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Overpayment

What Happens When There’s a Mistake in Your 401(k)

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Are you keeping a close eye on your 401(k) and other retirement plans? You should, because employers and plan managers make mistakes—and that can lead to big headaches and out-of-pocket costs for you.

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This is what we do: help people

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My colleague Kyle often brings to my attention news articles that might merit a response from us. Sometimes the article contains a factual error. Sometimes we disagree with a statement in the article and write an opposing view in a letter to the editor. Sometimes we have additional information to add. 

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Glimmers of hope for victims of unfair pension takebacks

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In a recent article, “Can They Grab Your Pension?”, AARP Bulletin highlights the problem of recoupment – when a pension plan overpays a retiree and then demands that the retiree pay back the ove

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Pension Fund Demands Overpayments Back, With Interest

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In growing numbers, retirees are getting hit with shocking news: Through no fault of their own, pension fund mistakes resulted in overpayments they must pay back with interest. [VIDEO]

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Happy Older Americans Month!

Blog entry

The start of May marks the beginning of Older Americans Month, a celebration of the contributions older Americans make to society. Sponsored by the U.S.

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McLaren Bay Region pension error affects hundreds of retirees

News Item

McLaren Bay Region is working to fix an error that affected pension benefits for dozens of employees.

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Persistence pays off in finding a lost pension

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With his 65th birthday approaching, Richard Zimmerer started making phone calls about a pension from a job he held until his mid-40s.

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Audit Finds Errors in Calculating Pensions in Bankruptcies

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The federal agency that takes over failing pension plans in corporate bankruptcies has made errors in calculating benefits, according to an audit released Wednesday, raising the possibility that some retirees have been getting too much or too little.

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10 Things Pension Plans Won't Tell You

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Yes, they still exist. And some of them toy with taxpayer money.

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Unfair Pension Takebacks: What Can Be Done to Protect Retirees

Publication

Recoupment occurs when a pension plan administrator erroneously overpays pension benefits to retirees. Often these overpayments are made for many years before anyone realizes that a mistake has been made. When a plan finally realizes it has made a mistake, it corrects future payments and recoups the overpaid amounts either by reducing future payments or demanding a lump sum.

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