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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUpdate on my pension ....
Last edited Mon Nov 1, 2021, 09:28 AM - Edit history (1)
They messed up last month:
https://www.democraticunderground.com/100215931011
It took them until the 18th to finally get the money into my account. Its due on the 1st. There is no pending transaction, either in my bank or my pension account to give me any hope that it will be there in the morning. So Ill be spending the next two weeks starting tomorrow morning trying to chase it down. And every month, I suppose. Im wondering if theyre trying to kill me with stress.
Update:
I just called. They said that it will be going in today but I might not see it until Wednesday because there's quite a long process to bringing people back from the dead. This guy was shocked that there was no effort to get in touch with me or my husband. No snail mail, nothing to notify anyone that they had declared me dead. Yes, they know about him. He had to sign papers and get them notarized. It's not showing up on my pension account because that also takes time to reinstate. It only took minutes to kill me, but apparently it takes over a month to get things back to how they're supposed to be.
We'll see how it looks a little later. Trying not to let the stress kill me. Thanks for listening.
XanaDUer2
(10,628 posts)piddyprints
(14,642 posts)I really thought it was fixed. I guess they though it would be ok to just pay it once.
Throck
(2,520 posts)Can union help?
How about your state's attorney general?
Im going to call the Employee Benefits Security Administration, which is a federal agency. They told me last time that if I couldnt get help, theyd get someone important on a conference call with me. Ill call the contact I had at Fidelity first though. If she wont come to the phone, Ill work my way up.
Its just so annoying that I have to do this all over again after it took a solid two weeks on the phone to get it reinstated just a few weeks ago. So it was late last month and will be late again this month.
PoindexterOglethorpe
(25,839 posts)Or your 401k account? They are rather different things.
You also noted in that earlier post that you'd been reported as dead and wondered why they hadn't called Social Security. I doubt any entity would do that, regardless of how they got such notification.
piddyprints
(14,642 posts)I rolled over my 401k years ago, but wasnt allowed to touch the pension. I just became eligible to collect the pension and had to state how I wanted it distributed, in time for it to start the month after my 65th birthday. And, yes, they required me to start drawing it at age 65.
I did not wonder why they hadnt called Social Security. What I was saying is that Social Security knows Im alive. In other words, my Social Security and Medicare are still active.
The pension company should have checked my Social Security number, not just my name and birthdate, for verification with their own records. Thats not the same as calling Social Security.
PoindexterOglethorpe
(25,839 posts)Aren't they the ones administering it?
I have a small pension that I get through the Pension Benefit Guarantee Corporation as my former company, about twenty years ago, got out from under any responsibility by going through a couple of bankruptcies. Alas, I get approximated a third of what it should be.
And for what it's worth, you said "Social Security knows I'm alive. Why didn't they check with them?"
If something like that happened to me I'd want to know exactly how they got a report of my death.
piddyprints
(14,642 posts)Thats how I got it back last month. They admitted they made a mistake and they admitted that they didnt check my Social Security number, which is supposedly part of their protocol. I will have no problem calling IBMs corporate office if Fideliṭy wont get their act together, but Im not sure how much help that will be.
I have asked several times what happened. The person who started the process only matched the name and birthdate. My name and birthdate are not unique. I might as well belong to the Bob Smith Club. Apparently someone else with my name and birthdate did die, and they pulled the pension from the wrong person without verifying the correct Social Security number, address, etc. I questioned several people about it.
And, last I heard on the 15th, it was all supposed to be fixed. Yet here we are.
Im sorry your pension got reduced. That really sucks.
PoindexterOglethorpe
(25,839 posts)As you clearly realize, a lot of first and last name combinations are hardly unique. My actual real name does seem to be unique these days, although in the past two or three other women (yeah despite my screen name I'm female) have had that combination, but they no longer show up if I Google my name.
I have a son who is getting a PhD in astronomy. His first and last name is somewhat common. I'll call him David Nelson. I've told him that when he's doing professional publications, he really, really needs to use either his entire four names "David Arthur Baker Nelson", or at the very least David A. B. Nelson. As it is, there was a professor by the name of "David Nelson" as his university who left to teach elsewhere right before my son arrived.
As for the reduction in my pension, yes it does suck. But luckily, I only worked at that company for ten years, at the beginning of my working life. I always figured it would amount to very little. It's those who worked for thirty or more years and assumed it would be the major part of their retirement income who got truly and totally screwed. While I would love to have the larger amount, I am fortunate enough to have adequate income. As it stands, the pension amount is about 4% of my income. If it were that larger amount, it would be 10%. I am lucky in that I had well-off in-laws who gifted all of their children, daughters and sons in law, and their grandchildren quite generously. We (my now ex and I) always saved and invested that money, and so when my marriage ended, I was in decent financial shape. I needed to go back to work -- I'd stayed out for 25 years raising children -- and those years back in the workforce made a huge difference in my ultimate Social Security payout. I was also able to collect a spousal benefit from age 66 to age 70, when I switched to my own. That delay was very helpful in giving me a decent, if average, SS payout.
At this point in my life I feel that I'm in a demographic sweet spot. My son is grown, highly unlikely to have children of his own (darn, because I would have loved to have had grandchildren but his choice). I'm retired since 2013, (dear lord, has it been almost a decade? Yes, it has.) and so I haven't had to figure out working from home or agonize over going into a job where I could be exposed to Covid. And no need to juggle education for a child while I'm trying to work. This whole thing has been a heck of a lot harder on most people than on me.
Anyway, again more wishes to you that this all gets resolved soon. Especially as you are no doubt counting on that money because you need it to pay bills.
niyad
(113,213 posts)Its sort of turned a happy situation into total stress.