EPISODE 8~ FIND YOURS: How To Find And Claim A Lost Pension

I WANT TO TALK ABOUT HOW TO FIND LOST PENSION MONEY.

THE PENSION BENEFIT GUARANTY CORPORATION IS THE FIRST PLACE TO LOOK. THE PBGC IS AN INDEPENDENT AGENCY CREATED BY THE US GOVERNMENT TO INSURE PENSIONS AND PAY THEM IF THE COMPANIES BEHIND THEM FAIL. THE PENSION BENEFIT GUARANTY CORPORATION HAS A SEARCHABLE DATABASE OF 38,000 PEOPLE WHO ARE OWED $300 MILLION DOLLARS IN PENSIONS. THE AGENCY SAYS IT OWES INDIVIDUALS AMOUNTS RANGING FROM 12 CENTS TO A MILLION DOLLARS. I WILL LINK YOU TO THE PBGC SEARCH PAGE FROM EASYMONEYSHOW.COM/08.

A COUPLE OF IMPORTANT NOTES: THE PBGC IS ONLY INVOLVED IN OLD FASHIONED PENSIONS, NOT 401KS OR PROFIT SHARING PLANS. AND IT ONLY COVERS THOSE EARNED AT PRIVATE COMPANIES. THE FIRST STEP, WHEN YOU GO TO THE AGENCY’S WEBSITE IS TO LOOK AT THE LIST OF COMPANY PENSION PLANS THE PBGC HAS TAKEN OVER AND SEE IF YOURS IS AMONG THEM. THERE ARE ALL SORTS OF DEFUNCT COMPANIES ON THE LIST, FROM CIRCUIT CITY, THE ELECTRONIC STORE CHAIN… TO LEHMAN BROTHERS, THE BIG FINANCIAL FIRM THAT TOPPLED DURING THE 2008 FINANCIAL CRISIS.

NEXT YOU SHOULD SEARCH YOUR OWN NAME ON THE PBGC SITE. OR IF YOU ARE THE BENEFICIARY OF SOMEONE LIKELY TO HAVE A LOST PENSION, SEARCH THEIR NAME. YOU DO THIS ON THE MAIN SEARCH PAGE UNDER “UNCLAIMED PENSIONS” AND, ONCE AGAIN, I WILL LINK YOU TO THE RIGHT SPOT. IF YOU FIND YOUR NAME, YOU CAN CLICK ON IT AND FILL OUT A FORM TO BEGIN THE CLAIM PROCESS. YOU COULD BE RECEIVING CHECKS IN AS LITTLE AS TWO MONTHS.

IF YOU DON’T FIND YOUR MISSING PENSION, BUT FEEL SURE YOU HAVE ONE, THE PBGC HAS AN EXCELLENT ARTICLE ABOUT HOW TO DO THE DETECTIVE WORK OF AN ADVANCED SEARCH AND I WILL ALSO LINK YOU TO THAT FROM EASYMONEYSHOW.COM/08.

I LOOKED IT UP AND IF YOUR PENSION WAS INSURED BY THE PBGC, YOU ARE GUARANTEED A PENSION OF BETWEEN 16-THOUSAND AND NEARLY 200- THOUSAND DOLLARS, DEPENDING WHAT AGE YOU WERE WHEN YOU LEFT THE COMPANY. SO IF YOU WERE EVER IN A PENSION PROGRAM AT ONE OF YOUR JOBS, THIS IS WORTH LOOKING INTO!

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