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How do I get my retirement money?

I worked for Veco in 1981. I have a Veco Corporation Retirement Savings Plan valued at $2,093. When I call, I'm told the company doesn't exist?

Jul 15, 2013 by Christopher from Caruthers, CA in  |  Flag
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Brian Kuhn CFP® Level 17

Hi there thanks for reaching out. You need to contact the human resources department of your former employer or the investment provider of the 401(k) plan. The contact information for the 401(k) provider can be found on your statements if one of those is available. Feel free to contact me via email to continue the conversation.

Comment   |  Flag   |  Oct 25, 2014 from Fulton, MD

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Christopher, every plan has a plan administrator. Even if the plan was terminated, it has a Qualified Termination Administrator, or QTA.

The challenge is finding your plan administrator. Veco was taken over by CH2M Hill. They may or may not have absorbed your plan. I would call HR at CH2M Hill and ask for someone who might know about the takeover; it is very likely the person who answers the phone was not even born in 1981, and will have no idea what you are talking about. Try to find someone who may have information

But first, I would take the path of least resistance. It sounds like a 401(k) plan. The Employee Benefits Security Administration, or EBSA, is run by the Department of Labor. EBSA keeps track of who the QTA would be. Just go to http://askebsa.dol.gov/AbandonedPlanSearch/ and search for your plan.

If it is a pension plan and not a 401(k), you can search for unclaimed pensions at the Pension Benefit Guaranty Corporation (PBGC) website http://search.pbgc.gov/mp/mp.aspx I would also check with your states 'Unclaimed Property' fund.

1 Comment   |  Flag   |  Jul 16, 2013 from Delray Beach, FL
Christopher

Thank you.

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Flag |  Jul 30, 2013 near Caruthers, CA

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Start with the Alaska Dept of Corporations database where company Veco was domiciled. Veco was sold to CH2M HiLL (a global energy consortium in 2012 - but most likely they would not have assumed the pension liabilities for the former company).

The Vevo corporate filings would have a pension plan administrator listed for that company and the custodian firm that held (or holds) any account for which you might have a claim. Once you identify the plan administrator they should be able to help you. If teh acct is still very small, it might be a lot easier to instruct them to just liquidate the account and send you the after-tax portion. If you are under 59.5 an additional 10% penalty will occur, you can avoid that by rolling it over to an IRA rollover account. Consult your tax advisor before taking action.

Comment   |  Flag   |  Jul 15, 2013 from Walnut Creek, CA

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Try this website: http://www.pbgc.gov/

This is the Federal Government's site for the Pension Benefit Guaranty Corporation. If it's out there, you should be able to find it there.

Let me know if you have additional questions...

Best of Luck,

Rod Miller

Comment   |  Flag   |  Jul 15, 2013 from Springfield, MO

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You may want to try calling CH2M Hill. It appears Veco was aquired in 2007. It is possible that your retirement plan is sitting with the acquirer.

Comment   |  Flag   |  Jul 17, 2013 from Cranford, NJ

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You should have a statement of your Veco Corporation Retirement Savings Plan so I would contact them at the phone number or other such information which should be printed on your account statement. You may also request assistance from a professional financial services representative like an Investment Advisor Representative or CFP. They will need your authorization to represent them as well as your applicable personal information.

Comment   |  Flag   |  Jul 30, 2013 from Portland, OR

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