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Deprecated: Implicit conversion from float 211.6 to int loses precision in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 534 J+Aging+Soc+Policy 2020 ; 32 (4-5): 488-498 Nephropedia Template TP
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Unclaimed Defined Benefit Pensions Can Help COVID-19 Economic Recovery #MMPMID32538320
Tabor AM
J Aging Soc Policy 2020[Jul]; 32 (4-5): 488-498 PMID32538320show ga
The COVID-19 economic crisis makes it vitally important that workers who earned defined benefit pensions receive them at retirement. Unfortunately, billions of dollars that could help cushion the financial shock are sitting unclaimed, because the people who they belong to cannot locate the company responsible for paying them. As defined benefit pension plans have been terminated, merged and moved over the years, large numbers of deferred vested participants have not been notified about their benefits. The widespread and growing practice of insurance company pension buy-outs can be especially problematic for participants without notice. Broader use of electronic disclosures for pensions also threatens to make the situation worse. In the wake of COVID-19, policy makers should take steps to ensure that pension benefits are part of the economic recovery.
J+Aging+Soc+Policy 2020 ; 32 (4-5): 488-498
