Any other complaints of little or no action on pension payouts from the August layoffs? Can you believe it's been four months and still no check? I have contacted Corporate a handful of times and always the same run around: "If you don't get the check in two weeks, call back." Two weeks later, and the same thing! Can they legally take this long to pay all of us?
Saturday, December 20, 2008
Reader: Four months later, still no pension payout
In an e-mail signed, "Frustrated in Ohio," a reader asks:
Any other complaints of little or no action on pension payouts from the August layoffs? Can you believe it's been four months and still no check? I have contacted Corporate a handful of times and always the same run around: "If you don't get the check in two weeks, call back." Two weeks later, and the same thing! Can they legally take this long to pay all of us?
Any other complaints of little or no action on pension payouts from the August layoffs? Can you believe it's been four months and still no check? I have contacted Corporate a handful of times and always the same run around: "If you don't get the check in two weeks, call back." Two weeks later, and the same thing! Can they legally take this long to pay all of us?
23 comments:
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Good question! Now that I think about it, I have seen scattered comments -- laid-off folks saying they can't get pension payout checks, or get questions answered, for months on end.
ReplyDeleteEveryone else: What's your experience been like, getting a pension payout?
what would make you think that this cheap company would do the right thing. they planned this so they can collect interest on your money for as long as they can. it's the gannett way.
ReplyDeletefrom what i heard from other employee who got lay off (the last one) they already recd' payment. Something is wrong call Gannett about that
ReplyDeletetoday, i recd' in the mail from Gannett my 401k payment rights notice. reading this thru and trying to understand it the roll over payment. it reads UNDER 60-DAY ROLLOVER OPTION-YOU CAN ROLL OVER UP TO 100% OF YOUR PAYMENT THAT CAN BE ROLLED OVER UNDER PART 1 ABOVE , INCLUDING AN AMOUNT EQUAL TO THE 20% OF THE TAXABLE PORTION THAT WAS WITHHELD.
what does that mean? if i roll it over they are going to tax me?
You have the right to consult a lawyer on why its taken so long for your pension money to be sent to you?
ReplyDeleteI was laid off in August but have already received my pension payout and rolled it over into an IRA. If memory serves me right the paperwork arrived in late October and I acted on it immediately. Even so, I did not get the check for deposit until late November. I believe if you were laid off in August and still have not even received the paperwork, they are in violation of the law. I would call Tysons and inform them that either you see the paperwork within five business days or you will be taking legal action.
ReplyDeleteRuns right in line with the rest of the operation!
ReplyDeleteI did not get laid off, but I left the company in early November. I have not received my pension money or notices by mail. The pension offices at Gannett say they are "way backed-up and we have a year to get it to you, if we choose." When I left, on cordial terms, I was told I would have my money within 60 days. I think the company is holding our funds until '09 for debt-ratio and covenent purposes, which are often set on the last calendar day of the fiscal year. If they don't get their act together, there are enough people here to file a class action lawsuit and plenty of attornies who would be happy to do it on behalf of the class. I think we'll start getting letters at the beginning of the new year. And, i don't know for sure, but I would bet the 11th floor has instructed the floors below it to drag its feet, be slow-pays on major accounts in December, so it can bolster year-end cash-on-hand and debt ratio statements... Just a theory :)
ReplyDeleteYou might try getting help from pensionrights.org.
ReplyDeleteOK, I left the company in early July, a product of downsizing in Ohio.
ReplyDeleteI got my full pension in early December, but only after numerous (6 to 8) phone calls.
The folks at corporate pension were very pleasant on the phone, but there was a problem with the paperwork. They also had my benefits amount wrong (about 13K wrong!) but that got corrected.
My advice: file for the payout and then follow up often (every 2-3 days) if you don't see something. I got a direct deposit so it didn't take as long as a mailed check.
It was somewhat frustrating, but in the end I got all my money safely in the bank about 4 months after my departure.
Good luck to others.
The 60-90 days figure in my separation papers is not realistic for getting the pension check. (Got ax Dec.3rd after 30 years.) I was told that the pension office at mother Gannett has only 3-4 employees. You would of think others have been transferred into that office to help with the high #’s of layoffs? Met with a financial adviser to get the paperwork started on the 401K rollover, had to sign more paperwork, then when I brought the house.
ReplyDeletein indy a few years ago, before any layoffs, a guy retired after following proper procedures. he was entitled to monthly payments. he DIED before getting the first check. (no clue how long it took his widow to get her {reduced} payments.)
ReplyDeleteI got laid off in November, with a crappy severance package, so if that pension notice/payout don't arrive in early 2009, I am going to be hurting. I plan on living on the payout for a bit since there is no way I am going to find another newspaper job anytime soon. Boy, this company just keeps adding insult to injury. You would think they would at least want to get us what we're owed as quickly as possible after throwing us out onto the streets for reasons that go well beyond their supposed financial problems. Count me in if there is a class action suit to expedite these pension payouts.
