STAY IN TOUCH!
ALERT : for Surviving Spouses
09/12/2016
Below is a copy of an e-mail I sent to one of our surviving spouses who said the PBGC told her she would get nothing after her husbands death. I don't know how many surviving spouses were told this. All surviving spouses would get at least the minimum amount of $125.00 per month for life. I know it is not much but we want everyone to get every cent they are entitled to. Of course, surviving spouses of retirees who chose to take a reduced pension would get the $125.00 plus 1/2 the reduced amount her retired spouse was getting. (After informing the PBGC of their error, they looked a little deeper and said they were mistaken and she would be getting the $125.00 per month for life!)
Hey Phyllis, below is the information you need to convey to the PBGC. I can't believe they would screw up such a simple straightforward benefit. Like I said, if this doesn't do the trick, let me know. It should not be difficult to fix. Jerry
The last actual Pension Agreement printed for the employees was "Pension Agreement Between Slater Steels Corporation Fort Wayne Specialty Alloys Division and United Steelworkers of America" effective October 1, 1989. The last Summary Plan Description ( which is a summary of the actual plan ) printed for the employees was effective June 1, 1995 and received by the employees June 1998. These were the agreements in effect at the time the PBGC took over the pension plan in 2003.
Page 14 of the Pension Agreement: SURVIVING SPOUSE AGREEMENT: Amount of Benefit: Your surviving spouse will receive the following monthly benefit for life: for each month after reaching age 60, 50% of your pension less 50% of the Social Security widow's (or widower's ) benefit,but not less than $125.00
page 18-19 of Summary: SURVIVING SPOUSE BENEFIT: after the date the surviving spouse attains age 60 (or if you die after your spouse has attained age 60), the Surviving Spouse Benefit is equal to 50% of your accrued benefit based on the regular benefit levels minus 50% of the Social Security widow's (or widower's) benefit, with a minimum monthly benefit of $125.00.
Below you will find an on-line copy of the Joslyn News from 1970. It was provided to me by Scott "Scooter" McGowen who has been on a mission to reunite former employees with their past. The sentiment was greatly appreciated and the hope is that others will be able to enjoy Scooter's generosity!
