Home  >  Financial Articles and Q&A  >  To Whom it Concerns From 1973-1983 I worked for...

To Whom it Concerns From 1973-1983 I worked for Chemetron in Ashland, Oregon. I thought we had a retirement plan but when Chemeton filed for bankruptcy and I lost my job I never received anything for the retirement years I had put in. I moved out of state soon after and probably didn’t send a m

Coastal Dynamics was acquired in 1973 and Medical's dental analgesic units were transferred to it. Coastal, a manufacturer of dental handpieces and chairs, was operated as a separate unit of Chemetron until 1978, when it was folded into Medical Products. Scientific Research Instruments Corporation, a former subsidiary of G. D. Searle, was bought in 1976. SRI manufactured mass spectrometers and respiratory intensive care monitoring systems, both the result of highly sophisticated medical technology. This operation was moved from Baltimore to St. Louis in late 1977.

      Chemetron had purchased Stile-Craft in 1971 and, with Carl Sciuto at the helm, the Medical Products Division was formed. A leading steel manufacturer, Allegheny International, Inc., noticed Chemetron's profitability, especially that of its new medical products division, which was producing gas outlet stations, medical air compressors and vacuum systems for hospital settings. Overnight Chemetron was catapulted into a global market after a 1977 merger with Allegheny.

      That year the Chemetron Medical Division, a subsidiary of Allegheny International, quickly implemented an aggressive growth plan. Vista Lighting, a Santa Ana, California producer of walls, patient service consoles and hospital bed lighting, was acquired in March 1977 (Vista was sold in 1982.)

      In June 1977 Chemetron acquired Gomco®, a well-recognized and leading manufacturer of portable aspirators and surgical, post-operative and homecare portable drainage pumps. The acquisition enabled Chemetron to fulfill its promise of becoming a leader in the US for portable suction equipment, typically used when in-wall suction is not available or not indicated. Our new stance in the healthcare products field signified an alliance of some of the most well-established products and trade names in the healthcare field and prompted us to adopt an appropriate name in 1980: Allied Healthcare Products, Inc.

      In 1985 Allegheny sold Allied Healthcare to the Harbour Group, a move which brought our now internationally-known company full circle to its St. Louis roots.
Jun 19, 2013 by Mark from Florence, OR in  |  Flag
2 Answers  |  3 Followers
Follow Question
1 vote

Marc, the law that created 401(k) plans was adopted in 1978, so it is possible, but unlikely you had a 401(k). You probably had a pension plan, aka defined benefit plan. Typically they utilize a formula based on age, income, and years of service.

If you had a pension plan, and it is vested to you as per the terms of the plan, it is out there somewhere. Every plan has a plan administrator, that, as the name implies, administers the plan.

It is possible that, because it is an older plan, that it was just terminated. If that happened, the undistributed assets go to a Qualified Termination Administrator, or QTA.

The Employee Benefits Security Administration, or EBSA, is run by the Department of Labor. You would go the the Pension Benefit Guaranty Corp website at http://pbgc.gov/. Due to the tangled web of mergers and acquisitions, this might be your best hope. I would try this first.

If you had a plan that was acquired by another company by merger or acquisition, I am afraid you will need to do some forensic research. Plans are filed by the employer Tax ID number. If you have any documentation from your former employer, check to see if there is a FEIN on it. Then I suggest you contact HR at any of the existing companies that may have morphed from Chemetron and ask for the plan administrator of their pension plans, hopefully one that still has that tax ID. Call the plan administrator(s) to see if they have an account for you. It is unlikely that an employee at HR would be able to help. This plan, is, in all likelihood, older than they are.

I would also check with your state's 'unclaimed assets' fund.

As I said previously, if you had a plan, it is out there somewhere. But it is also possible, that, for whatever reason, you were not vested, and you have no claim.

Hope this helps.

1 Comment   |  Flag   |  Jun 19, 2013 from Delray Beach, FL
Rich Winer

Good advice. I believe that Allied Healthcare (above) acquired Coastal Dynamic, so they might be able to help him.

Flag |  Jun 19, 2013 near Woodland Hills, CA

1|600 characters needed characters left
0 votes
Rich Winer Level 20

You might check with Allied Healthcare Products, Inc. at 800-444-3954. In the future, I would advise against posting your social security number on any public forum.

Comment   |  Flag   |  Jun 19, 2013 from Woodland Hills, CA

1|600 characters needed characters left