I retired from Swedish Match North America, Richmond, VA. I retired at age 59 and SMNA managed the retirement fund until about 6 months before I turned 62 and was eligible for Social Security. Northern Trust took over the management of retirement account. When I turned 62, Northern Trust continued to pay me the bridge money that made the difference for social security for 21 or 22 months . That payment was direct deposit and I frankly did not realize it was being paid, Northern Trust contacted me after the 20 odd months and told me I had to repay the amount (over $21,000) to continue to receive my meager $385 or so retirement. I offered to return to work until the amount was repaid.
Northern Trust stopped all payments saying it was permanent. I feel that Northern Trust mismanaged my account and my retirement payments should be restored, and that they should possibly be fined for this mismanagement.< Back