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

Tue Dec 24 20:06:42 UTC 2019

Thanks Tom,
Yes, I was pondering who on the IPG list might work at an Informa site and
could point me somewhere. I'll try Curtis.

RE: Your thing at Merrill Lynch: "How much is in it? In 2008, it was $11K,
I'm told."
Definitely worth pursuing. Even in the Bay Area that's more than a few
lunches!

Thanks for the advice.

On Mon, Dec 23, 2019 at 5:20 PM Tom Henderson via Ipg-smz <
ipg-smz at netpress.org> wrote:

> Informa is the inheritor of the assets. 401k and other plans should have
> separate fiduciary. Informa bought United Media's assets. United bought CMP
> (and Miller Freeman). It might be that Curtis Franklin has survived ALL OF
> THESE, and might have pointers as to who did what to whom, when.
>
> Your other assets might be on other missing assets sites. If you have time
> and want to surf, try it.
>
> I have a strange pension plan floating at Merrill Lynch, a settlement from
> long ago, I'm told. Eventually I'll get it.... or my kids will. How much is
> in it? In 2008, it was $11K, I'm told. Not much, but a few lunches, eh?
>
> Tom
>
>
> On 12/23/19 6:39 PM, David Needle via Ipg-smz wrote:
>
> 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
>> http://netpress.org/mailman/listinfo/ipg-smz_netpress.org
>>
>> --
>> Tom Henderson
>> ExtremeLabs, Inc.
>> +1 317 250 4646
>> Twitter: @extremelabs
>> Skype: extremelabsinc
>>
>> --
>> Ipg-smz mailing list
>> Ipg-smz at netpress.org
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>>
>
> --
> Tom Henderson
> ExtremeLabs, Inc.
> +1 317 250 4646
> Twitter: @extremelabs
> Skype: extremelabsinc
>
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> Ipg-smz mailing list
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>
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