Legal Question in Investment Law in Virginia

choice of pension payout

I have a pension from a job that I had in the early 90's. At age 65, I became elgible to receive this fund. Last year, I was contacted and asked to provide information, which I did. This year I was contacted again and was asked to provide the same information and once again, did so. I received several forms that was attached to a non refund annuity, through research, I found this plan,was best for the insurance company. I did sign any of the forms but was told by an employee of the company that I would receive further information-the total pension amount and possible plan flexibility, which did not seem to be in the proper order. Am I missing something or is this both standard and legal.

Thank you!

Asked on 11/14/05, 6:15 pm

1 Answer from Attorneys

Michael E. Hendrickson Attorney & Counsellor at Law

Re: choice of pension payout

What you're missing would appear to be the payout

due you under the plan. You should send the company a certified letter(return receipt requested) demanding to receive by a date certain whatever fund you're eligible to receive.

Thereupon, if no fund payments are forthcoming,

you should engage the services of an ERISA or other pension litigator who will go after these slugs and force them to disgorge what they will otherwise not provide, apparently, on a voluntary basis.

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Answered on 11/14/05, 7:50 pm


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