Protecting Your Pension
When United Airlines recently announced it planned
to postpone putting $72.4 million into its pension
fund, the federal agency known as the Pension
Benefit Guaranty Corporation (PBGC) stepped in to
try and require the payment in bankruptcy court.
Created by Congress 30 years ago, PBGC guarantees
basic pension benefits for 44 million Americans. So
even if a company goes out of business or terminates
a pension plan, employees can be sure of some kind
of benefit in retirement.
Yet thousands of Americans, in Massachusetts and
around the country, don't even know the PBGC has
money for them, waiting to be claimed. For example,
PBGC is looking for 145 people with long lost
pensions from the former Bank of New England, and
another 140 people who used to work for the Ninety
Nine Restaurant in MA.
Check and see if you have a long lost pension at