ReplyDeleteI left in August and rolled over pension money in October. They were very professional. Has your former HR person or someone at your location actually sent anything in to the pension people? Nothing happens automatically, I think.
ReplyDelete5:46: Yes I filled out paperwork. I sent it in and have already met with a financial adviser about rolling it into a money market. Gannett sent me my paperwork after my 8 week severance was up in October. I had to hound Corporate to get the paperwork because my local HR told me there was nothing they could do for me and gave me Corp # to call. Once the paperwork mailed it back. Thats when they started this run around of, "you should receive your check in 2 weeks, if you don't feel free to call back"...over and over. Finally I contacted my local HR dept and they told me they called corporate and that "I should be receiving it in the mail any day". I asked for the persons name and number she talked to at Corporate. 2 weeks later and still no check. So Friday I called the name of the guy she gave me at corporate and asked him where my check was. He said he did not handle pension payouts and he had no idea why I was given his number. I'm just sick that they feel the need to screw us any more than they have already!
ReplyDeleteWhen I left Gannett, I had my attorney submit my paperwork requesting roll-over to a pre-opened
ReplyDelete401 K; also requested full payout on my pension $ to a separate 401 K money market account at my bank.
Everything deposited as FOB within
2weeks... no taxes witheld.
My advice- get your attorney involved and get your $$$ out of GCI at once.
I had absolutely no problem getting my pension money rolled over to my IRA. Simple, easy, it took about two months but it was an easy process.
ReplyDeleteFirst off, it's a retirement plan. There is no hurry except for the legal requirements to get the money.
ReplyDeleteSecond, I got mine in 9 weeks without a problem. So maybe you didn't send in the correct paperwork.
Rolled mine over in 10 weeks from date I left. No problem. Very efficient and helpful people
ReplyDeleteThey can't hold the money for up to a year. That's simply not true. They have 30 days from the time you send them the paperwork requesting the rollout to send you the check.
ReplyDeleteSounds to me like you need to contact a lawyer right now.
To everyone: Force them to follow the law by writing letters to your HR department and to Corporate that you send certified mail, return receipt requested -- or even by overnight mail. Use a delivery method that requires signatures and dates. That way they can't say they haven't gotten it, haven't seen it, are you sure you sent it, etc.
Kill them with paperwork and hold them accountable every step of the way. That's what I did when I left a year ago and they didn't mess around about sending my 401(k) and pension rollout checks.
9:45 I am the originator of this letter and I sent Gannett back the paperwork that THEY sent ME. How could I of sent them wrong paperwork unless they sent me wrong paperwork?
ReplyDeleteIm glad that many of you got your money no problem. Some of us have not and when your local HR is more worthless than the corporate pension dept., then your screwed without an Attorney. I will be contacting one tomorrow.
11:16, what number did you call to reach these "Very efficient and helpful people"? Maybe they can help me?
ReplyDeleteAs of today 1/14 I have not received any payment. I was laid off back in Sept. and received the paperwork the first of October. I filled it out and sent it in 2 days later. I followed up with a phone call a week later. "It is in process and you should receive a check within 2-3 weeks" Three weeks later, no check. I called and got the runaround. I followed up with multiple emails - 1st-no response, 2nd-It has been processed and waiting for approval, 3rd-no response, 4th-no response. 6+ phone calls- Called 2X and got the runaround. I called 3rd time and asked for the person in charge of Gannett retirement and I got a clerk with no power to do anything. I asked who she reported to and she would not give me that information. I hung-up and called back and talked to the operator to find out who is in charge of the retirement, I was transfered to what seemed to be a general voice mail account - no name, phone numbers??? I am in a grave situation and am in the process of losing my home and having to file a medical bankruptcy, due to the fact I was going to use the money to pay for COBRA coverage. I may just be forced to file a full bankruptcy. I have called several more times and emailed with no luck. I have contacted the US Dept of Labor and am waiting for filing instructions. I have also contacted my state department of labor. Due to my financial situation I am unable to hire a lawyer. I have found a lawyer that might take my case pro bono. I will let you know what happens. For the rest of you who are letting Gannett earn interest on your money. Get legal help or contact your State and Federal Labor Dept. with all the complaints perhaps someone will be held accountable...
ReplyDeletewow, i am SO happy that i found this blog.
ReplyDeletei was laid off in august and i have been getting a major hassle from them in trying to get my pension information. i've tried everything. sigh... my attorney said a complaint needs to be opened with the us dept of labor because i should have legally gotten it by now.