Vested Date Calculaton

[JudiJ]

Help! The PBGC is stating that I can't collect my pension until I am 65 - even though I have the appropriate years of service and age.

They say the pension was frozen in 2003 and at that point I only had 20 years of service. Claiming that I was not vested when the pension was frozen.

I explained that i am still an employee and WAS fully vested in the plan when Avaya filed for bankruptcy in 2017.

Does anyone have advice on how I convince them i am eligible to receive my pension NOW.

Appreciate any guidance!!!

[remberger]

Hi Judi3,

I would suggest that do contact you US Congressman or Senators. I have had some success getting answers to questions from the PBGC and the IRS, even though they weren't always the answers I wanted. A call to your Congressman's local office may be a good way to get started. Your Congressman will ask you to sign a release asking you to allow him/her to contact the PBGC on your behalf. In a letter, clearly state all the facts and why you think you are entitled to a vested pension.

Best of luck.

Bob Emberger

[vernlarson]

JudiJ

No need to contact anyone other than the PBGC.

They are correct, you cannot start drawing your vested pension until you are 65. You could not with Avaya or now with the PBGC.

The PBGC can explain to you what the law requires. If you are now 65 or 180 says before you turn 65 you can apply to start your pension with
the PBGC.

Conatct them.

Regards, Vern Larson - President - Avaya Retirees Chapter of the National Retiree Legislative Network.
vernlarson @coxx.net

[JudiJ]

Hi Vern, thank you for your response. However, I respectfully disagree. I was/am fully vested in the Avaya Pension Plan and could have started drawing on it 3 years ago. However, I remained employed through the bankruptcy.

I just spoke to the Avaya Benefits expert and he also confirms I am eligible to draw the pension. ( Albeit a very small amount given when it was frozen )

Between my years of Service + Age = Magic number I should be covered.

The Avaya person is now reaching out to the PBGC for confirmation.

I will keep you posted. If you are indeed correct - a lot of people will be very unhappy.

Judi

[vernlarson]

Ok,

Sound good. You never mentioned that your age and service met the requirements.
If you met them you are pension eligible period. Vesting has nothing to do with that.


Good luck.

[JudiJ]

Sorry - important piece of information! Thanks!

[JudiJ]

Update to my original post. The PBGC has reconsidered my request and has not determined I am eligible to collect on my pension immediately. Good news.

The letter did include a reference to the HCTC. Does anyone know if there is an income restriction to the credit? For instance, if I get another job that does not include benefits, does the HCTC to away?

Thank you all!
Judi