Regarding errors in the company's retirement plan statements, a reader says in an e-mail: "My first Gannett paper wasn't included, depriving me of 5 years that would put me over 20 years at a higher accrual rate. A colleague's statement is missing 10 years. I've called the 'help' line three times. It's just a call center, but I was supposed to have heard back more than a week ago, and haven't. I got a correct statement just five years ago -- has Gannett lost its files, or is it intentionally cutting service short, hoping we won't notice?"Join the debate, in the original post.
Earlier: Ask Tara: How many incorrect pension statements?
They clearly screwed up a ton of these statements. As far as I can tell from talking with colleagues in my shop, it looks like the original statements only covered the years from 1998 to now, after they dumped the conventional fixed benefit for new incoming employees. So anybody who was working for GCI before then got a bad statement.
ReplyDeleteIn our shop, they did send corrected statements directly to the HR office, which hand-delivered them to us. If you have a slow-witted HR office, and so many of us do, is it possible they have your corrected statement in their possession and just forgot to tell you?
Estimates.
ReplyDeleteEstimates.
what about ex-employees? I left the Republic right after Gannett bought it. I understand the Republic's old pension plan was rolled into Gannett's. I'm supposed to get some kind of a pension from it when I retire, if it still exists, but who do you even contact about it?
ReplyDelete@2:41 a.m.: The first place I'd start would be the Republic's HR department.
ReplyDeletei never received my first statement. i notified HR and was told to call the 800 number. they confirmed my information and two weeks later i still hadn't received it so i called again. they told me it had been mailed the week after the 4th and to give it another two weeks. it has still not arrived.
ReplyDeleteThank God I got my money out! I quit this year and am glad I'm through with Gannett. I smell a mess the size of Indymac and Bear Stearns ....
ReplyDeletePlease excuse me for what might seem like an obvious question, but I can't seem to find the answer anywhere and I am receiving no reponse from my former Gannett shop. Shocking, I know.
ReplyDeleteI voluntarily left Gannett in December 2007 after 8+ years with the company. I understand I am fully vested in the pension fund, but am I only eligible to receive the pension upon retirement age or does the possibility exist to withdraw those funds now through a lump-sum disbursement?
Like the previous poster I am also worried this whole situation is going to get very, very messy and ugly. If I can have my pension now, I want it because it may not be available when I reach retirement age.
Any help would be greatly appreciated. Thanks.
My guess is you get it when you reach retirement age. I know I have two pensions from the 80s and 90s, one for $5,321 and one for $6,892. Both I can get when I reach retirement age. Of course, those past companies are sitting on it, investing the money, but in their eyes I will get what I earned with them back in the day.
ReplyDeleteRather than worry about estimates I'd worry about whether the company will be solvent in a dozen years and able to pay the pensions. The current statements are merely an estimate of what I will get in 23 years. Who cares?
ReplyDelete