How do i get my pension from my employer after the union i was contributing it to was drop?
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How do i get my pension from my employer after the union i was contributing it to was drop?
I’m a security worker for the city of Stamford.Security workers were a part of the Custodian union, this year we drop out of the custodian union. We were part of the pension program with the custodian. Now that we are no longer contributing to the pension we would like to get our funds. HR said that we can either rollover or get the money which will be hit with 33 percent taken out. Feb 2009 was when we came out of the custodian union. Five months has past and were getting different stories from HR. we were told a in Feb that a form was going to be send .Still no form no money.
Asked on July 3, 2009 under Business Law, Connecticut
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Pension rights can be a complicated issue and can be governed by both federal and state law. You need to consult with an attorney in your area about all of this. To keep down costs, if a group of you join in that would help.
Again, however, you need to consult with an attorney versed in benefits and tax law to handle all of the complexities that this case presents.
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
I'd say it's time for the employees who left the union, as a group, to hire an attorney and put someone's feet to the fire here. I'm not sure whether it's the union or the city's HR that's the problem, but between them, they need to get it solved.
Pensions and retirement plans are governed by a very complex federal statute, the Employee Retirement Income Security Act, "ERISA". It provides fairly strong protection for your pension -- but like any law, you have to be aware of your rights, and act if necessary to protect them, or those rights can be lost.
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