old pay stub or tax return around somewhere - but - after 32 years it's pretty doubtful.