[Ipg-smz] Two lumps of "retirement" coal in my holiday stocking

[David Needle]

Ah if only Tom ! I haven't completely closed the books on this, but it
seems extremely unlikely. (I private email replied to Tara that the
California unclaimed property entries are all for other "David Needle's" -
surprisingly there are quite a few! )

So of the two documents from Social Security, the one for Computer Currents
Publishing  says "Computer Currents Publishing 401K Retirement Plan". I can
do a bit more digging, if it was a 401K I rolled it over to American
Century and then later Fidelity. There would be no need to leave anything.

For CMP it says the Plan Name is: "CMP Media Inc. Pension Plan" so perhaps
that is the profit sharing Rob was referring to. But could this possibly be
something that didn't vest or that I wasn't entitled to after working there
only two years? In any case, with CMP being sold a few different times and
the entity that was "CMP" long gone, is there anything to pursue and if so
where to start? I'm open to suggestions!  😀

On Mon, Dec 23, 2019 at 10:51 AM Tom Henderson via Ipg-smz <
ipg-smz at netpress.org> wrote:

> Yep, I'm thinking Mr Needle has a "windfall".
>
> Tom
>
>
> On 12/23/19 1:44 PM, Evan Schuman via Ipg-smz wrote:
>
> But is it ONLY bankrupt firms? And how are they defining bankrupt?
>
> In CMP’s case, it was acquired. What happens to those accounts?
>
>
>
> _______
>
> Evan Schuman
>
> eschuman at thecontentfirm.com
>
> 973-993-8098 (voice)
>
> Computerworld weekly columnist (Column archive:
> http://www.thecontentfirm.com/weekly-column-on-computerworld)
>
> Moderator for MIT Sloan Management Review events
>
> Google Search: http://lmgtfy.com/?q=Evan+Schuman#
> <http://lmgtfy.com/?q=Evan+Schuman>
>
> https://twitter.com/eschuman
>
> www.linkedin.com/in/schumanevan/
>
> *Member, Internet Press Guild: http://netpress.org/ <http://netpress.org/>*
>
>
>
> *From:* Ipg-smz <ipg-smz-bounces at netpress.org>
> <ipg-smz-bounces at netpress.org> *On Behalf Of *Dan Rosenbaum via Ipg-smz
> *Sent:* Monday, December 23, 2019 1:24 PM
> *To:* ipg-smz at netpress.org
> *Cc:* Dan Rosenbaum <dan at panix.com> <dan at panix.com>
> *Subject:* Re: [Ipg-smz] Two lumps of "retirement" coal in my holiday
> stocking
>
>
>
> “Either way, the topic of 'what happens to my retirement accounts when
> the company goes 'poof'?' may become an interesting article. “
>
> Well, the direct answer’s easy, although following through on it will not
> be.
>
> There’s government agency called the Pension Benefit Guaranty Corporation
> (PBGC) that takes over defined-benefit pension plans of bankrupt companies.
> It was formed by the ERISA Act of 1974. Right now, there are something like
> 5,000 pension plans being paid out by the PBGC.
>
> The money doesn’t come from general tax funds. It’s funded by insurance
> premiums paid by defined-benefit plan sponsors, assets of the funds it
> takes over, and recoveries from bankrupt pension funders.
>
> So yeah: company goes away, it sticks a federal government agency with
> paying off its pension liability.
>
>
>
> d
>
>
>
>
>
>
>
>
>
> *From: *Ipg-smz <ipg-smz-bounces at netpress.org> on behalf of Mark
> Brownstein via Ipg-smz <ipg-smz at netpress.org>
> *Reply-To: *<ipg-smz at netpress.org>
> *Date: *Monday, December 23, 2019 at 1:14 PM
> *To: *<ipg-smz at netpress.org>
> *Cc: *Mark Brownstein <IPG at brownstein.com>
> *Subject: *Re: [Ipg-smz] Two lumps of "retirement" coal in my holiday
> stocking
>
>
>
> I wouldn't be too surprised to find that the states where these companies
> were located had the funds in an impound account or two. I believe that the
> retirement accounts established by these companies HAD TO BE maintained
> separately from the core businesses, so the funds may still be there,
> gathering interest all these years, if you can find them.
>
> Maybe the Social Security Administration can point to to where these funds
> are reportedly being held and, counterintuitively, actually HELP you to
> find those accounts - or whatever agency is still holding them for you.
>
> It may take some work, but the reward should be well worth it.
>
> Either way, the topic of 'what happens to my retirement accounts when the
> company goes 'poof'?' may become an interesting article.
>
>
>
>
>
> On 12/22/2019 1:44 PM, David Needle via Ipg-smz wrote:
>
>
>
>
> I recently applied for social security - yeah, I'm that old. Sigh. But not
> retiring.
>
>
>
> Anyway, I just received two letters from the Social Security
> Administration headed
>
> *Potential Private Retirement Benefit Information. *
>
>
>
> Each one begins: *"We are writing to tell you that you, or the worker
> whose Social Security number appears at the top of this form, MAY be
> entitled to some retirement benefits from a private employer .*
>
>
>
> Long story short, one letter says there is a "value" of $18,376 in a
> retirement account connected to CMP Publications reported in 1998 and the
> other lists $34,687 from Computer Currents Publishing reported in 1996.
>
>
>
> Both of those companies are long gone so I assume this is just some
> unresolved accounting by Social Security. While I don't remember these
> exacty figures, I did have a 401K at both companies so I assume that is
> what is this is in reference to and the money isn't actually owed to me or
> even exists anywhere as I would have rolled it over long ago.
>
>
>
> Oh well, got excited there for a minute.
>
>
>
>
>
>
>
> -- Ipg-smz mailing list Ipg-smz at netpress.org
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>
> --
> Tom Henderson
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> +1 317 250 4646
> Twitter: @extremelabs
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>
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