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Finding a Lost Pension

Savvy Consumer: Finding a Lost Pension

PLACES TO LOOK

Link to "The Pension Benefit Guaranty Corporation" Link to "What To Do If You Find The Pension Fund"

In this section, we discuss thirteen possible sources of information on the whereabouts of your pension. Some of them are easier to gain access to than others. Keep in mind the “Allies” discussed in the previous section. Start with the federal Department of Labor and pension counseling projects for guidance in your search. After working with these organizations, you also might try PBGC.

None of the sources of information described in this section is likely to lead you directly, in one easy step, to the pension fund. Small steps can be enormously helpful. If you find out the name of a company that bought your old employer, then you can use the other sources to look for that second company. (To find a pension plan, you will normally need to find the company that sponsored it, even though the plan and the company are not the same thing.)

1.

If you can easily get in touch with any former co- workers who stayed at the company longer than you did, they may be able to tell you what happened to the company. If the former co- worker is getting pension checks, ask where the checks are coming from.

2.

A union that represented workers at the company (even if you yourself were not part of the bargaining unit) may have information. Other workers may have asked the union the same question.

If you don’t know which union it was, or how to locate it, the state’s labor federation (the state AFL- CIO) may be able to help you identify and find it. The labor federation is likely to have its office in the state’s largest city and/ or its capital city.

3.

The Chamber of Commerce of the city or town where the company was located may well know where the company moved, or who bought it out. If the person you talk with initially doesn’t know, ask if they can refer you to someone who has been active in the Chamber over a long period of time.

4.

In some cases, the name and address of the pension plan administrator, as listed in the most recent document you can find, may lead you directly to your answers. If the address is different from the company’s old address, there is a chance that this person will still be reachable there and can either end your search or can help you with it.

Every pension plan has someone – or some department – officially designated as the plan administrator. In a very small company, it is likely to be the owner. In a bigger company, it is usually another executive or a pension benefits department. It could also be someone from an independent firm that specializes in handling pension plans. In any case, the plan administrator keeps the employment and pension records for each participant in the pension plan. If the pension plan is still intact, then the plan administrator is the object of your search.

5.

The plan’s annual financial reports may identify the plan’s accountant, actuary, trustee, and/ or attorney. One of these parties should be able to tell you who can provide up- to- date information on the plan. These reports are contained in federal Form 5500; they are filed with the Pension and Welfare Benefits Administration (PWBA) about two years after the year that they cover, and they are kept by the PWBA for six years. For information, call the PWBA’s Division of Technical Assistance & Inquiries, (202) 219- 8776.

6.

A specialized business library may be able to help. One in particular, the Kirstein Library (a branch of the Boston Public Library) has been very helpful, and is not limited to Massachusetts companies or callers from Massachusetts. Its address is 20 City Hall Avenue, Boston, MA 02108 and its phone number (9 am - 5 pm, Monday- Friday) is 617- 523- 0860. A business library may sometimes be able to provide information as to a corporate merger or buyout that affected your company.

7.

A computerized search for information may be helpful. There are several “search engines” that enable someone to type in the name of a company, perhaps with other key words, and gain almost instantaneous access to relevant information. A librarian at your public library is likely to know how to use one of these searching techniques.

Keep in mind that the computerized searches suggested here are an easy matter for someone – a librarian, a relative, a friend, whoever – who is familiar with the “World Wide Web” of computerized information. In many cases, searching for documents that contain both the name of a company and the word “pension” will bring relevant information onto the computer screen. In many other cases, of course, it will not yield anything helpful. But it is worth a try. It may be especially helpful if you have been able to trace your company’s trail through one or more name changes or corporate mergers.

8.

Your state government requires annual reports from corporations – reports that, among other items, list the names and addresses of the corporate officers. This agency may be the Secretary of State’s office or it may have another name. A call to the main switchboard of your state capitol building should give you the name and phone number of the agency that collects these reports. In some cases, contacting one of the individuals listed on the form may be important in finding out what happened to the company.

9.

The company’s competitors may be a resource, in that they may know what happened to your company. The trick here may be to get to speak with someone who has been with the other company for a long time.

10.

A local historical commission or historical society may have information as to what happened to a company. Sometimes these phone numbers are listed in the local government pages of the phone book, or a town hall can help.

11.

The office of a county or municipal recorder of deeds may sometimes be able to provide information as to what happened when a company closed its local operations.

12.

If it was a publicly traded company, a stock broker may know what happened to it.

13.

If you find out that the company went bankrupt, see if you can get the name and address of the trustee in bankruptcy.

It is hard to tell which of these sources will provide the necessary information, and sometimes none of them will work. Even experienced pension counselors will sometimes have to abandon hope of finding a lost pension fund. In a great many other cases, however, the fund can be located – and locating it can mean tangible benefits for the retiree or spouse who is owed money under the pension plan.

Link to "The Pension Benefit Guaranty Corporation" Link to "What To Do If You Find The Pension Fund"
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