[Ipg-smz] Two lumps of "retirement" coal in my holiday stocking
David Needle
davidneedle at gmail.com
Tue Dec 24 23:59:54 UTC 2019
Thank you Christine, MUCH appreciated. I'm not very optimistic, but it will
be interesting to see if this leads to anything. Mitch Wagner was also nice
enough to contact me about this. He was actually at CMP when I worked there
and has continued to be employed at the newer entities, including now at
Informa. So I'm touch with him about it. Basically at this point I think
the first step would be to make a connection with someone at Informa in
finance (or perhaps HR/Benefits) there to see if they have any way to track
down whether the funds were ever distributed.
* But if you have any other suggestions or thoughts on this feel free to
email me directly, no need to keep it a group discussion.
davidneedle at gmail.com If anything does come of this I will tell the tale
here. THANK YOU
On Tue, Dec 24, 2019 at 3:19 PM Christine Hall via Ipg-smz <
ipg-smz at netpress.org> wrote:
> Hi David,
>
> I've been an employee at Informa since it purchased Penton a couple of
> years ago. I don't know the answer to your question, but I can check and
> see what I can discover, if you wish.
>
> This will have to wait until after New Year's however. Most Informa
> employees have been given holiday time starting today until 1/2, so
> it'll be difficult finding anyone in the office.
>
> Christine Hall
> Publisher & Editor
> FOSS Force: Keeping tech free
> http://fossforce.com
>
> On 12/24/19 3:06 PM, David Needle via Ipg-smz wrote:
> > 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 <mailto: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 <mailto: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 <mailto:
> eschuman at thecontentfirm.com>
> >>>
> >>> 973-993-8098 <tel: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/
> >>> <http://www.linkedin.com/in/schumanevan/>
> >>>
> >>> /Member, Internet Press Guild: http://netpress.org//
> >>>
> >>> *From:* Ipg-smz <ipg-smz-bounces at netpress.org>
> >>> <mailto: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 <mailto:ipg-smz at netpress.org>
> >>> *Cc:* Dan Rosenbaum <dan at panix.com> <mailto: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
> >>> <mailto:ipg-smz-bounces at netpress.org>> on behalf of Mark
> >>> Brownstein via Ipg-smz <ipg-smz at netpress.org
> >>> <mailto:ipg-smz at netpress.org>>
> >>> *Reply-To: *<ipg-smz at netpress.org <mailto:ipg-smz at netpress.org
> >>
> >>> *Date: *Monday, December 23, 2019 at 1:14 PM
> >>> *To: *<ipg-smz at netpress.org <mailto:ipg-smz at netpress.org>>
> >>> *Cc: *Mark Brownstein <IPG at brownstein.com
> >>> <mailto: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
> >>> <mailto: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 <mailto: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 <mailto:Ipg-smz at netpress.org>
> > http://netpress.org/mailman/listinfo/ipg-smz_netpress.org
> >
> >
>
> --
> Ipg-smz mailing list
> Ipg-smz at netpress.org
> http://netpress.org/mailman/listinfo/ipg-smz_netpress.org
>
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