LarryBob
Confused about dryer sheets
I am in the following situation:
I continue to be employed by the same company. I will be 67 in May, 2010.
I reached full retirement age in May, 2009 and I began taking reduced benefits in February of 2009. When I reached full retirement age in May of 2009 I began collecting full retirement benefits.
My employer has continued to withhold Social Security and Medicare and to pay their part.
Due to a class action suit (explained below) the company made a decision to place all employees into the company pension plan effective January 11, 2010.
I have the below listed concerns:
1.[FONT="] [/FONT]Social Security and IRS regulations mandate that my employer continues withholding social security and makes their contribution to social security. No Social Security is being withheld.
2.[FONT="] [/FONT]I have been forced into a pension program that I elected not to participate in. A deduction is taken from my wage each pay period for the pension program. (but not social security)
I see myself as being vulnerable to action from Social Security since I continue being employed and there is no contribution made on my employer’s behalf…or mine.
1.[FONT="] [/FONT]I am not currently in a position to increase my Social Security benefit since there is no contribution.
2.[FONT="] [/FONT]I am eligible to buy back time due to long term temporary employment by this company.
3.[FONT="] [/FONT]No one associated with my company has been able to explain the resolution or legality of my situation.
My concern is mine only however others in my company are in a similar situation.
My employer refused to allow me to participate in the company pension program when I was hired in 2003 due to “health circumstances”. I had high cholesterol and high blood pressure when I was hired. These conditions have been corrected; however I elected not to pursue participation in the pension program and to continue my contribution to Social Security. My employer now has 85 employees in my union who were in the same position as me. Overall the company has 205 employees in this “category”.
The company fears retribution due to class discrimination. This is their problem, I want to protect myself and my future benefits.
Thanks for any input.
Great forum, Keep it up
Larry
I continue to be employed by the same company. I will be 67 in May, 2010.
I reached full retirement age in May, 2009 and I began taking reduced benefits in February of 2009. When I reached full retirement age in May of 2009 I began collecting full retirement benefits.
My employer has continued to withhold Social Security and Medicare and to pay their part.
Due to a class action suit (explained below) the company made a decision to place all employees into the company pension plan effective January 11, 2010.
I have the below listed concerns:
1.[FONT="] [/FONT]Social Security and IRS regulations mandate that my employer continues withholding social security and makes their contribution to social security. No Social Security is being withheld.
2.[FONT="] [/FONT]I have been forced into a pension program that I elected not to participate in. A deduction is taken from my wage each pay period for the pension program. (but not social security)
I see myself as being vulnerable to action from Social Security since I continue being employed and there is no contribution made on my employer’s behalf…or mine.
1.[FONT="] [/FONT]I am not currently in a position to increase my Social Security benefit since there is no contribution.
2.[FONT="] [/FONT]I am eligible to buy back time due to long term temporary employment by this company.
3.[FONT="] [/FONT]No one associated with my company has been able to explain the resolution or legality of my situation.
My concern is mine only however others in my company are in a similar situation.
My employer refused to allow me to participate in the company pension program when I was hired in 2003 due to “health circumstances”. I had high cholesterol and high blood pressure when I was hired. These conditions have been corrected; however I elected not to pursue participation in the pension program and to continue my contribution to Social Security. My employer now has 85 employees in my union who were in the same position as me. Overall the company has 205 employees in this “category”.
The company fears retribution due to class discrimination. This is their problem, I want to protect myself and my future benefits.
Thanks for any input.
Great forum, Keep it up
Larry