Get Money Maker

For experienced workers and retirees, websites like PBGC.gov are priceless, particularly during a recession. On how to find lost, missing or otherwise unclaimed money, just leave it to the “The Early Show” to clue us in. The show recently revealed to viewers that there’s about $33 billion in missing money out there, and sites like Unclaimed.org and MissingMoney.com are dedicated in helping people locate any that may belong to them. Those sites focus on things like unclaimed money from bank accounts, stock dividends, annuities, overpayments, insurance refunds and the like. PGBC.gov, however, is slightly different. With the help of the Public Benefit Guaranty Corporation, those with a long work history can collect any unclaimed pension money that’s floating around.

Article Source: PBGC.gov is protecting pensions across the United States

PBGC.gov works with a 1974 law

Workers who visit PBBC.gov will find that the website works in conjunction with the Employee Retirement Income Security Act of 1974. Pension funds are protected by this federal law, funds of “over 44 million American workers and retirees in more than 29,000 private single-employer and multi-employer defined benefit pension plans,” says the site. Funding for the Public Benefit Guaranty Corporation comes from insurances premiums, and not from debt settlement relief or tax revenue. These premiums are set by Congress and paid for by the sponsors of investment incomes, benefit plans and other assets and recoveries from former pension sponsors.

The PBGC guarantees most pensions

Even many pensions that went bankrupt or closed my fall under the protection of the PBGC, says PBGC.gov. For that reason, American workers who have collected pensions over a long work history that included multiple career stops should closely pay heed if they are uncertain whether they are due pension monies. A move, a change of job or anything else that could have made it difficult for old employers to contact you could mean there’s missing money waiting. Moreover, for the experienced workers and retirees whose former companies merged or went out of business, PBGC.gov can come in real handy.

Exercise caution with your private data

Keep in mind that PBGC representative will not contact retirees or long-time workers independently. Each person interested in finding out whether PBGC.gov has unclaimed money for them should contact the organization directly, as some scams have been noted in the media. Thus, careful handling of things like a personal address or social security number is advisable. Also, be aware that there are unscrupulous scam artists posting as either employees of PBGC.gov or agents of retirees’ former places of employment. If you are interested in finding lost or missing money, visit PBGC.gov directly.

Tags: pbgc.gov, unclaimed money, Public Benefit Guaranty Corporation

Tags: debt settlement relief, pbgc.gov, Public Benefit Guaranty Corporation, unclaimed money