Archived Target isn't giving me my pension

[AsAdvertised]

Just a head up, I'm super frustrated and I will try and type this without saying swear words.

I got a letter from Target saying I can't get my $330 from my pension cuz I haven't worked 1000 hours a year or some bullcrap like that.

"A year of vesting service is a calendar year in which you work 1,000 or more hours. Our records show you left target with 1.000 years of vesting service. As a result, you are not vested and not eligible to receive a benefit from this plan"

I needed this money. I really did. I can't believe this 🙁
I needed to get my glasses since my eyes are rejecting contacts this time around.
I've been with Target since 2007. Took a 9 month break and came back in 2010... I've done my time.

Why can't I just get my 300. Why?

 

[AsAdvertised]

I checked MyPayand Benefts but I don't know what to look for. I was told I was "sol" with getting that money ever. What I don't get is it said I left after 1 year? I was there for 3 years this time and then 2 BEFORE the 9 month break

 

[Hardlinesmaster]

Wait, your benefits for vision should cover that. Has it been over 30 days since you left?
http://www.thebreakroom.org/showthread.php/4113-what-happens-to-401k-and-pension-after-i-leave

 

[AsAdvertised]

Never had vision benefits. I haven't had any health insurance sine 2008 with them.
But yes, it's been a month away from them

 

[commiecorvus]

I'm so sorry.
Fight back, you know they will always turn you down the first time.
Just know that they are like the house in Vegas, the rules are always in their favor.

 

[AsAdvertised]

The thing I don't understand is they said I left after one year when I was there for 3... im so confused, I have to try and call them on my lunch tomorrow

 

[redeye58]

Be the biggest pest you can be.
You've got nothing to lose & they'll end up looking like tightwads.
Oh, wait....they ARE tightwads!

 

[StateofTarget]

The thing I don't understand is they said I left after one year when I was there for 3... im so confused, I have to try and call them on my lunch tomorrow

I am amazed that no one has given you the correct information so far.

Target discontinued the pension in 2008. They sent out a letter to everyone who was in the pension back then, and I distinctly remember getting the letter telling me about it.

Back in the day, *every* TM who worked 32+ hours average a week was automatically signed up for the pension. However, just because you were signed up for the pension does not mean that actually got the pension.

Once you were signed up, you had to work for Target a certain number of years to be vested in the pension. In other words, before Target actually said "ok, this money is yours now"

Here is what probably happened to you - you were signed up for the pension, but the pension got discontinued before you were vested in it.

So, you might have worked the required number of years to be vested, but the pension was discontinued before you actually reached the required years of service. If you would have reached the required years of service before it was discontinued, then yes, you would have gotten to keep it. You didn't.

"I've been with Target since 2007. Took a 9 month break and came back in 2010... I've done my time. "

Dude, this is exactly the problem. The pension was discontinued in 2008. The required time to get it was at least 3 years. You only did 1 year before the pension was discontinued. Therefore, you are not eligible for it.

Don't act like Target screwed you. The pension is a benefit just like the health plan. You have to meet the requirements to get it. When you were rehired, the benefit was no longer offered. You never even did the required number of years to get it when the benefit was offered.

What you did was basically like me getting rehired this year, walking in the HR office, and saying that Target screwed me because when I worked for the company before I had a PPO health insurance plan and it's gone now.

Oh, and for those of you who weren't around back then. The reason target killed off the pension? They sent out a survey to TMs and most of the TMs voted on the survey that the pension wasn't important to them. Idiots. Basically voted away free money.

 

[Hardlinesmaster]

Asadv, you had asked this question last year. There should been a check sent to you., already. There was no response saying if you had followed up with tmsc.
Here is copy of your question:

Hrm. My husband got the pension check too about 2 months after he was termed... I quit in Aug 2009 (and came back April 2010) and I never got mine. 😵
Odd.
I didn't even know they existed until my husband got his... and then I was like, wheres mine!? lol

You only get the payout automatically if your balance is under 5k, if I recall correctly. Anything over that, they continue to manage it until/unless you tell them to pay/roll it into something else.

 

[Barcode]

The thing I don't understand is they said I left after one year when I was there for 3... im so confused, I have to try and call them on my lunch tomorrow

I am amazed that no one has given you the correct information so far.

Target discontinued the pension in 2008. They sent out a letter to everyone who was in the pension back then, and I distinctly remember getting the letter telling me about it.

Back in the day, *every* TM who worked 32+ hours average a week was automatically signed up for the pension. However, just because you were signed up for the pension does not mean that actually got the pension.

