AboutAllen Expertise Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions
Experience Over 35years experience in the pension field
Organizations Various actuarial organizations
Education/Credentials MBA and various professional certifications
Question Hi,
I am fully vested in a pension plan called Equity services in a firm that I
worked for 7 years. My ex-boss is keeping information about the pension
plan and is telling me that he doesn't have the paperwork. At the same time
the Company that has prepared it tells me that I need to get the info from
my ex boss. I am confused about what to do. How can I get the paper work in
order to transfer the funds into my IRA?
I appreciate your response.
egards,
Fariba
Answer If you have not done so already, request IN WRITING that the company provide you with information about your benefit. Make certain you write to the plan administrator (which is probably the company). Also send you letter by certified mail. By law you are supposed to receive a response within 30 days. If you don't, you have two options:
1. Go to the local office of the U.S. Dept. of Labor - Employee Bnefits Security Administration. They should be able to help you for no charge.
2. Contact an attorney who works in the ERISA area. The attorney should be willing to take this on a contingency basis as the penalties for failing to provide benefit information can be very large.
