Accounting, Payroll & Pension Issues/pension

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Question
I worked for Bell telephone Co of Pa from 1965 to 1975 when I left on Pregnancy leave to have my first child.  I did not return to work  I am pretty sure the policy in 1965 was, in order to collect a pension you needed 10 years service.  I did have 10 years when I left.  Verizon is telling me now  it was 15 years service in 1965.  Is there anything in writing that can confirm this?  I was counting on a pension now that I am 65.

Answer
Dianne:

This is difficult to answer because the dates are so long ago and pension rules have changed. If you believe the original pension is not being handled properly I would recommend you reach out to the Pension benefit Guarantee Corporation (www.PBGC.gov) They handle defaulted and mishandled pension plans and should be able to help you in this matter. if they are unable to do so, I would reach out to the Department of Labor and voice my concerns there.

Hope this helps.

Thanks,

Tony DePasquale

Accounting, Payroll & Pension Issues

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Tony DePasquale

Expertise

Pension plan questions, investment management services, plan fiduciary services, profit sharing, defined benefit planning, defined contribution planning, 401(k), 403(b), IRA rollover, plan consulting services, plan structure and plan design consulting.

Experience

I have over 10 years experience regarding pension plan management including; investment fiduciary services, plan structure and design, plan administration, employee education, Uniform Prudent Investors Act (UPIA) services, overall plan management consulting, Employee Retirement Income Security Act (ERISA) law and Department of Labor (DOL) law.

Publications
Nevada Business Magazine Henderson Press La Voce International Magazine

Education/Credentials
BA Economic History, University of Nevada Las Vegas Independent Pension Fiduciary ERISA 3(38) Investment Fiduciary ERISA 3(21) Fiduciary

Awards and Honors
Las Vegas Chamber of Commerce Excellence In Client Service Award In Business Las Vegas - Who's Who Banking & Financial Services

Past/Present Clients
Elysien Private Wealth - President Private Wealth Merrill Lynch - Financial Advisor

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