Suggestions as to how to check on YOUR pension and get FACTS.
Details , letters, and background on my proposal Number 7 can be found from
My website at
http://www.halcyon.com/dshuper/
for details , letters, and background on my proposal Number 7 can be found on:
http://www.halcyon.com/dshuper/BAPROPOSAL.html
or BAPROPOSAL
For those interested ,in other related sites, look at
http://www.halcyon.com/dshuper/REFLINKS.html
or REFLINKS
For what the Dept of Labor DOL thinks Plan Documents are:
http://www.halcyon.com/dshuper/DOLALL.html
or DOLALL
For a view of the sawtooth problem [ Speea/IAM pension]
http://www.halcyon.com/dshuper/GENERICPLOTA.html
or GENERICPLOTA
For a look at the gotchas re the PVP plan
http://www.speea.org/archive/files/RetPlan3.html
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A. Suggestions to get the facts and data for either/both plans.
Understand up front that YOU MUST ASK - IN WRITING - THE PLAN ADMINISTRATOR
Here is why ! - If you do not ask- they do not have to tell !
From Bins v Exxon
The nature and extent of an ERISA fiduciary's duties in
these circumstances is a matter of first impression in this Cir-
cuit. We recognize, therefore, that the district court did not
have any guidance from this Court when it made its ruling.
We have jurisdiction under 28 U.S.C. S 1291. We review de
novo a decision granting summary judgment, see Williams v.
Caterpillar, Inc., 944 F.2d 658, 661 (9th Cir. 1991), and we
reverse. We hold that when a plan participant inquires about
potential plan changes, an employer-fiduciary has a duty to
provide complete and truthful information about any such
changes then under serious consideration. In the absence of an
employee inquiry, however, the employer-fiduciary does not
have an affirmative duty to volunteer information about any
changes prior to their final adoption. We further hold that an
employer does not have a duty to follow up with an employee
if, subsequent to the employee's inquiry, the proposed
changes reach the serious consideration stage, unless the
employer agrees to do so.
1) Write the Plan administrator, certified mail, return receipt requested exactly as described in your SPD -Summary Plan Description/Document- everybody has one. E-mail may work for initial contact, but keep hardcopies. There is no e-mail address for the Plan Administrator. Use J.Dagnon and be sure to make clear in the first few lines you are contacting him in his position as Plan Administrator and Chairman of the Employee Benefits Committee. cc Nancy Cannon, who is NOT on the Committee, but is the Secretary of the Committee.
2) Remember that you can make only one request for benefit calculations
in any 12 month period.
3) When you write, ask for the legal plan documents or any documents
to support answers to your questions, mailed to your home. Offer
to pay for copy costs.
4) If you contact the Plan Administrator you can:
A- Ask for Information/documentation PERTINENT to your
questions.
B- Make a Claim
Under LAW these are two SEPARATE actions. Make sure you state
your intent when asking for PERTINENT Information/documentation
for Making a claim for benefits. It is common sense you need the
PERTINENT INFORMATION FIRST to make A CLAIM.
5) Ask initially for a monthly calculation/tabulation of your
VESTED benefits starting in Jan 1988 , and continuing to the current
month ,using all timely applicable formulas.
6) Ask for a documented explanation as to how the drop or leveling
of vested benefits, typically occurring in Jan/Feb is corrected
in accordance with your copy of the SPD. [Sawtooth problem ],
and where is your notification of a significant reduction in ACCRUAL
RATE for those months.
7) Ask why the current form letter response does not give you
the same information that was available on the annual statements
until 1998-99, as to credited service, results of basic formulas,
vested benefits, and covered compensation numbers as they apply
to your benefits.
8) Write down all phone calls on the subject, mail yourself a
sealed copy.