Pension Plan

[wm1236]

What is the name of your state (only U.S. law)? Wisconsin


We (80 Employees) Thought is was a good idea to join a union in 2007. After we joined and negotiated our first contract it was agreed to that the employer would contribute 10-25 cents per hour to our pension fund. (depending on the year of contract)

Well in 2012, We de-certified our union due to their political leanings and attempts to "recruit" members for political purposes that we had NO interest in. The vote was 78-2 in booting the union out of our workplace!

My question is, I have documentation that says my employer paid 25 cents an hour, for 4719 hours, into the union backed pension plan. (.25 X 4719 = 1,179.75)

I am only a part-timer, A few of the full-timers have 3 or 4 times that.

We have tried to recoup this money and roll it over into the current 401 that our employer currently has. BUT, no one seems to know where ALL this money is! Our employer says that it was paid to the union on our behalf. The union refuses to answer emails and certified mailings.


ANY SUGGESTIONS FOR US?

Thanks for reading and WE appreciate any help.

 

[OHRoadwarrior]

The pension money is subject to the terms of the plan. You are only entitled to collect any pensions accrued during the period. If there was a 5 yr vesting, you may not have met the requirement for anything.

http://www.dol.gov/ebsa/faqs/faq_consumer_pension.html

 

[davew128]

The pension money is subject to the terms of the plan. You are only entitled to collect any pensions accrued during the period. If there was a 5 yr vesting, you may not have met the requirement for anything.

http://www.dol.gov/ebsa/faqs/faq_consumer_pension.html

It sounds like the plan has been terminated in which case typically all unaccrued benefits become fully vested.

In either case, I am unaware of anything that allows benefits from a defined benefit plan to be moved into a defined contribution plan.

 

[OHRoadwarrior]

It sounds like the plan has been terminated in which case typically all unaccrued benefits become fully vested.

In either case, I am unaware of anything that allows benefits from a defined benefit plan to be moved into a defined contribution plan.

From what I was able to dig up, it appears you are correct.