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Investing/Strategies / Retirement Investing
|Subject: Re: pension plans||Date: 10/20/1998 12:59 PM|
|Author: TMFPixy||Number: 6126 of 78168|
Greetings, Rgood, and welcome. You asked:
I have a question about a totally sponsered pension plan by company A.
I worked for co. A for 10 yrs (i am vested in the pension plan). The business unit (that i work in) was sold to co. B.
Co. A did not roll over the pension benefits (money) to co. B.
Co. B states that though yrs of service at co. A will count towards vacation time and medical leave and other things, yrs. of service in co. A will NOT count towards pension in co. B. Co. A is not willing to roll the pension money over to Co. B.
Questions: Is Co. A in their legal rights? I'm 35 yrs old. when i retire, will i have to hunt down Co. A to get my pension money from them?
Also, my pension money from co. A is cut by 40% (ouch)
since my years of service is no longer a