Once you were signed up, you had to work for Target a certain number of years to be vested in the pension. In other words, before Target actually said "ok, this money is yours now"

Here is what probably happened to you - you were signed up for the pension, but the pension got discontinued before you were vested in it.

So, you might have worked the required number of years to be vested, but the pension was discontinued before you actually reached the required years of service. If you would have reached the required years of service before it was discontinued, then yes, you would have gotten to keep it. You didn't.

"I've been with Target since 2007. Took a 9 month break and came back in 2010... I've done my time. "

Dude, this is exactly the problem. The pension was discontinued in 2008. The required time to get it was at least 3 years. You only did 1 year before the pension was discontinued. Therefore, you are not eligible for it.

Don't act like Target screwed you. The pension is a benefit just like the health plan. You have to meet the requirements to get it. When you were rehired, the benefit was no longer offered. You never even did the required number of years to get it when the benefit was offered.

What you did was basically like me getting rehired this year, walking in the HR office, and saying that Target screwed me because when I worked for the company before I had a PPO health insurance plan and it's gone now.

Oh, and for those of you who weren't around back then. The reason target killed off the pension? They sent out a survey to TMs and most of the TMs voted on the survey that the pension wasn't important to them. Idiots. Basically voted away free money.

I kind of figured it was something like this, I started in 09 and never heard of a pension.

I'd still say asadv got screwed though by target. Well actually all of us. When has spot ever done anything good for us? Seems like all they do is make life harder for us and cut our pay and benefits.

Anyone who sits here and defends spot is nothing but a corporate cronie.

 

[Greenshirt]

eh, don't feel too bad. I got screwed out of the pension to, didn't put in enough time to become vested. As a FYI to you store TM's, Target does still have the pension plan, but store TM's are the only ones that do not qualify for it.

 

[StateofTarget]

The thing I don't understand is they said I left after one year when I was there for 3... im so confused, I have to try and call them on my lunch tomorrow

I am amazed that no one has given you the correct information so far.

Target discontinued the pension in 2008. They sent out a letter to everyone who was in the pension back then, and I distinctly remember getting the letter telling me about it.

Back in the day, *every* TM who worked 32+ hours average a week was automatically signed up for the pension. However, just because you were signed up for the pension does not mean that actually got the pension.

Once you were signed up, you had to work for Target a certain number of years to be vested in the pension. In other words, before Target actually said "ok, this money is yours now"

Here is what probably happened to you - you were signed up for the pension, but the pension got discontinued before you were vested in it.

So, you might have worked the required number of years to be vested, but the pension was discontinued before you actually reached the required years of service. If you would have reached the required years of service before it was discontinued, then yes, you would have gotten to keep it. You didn't.

"I've been with Target since 2007. Took a 9 month break and came back in 2010... I've done my time. "

Dude, this is exactly the problem. The pension was discontinued in 2008. The required time to get it was at least 3 years. You only did 1 year before the pension was discontinued. Therefore, you are not eligible for it.

Don't act like Target screwed you. The pension is a benefit just like the health plan. You have to meet the requirements to get it. When you were rehired, the benefit was no longer offered. You never even did the required number of years to get it when the benefit was offered.

What you did was basically like me getting rehired this year, walking in the HR office, and saying that Target screwed me because when I worked for the company before I had a PPO health insurance plan and it's gone now.

Oh, and for those of you who weren't around back then. The reason target killed off the pension? They sent out a survey to TMs and most of the TMs voted on the survey that the pension wasn't important to them. Idiots. Basically voted away free money.

I kind of figured it was something like this, I started in 09 and never heard of a pension.

I'd still say asadv got screwed though by target. Well actually all of us. When has spot ever done anything good for us? Seems like all they do is make life harder for us and cut our pay and benefits.

Anyone who sits here and defends spot is nothing but a corporate cronie.

The fact is, TMs screwed themselves on this one. I still remember when the company sent out a massive survey asking TMs what benefits they wanted, and TM's at my store literally *bragged* about how they voted that they didn't care about the pension because they were "anti-union". Back then, the company told everyone that the pension was a union-like benefit. (which is true, union jobs almost always have pension plans)

The majority of TMs actually voted against having a pension benefit, so Target killed it off. I think the company is evil as much as anyone, but in this case stupid TMs actually did it to themselves.

 

[StateofTarget]

eh, don't feel too bad. I got screwed out of the pension to, didn't put in enough time to become vested. As a FYI to you store TM's, Target does still have the pension plan, but store TM's are the only ones that do not qualify for it.

