What is the name of your state (only U.S. law)? Illinois
On May 17 2010, I called the investment company that handles the pension fund of my previous employer to change my pension commencement date to June 1st instead of July 1st that I have requested before, I was told it would take 7 to 10 business days for the Actuarial dept to recalculate the pension amount, because they have already calculated the amount for the distribution on July 1st.
10 days later I called but was told that there was no answer from that department yet and I was told to call back a week later which I did but was told again to call back the following week, finally after several calls, on June 15, the person who answered the call told me that he was going to write that department a note to ask them to speed things up, I called on June 17th, and was told that the department refused the request, and said that if I have made my request on May 15th or before instead of on May 17st, my request would have been acceptable. They do have the policy to allow them to back track one month to begin the pension distribution.
So now I stand losing one month of pension, do I have any recourse on their decision?
Thanks in advance for your answers.
nini
On May 17 2010, I called the investment company that handles the pension fund of my previous employer to change my pension commencement date to June 1st instead of July 1st that I have requested before, I was told it would take 7 to 10 business days for the Actuarial dept to recalculate the pension amount, because they have already calculated the amount for the distribution on July 1st.
10 days later I called but was told that there was no answer from that department yet and I was told to call back a week later which I did but was told again to call back the following week, finally after several calls, on June 15, the person who answered the call told me that he was going to write that department a note to ask them to speed things up, I called on June 17th, and was told that the department refused the request, and said that if I have made my request on May 15th or before instead of on May 17st, my request would have been acceptable. They do have the policy to allow them to back track one month to begin the pension distribution.
So now I stand losing one month of pension, do I have any recourse on their decision?
Thanks in advance for your answers.
nini
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