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All relevant compensation, such as
commissions, overtime, and bonuses, (if these were to be included in
your plan) was not included in calculating your benefits.
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The calculation was not based on all
your years of service with the company, or all work within different
divisions.
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The plan administrator used an
incorrect benefit formula, such as wrong interest rate.
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Plan used wrong social security data in
calculating your benefits.
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Basic information such as birthdate,
and, or social security number was incorrect.
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Your company merged with another
company, or went out of business, and there is confusion over which
pension benefits you qualify for.
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Assets in your account were improperly
valued.
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Your employer failed to make required
contributions on your behalf.
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Basic mistakes were made in the
mathematical calculations.
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You failed to update your personnel
office with changes (marriage, divorce, death of spouse) that may
affect your benefits.
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Know your pension plan. Obtain and review your
Summary Plan Description (SPD), the rulebook for your pension.
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Review your individual benefit statement and
individual account information. Know what your accrued and vested
benefits are.
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Maintain a pension file. Keep records of where
you've worked, dates you've worked there, your salary and any plan
documents or benefit statements you've received.
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Notify your plan administrator of any changes that
may affect your benefit payments (i.e., marriage, divorce, death of a
spouse).
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Know the person in your company who has information
about your pension plan and can give you plan documents.
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Know how the merger or acquisition of your company
will affect your pension benefit.
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Know your pension rights. Request information on
your pension rights and how to protect your pension. Call 1.866.444.3272 for publications.
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Contact the Department of Labor's Employee Benefits Security Administration
if you have any additional questions
about your rights under the law.
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