Pension payment changed


Old 10-20-18, 07:34 PM
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Join Date: Sep 2018
Location: United States
Posts: 1
Pension payment changed

My employer ended their pension program in 2009. I was vested in that plan. I was in the same position since 2001 but our division was transfered to a subsidery for a couple years, then the sub was merged into the main us company. This resulted in two pension programs and very confusing.

since 2009, we received regular mailings on the status of our pension. Each time that happened, I called HR to confirm my understanding and that the information was correct. Each time they affirmed that it was.
This year, just weeks before I applied for my pension, they sent out a letter stating that there were mistakes in their calculations and my pension payment was cut by 1/3. The documentation of the plant seems to give them vast latitude. However, do they not have a fiduciary responsibility to me such that I can rely upon the information they provided? The amounts that they promised were an element in my accepting a severance package six months earlier.

Can they be required to honor a pension amount that they have promised and confirmed for the past 8 years?

Last edited by Kevinmc1953; 10-20-18 at 07:38 PM. Reason: Typo
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