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Is Thrift Savings Plan protected under bankruptcy?
No..
If you file chapter 7 bankruptcy what happens with your state pension plan?
Uneffected.
What are pension plans?
Pension plans are a type of retirement plan in which the employee and employer make contributions. These contributions are invested and to be received upon retirement. In most all cases pension plans are tax exempt. The two types of pension plans are defined benefit plans and defined contribution plans. A defined benefit plan guarantees an amount upon retirement no matter how the investment performed. A defined contribution plan is not a guaranteed amount and heavily depends on the investment performance.
Can you collect your pension if the company you worked for filed for bankruptcy.?
If it is "true", "qualified" pension, not just a casual or business agreement your calling one: Yes, your pension is entirely protected. Even if the company has to go out of business or eliminate the plan prospectively, (and basically depending on certain restructurings). The Pension Guarantee Benefit Corp (PBGC), essentially a government entity, steps in and administers it.
Who is the plan administrator of Banc One Corporation Pension Plans?
chase bank
Who is handling the former Smurfit-Stone pension plan and how do you contact?
The former Smurfit-Stone pension plan is now managed by the Pension Benefit Guaranty Corporation (PBGC) if the company entered bankruptcy. You can contact PBGC through their website or by phone to inquire about the plan and benefits.
Are annuities protected when filing bankruptcy?
Only if they are in a qualified retirement plan, like an IRA.
How can a consultant help me manage my company pension plan for employees?
There is a growing need for corporate pension plan management consultants as the financial crisis wiped out a lot of company profits and pension plans. This is why your company needs the advice of a consultant.
Where can one find information about pension plans in Canada?
Information about pension plans offered in Canada can be found at the Service Canada website. They have a complete section for those seeking information about the CPP / Canadian Pension Plan as well as retirement benefits and pensions.
Which pension plan is the best plan?
The best pension plan depends on individual circumstances such as age, financial goals, and risk tolerance. It's recommended to speak with a financial advisor to determine the best pension plan for your specific needs. Some popular options include 401(k) plans, IRAs, and employer-sponsored pension plans.
What are the advantages and disadvantages of pension plans?
Advantages of pension plans include providing a stable income in retirement, employer contributions, and potential tax benefits. Disadvantages can include limited control over investments, changes in pension fund performance, and potential risk if the pension plan is not fully funded.
What are some common types of retirement accounts?
Common types of retirement plans available include the 401k, the Defined Benefit Plan, the Profit Sharing Plan, and many others. More options and more information about these plans can be found on retirementplans.org
