Pension Claim screw over

[BBQ-Nut]

So, I retired from megacorp Jan of 2015.

Filed all my paperwork in Jan for my pension benefit.

I get a follow up that they need a copy of my marriage certificate and my wife's birth certificate in Feb.

We make copies and I send it in via certified mail USPS. It gets there, but then nothing until I actually call last Thursday.

I don't get a call back until Monday saying that they got the letter but supposedly can't find the requested documentation.

And now the requested documentation now includes a copy of my birth certificate in order to process my claim (the original paperwork included copies of me and my wife's DLs and Passports).

Now my claim gets delayed another month....

Sounds like a contrived stalling plan.

 

[Big_Hitter]

hopefully you can get paid the retro amounts - does your plan allow for RASDs?

 

[Lakewood90712]

Just about all megacorp's out sourced retirement plan administration a long time ago. About a dozen companies specialize in this: AON/Hewit , Zerox, TW. etc.

Most likely overwork and / or incompetence. Megacorp's outsource to the lowest bidder for this work , and the 3rd party admin's really squeeze their staffs.

Pension administration is costly and a real pita. Very low priority for the megacorp. If you are not satisfied, they could not care less.

 

[meierlde]

So, I retired from megacorp Jan of 2015.

Filed all my paperwork in Jan for my pension benefit.

I get a follow up that they need a copy of my marriage certificate and my wife's birth certificate in Feb.

We make copies and I send it in via certified mail USPS. It gets there, but then nothing until I actually call last Thursday.

I don't get a call back until Monday saying that they got the letter but supposedly can't find the requested documentation.

And now the requested documentation now includes a copy of my birth certificate in order to process my claim (the original paperwork included copies of me and my wife's DLs and Passports).

Now my claim gets delayed another month....

Sounds like a contrived stalling plan.

Back in 2007 when I applied for the pension I had to provide a copy of my birth certificate.

 

[Texas Proud]

I would think the start date is when you applied.... all that is in question is the monthly amount... they should pay for any months they miss...



At least that is what I THINK should happen....

 

[rodi]

Keep records of your contacts with the pension folks (notes on each phone call, names, dates, etc.)

It's a CYA move but after reading "Retirement Heist", it seems like a little record keeping might be worth it. Even big companies "accidentally miscalculated" their old traditional pension. One engineer caught it - and *almost* lived long enough to see the case through court.

You might also approach the HR dept at your former megacorp... sometimes they can get more traction than you can.

 

[gauss]

If you begin the pension one or two months later will the payment be fractionally bigger for the rest of your life, or have you already reached the 100% payout point and deferring will not increase the payment?

-gauss

 

[BBQ-Nut]

If you begin the pension one or two months later will the payment be fractionally bigger for the rest of your life, or have you already reached the 100% payout point and deferring will not increase the payment?

-gauss

Based on previous what if runs on my pension, the payout would be marginally bigger for every year (month?) I defer my claim.

I had actually planned for and do not need my monthly pension benefit until very late in 2015. It does throw off some tax planning for 2015.

I referred back to the original correspondence and the DL was sufficient proof of birth, so that is what they are getting today via fax, along with another copy of our Marriage License.

Then a same day call follow up from me to get confirmation they received all the information needed (again) to process my claim.

 

[EastWest Gal]

Send everything registered mail with return receipt requested.


Sent from my iPhone using Early Retirement Forum

 

[ivinsfan]

Send everything registered mail with return receipt requested.


Sent from my iPhone using Early Retirement Forum

That's fine, but does nothing to help you when they misplace it in their own offices..

 

[MichaelB]

Sounds like a contrived stalling plan.

Or just plain ineptitude.

 

[BBQ-Nut]

The fax was sent, so I called the "service" center to confirm they received it.


Turns out it will take 2-3 business days for the information to be 'entered into the system' for them to confirm.


Really? Someone can't go check the fax - they are that big or it is that hard just to go look to see if they got the fax?


I'm betting come next Tuesday, I'll call and get a "we see no information in our system yet, so you will need to resend the information."


And another month will go by....argghhh

 

[Lakewood90712]

I don't think they are B.S-ing on the " Fax info has not been entered into the system".

I had this same type of issue with the pension my father had, administered by AON/Hewit.

I think the fax is fwd to a separate work center offshore , with data entry offshore, so the us customer service rep really can't go look at the incoming fax box.

I learned to calm down, take a breath before berating the call center folks, and thank my lucky stars I'm not the one stuck in a cubicle working with such crazy work flow methods.

This is the crazy-ass way things are being done to cut cost's these days

 

[meierlde]

Send everything registered mail with return receipt requested.


Sent from my iPhone using Early Retirement Forum

Certified mail works just as well and is a bit cheaper (3.30 vs 11.95) In particular because the items involved do not have any intrinsic value. You can still get the return receipt as well. (2.70 if you want the green card, 1.35 if an email is adequate)

 

[BBQ-Nut]

Call the service center - got confirmation they received the requested documentation *and* my pension submittal was processed/approved.


First payment will be June with retroactive payments back to March.


Stand by to stand by....

 

[rodi]

That is awesome.

 

[Ticker]

this is why I took the lump sum. don't trust the administrators with crucial funds.