4 Places to Find Pension Money You Have Forgotten
Chances are you’ve worked for more than one employer through-out your life, but like many other Americans, you might not realize that they still owe you pension benefits. With more and more pensions being replaced by 401(k) plans you may have forgotten about a pension that you are owed from your younger days.
Are You Owed a Portion of $22 Trillion?
But despite being owed money, it can be difficult to find out how much and how you can get hold of it. Texas resident, Danny Jo Wright didn’t realize he was entitled to his previous pension. That is until he applied for his Social Security. It was only when the Internal Revenue Service requested a cut of his forgotten money that his real pension benefits came to light.
The IRS won’t help you claim the money as Wright found out. Instead, he spent hours on the phone trying to get to the bottom of it. It turns out his old company had been sold multiple times since he worked there. But, luckily Wright found help in the form of the South-Central Pension Rights Project in St. Louis, Missouri. Now, Wright enjoys $780 per month in pension benefits.
Just under $22 trillion still remains in pension plans across U.S corporations. If you need help to recover a long-forgotten pension, these 4 organizations will aid you with this not-so-simple task.
1. PensionHelp America
PensionHelp America is a great place to start looking if you believe that you have a pension that you need to recover. This website is the idea of Pension Rights Center. It’s a simple questionnaire that will direct you to the best sources to help you. Start by answering the questions to find the correct resource to help with your particular issue. Whether that’s finding out if a company owes you a pension or if trying to claim one.
PensionHelp America links up with counseling projects, government agencies, and legal service providers that offer information and help. This service is active in over 30 states and all actions and information are provided at no cost to you.
