My brother recently filed for social security benefits.
During a call the SSA office informed him that an old employer reported an old lump sum amount for a pension he was vested in from 1991 in the amount of $12,000. Many mergers later, the company plan is still around and he was able to find a customer service rep that found him in the database and will be sending paperwork. He was unaware that this old job even had a pension when he worked there.
My question is . . .since the $12k was reported in 1991, is there a chance that this lump sum has grown because it was still invested in the pension plan or will the amount be frozen as of 1991 when he left employment?
During a call the SSA office informed him that an old employer reported an old lump sum amount for a pension he was vested in from 1991 in the amount of $12,000. Many mergers later, the company plan is still around and he was able to find a customer service rep that found him in the database and will be sending paperwork. He was unaware that this old job even had a pension when he worked there.
My question is . . .since the $12k was reported in 1991, is there a chance that this lump sum has grown because it was still invested in the pension plan or will the amount be frozen as of 1991 when he left employment?
Statistics: Posted by count damoney — Tue Apr 09, 2024 12:59 pm — Replies 1 — Views 104