BurntbyCorporat
Junior Member
Regaring pensions, is there a legal precidence that states that corporations must fully vest employees currently participating in a pension benefit when the corporation is acquired and the pension is discontinued?
Originally it was communicated that the pension monies would automatically be rolled into the seperate 401k benefit with 100% vesting. The original vesting period prior to acquisition was 5 years, whereas the vesting period on the 401k is 3 years.
I am now fully vested in the 401k, however the pension monies are being withheld as they're saying that they did not indicate (as they did via email) that the pension was being discontinued, only rolled into the 401k. Thus the monies in the pension are still not being allocated or shown as being fully vested.
Thoughts?
Originally it was communicated that the pension monies would automatically be rolled into the seperate 401k benefit with 100% vesting. The original vesting period prior to acquisition was 5 years, whereas the vesting period on the 401k is 3 years.
I am now fully vested in the 401k, however the pension monies are being withheld as they're saying that they did not indicate (as they did via email) that the pension was being discontinued, only rolled into the 401k. Thus the monies in the pension are still not being allocated or shown as being fully vested.
Thoughts?