You need to be a little more clear on this - the fact is no one at any level who works in a store has the pension anymore. (the only exception are long time TMs/TLs/ETLs who got vested before Target killed it off)

Yes, people at HQ have it. People at HQ also work 40 hours a week, monday-friday, 8-5PM and have better health plans. Corporate versus the stores is an entire different world.

 

[commiecorvus]

The fact is, TMs screwed themselves on this one. I still remember when the company sent out a massive survey asking TMs what benefits they wanted, and TM's at my store literally *bragged* about how they voted that they didn't care about the pension because they were "anti-union". Back then, the company told everyone that the pension was a union-like benefit. (which is true, union jobs almost always have pension plans)

The majority of TMs actually voted against having a pension benefit, so Target killed it off. I think the company is evil as much as anyone, but in this case stupid TMs actually did it to themselves.

While I certainly agree that the TM's who voted against the pensions shot themselves in the (foot seems too low) kneecaps, don't you think that Spot was pretty crafty about the wording of the poll and how they presented it?
I'm sure they had a nice little whisper/information campaign going as well.
Pensions are expensive and getting rid of the program saved them a ton of money.
For that matter I'm sure the people who voted in that poll probably put health insurance as a high priority and sure didn't expect to have it turned into the dreck it is now.

 

[greydot]

Alright - so I started in Fall of 2008. My pension still comes up under my pay and benefits. And it is still supposedly accruing money. So, because it was discontinued in 2008 I am not vested into it? Why does it still come up? And keep growing? Will I not receive this should I leave the company? This sounds crazy to me if it is not possible not matter what. I would think that it would have to be the total amount of years I work for the company, and not just the amount before the discontinuation of the plan?

 

[Hardlinesmaster]

spot does not offer it to new tm's. you are grandfather in. take the money, you are eligable for it.

 

[peonTM]

Alright - so I started in Fall of 2008. My pension still comes up under my pay and benefits. And it is still supposedly accruing money. So, because it was discontinued in 2008 I am not vested into it? Why does it still come up? And keep growing? Will I not receive this should I leave the company? This sounds crazy to me if it is not possible not matter what. I would think that it would have to be the total amount of years I work for the company, and not just the amount before the discontinuation of the plan?

I also started in Fall of 2008, & also a pension comes up under pay and benefits. When I drill down into it, it says I'm "You're 100% vested in the plan."
In Pay & Benefits, click on "My Benefits & Retirement", then down under "At a Glance Pension" click "more.
When the Retirement Account Summary comes up, click on Pension, then near the amount, click on Key Dates. Right under Dates you should know, it shows if your vested.

 

[Softlines Owns My Soul]

Alright - so I started in Fall of 2008. My pension still comes up under my pay and benefits. And it is still supposedly accruing money. So, because it was discontinued in 2008 I am not vested into it? Why does it still come up? And keep growing? Will I not receive this should I leave the company? This sounds crazy to me if it is not possible not matter what. I would think that it would have to be the total amount of years I work for the company, and not just the amount before the discontinuation of the plan?

I also started in Fall of 2008, & also a pension comes up under pay and benefits. When I drill down into it, it says I'm "You're 100% vested in the plan."
In Pay & Benefits, click on "My Benefits & Retirement", then down under "At a Glance Pension" click "more.
When the Retirement Account Summary comes up, click on Pension, then near the amount, click on Key Dates. Right under Dates you should know, it shows if your vested.

That's how pensions work...once you become "vested" it's yours, and they can't take it away from you. For those that didn't get vested before they ended it, it's unfortunate, but they didn't take money that was yours, they told you the rules, and unfortunately they ended the program before you were eligible. It was never money you put in, it was free money you unfortunately never got to qualify for.

 

[AsAdvertised]

I don't have enough time to read the posts other than State of Targets original one.

That doesn't make sense cuz my husband and my best friend BOTH got theirs one month after leaving. And they all started the same time as me. My husband started two months before I did. My friend took a year break in 2010 and she came back after I did, and she got fired, and they still cashed her's out but with a percentage removed.

I even asked my HR when I left and she said "Yeah, you should get a form in the mail after a short while and just fill that out and the money can be deposited into your bank account or you can get a check"

As for Hardlines, I called originally when that post was made and they told me I can't get my pension until after I am no longer with target.

 

[AsAdvertised]

Everyone I know (that was there for sometime) got a paper sent to them so they could either cash it out or roll it over and they were able to take it out.

 

[AsAdvertised]

Alright - so I started in Fall of 2008. My pension still comes up under my pay and benefits. And it is still supposedly accruing money. So, because it was discontinued in 2008 I am not vested into it? Why does it still come up? And keep growing? Will I not receive this should I leave the company? This sounds crazy to me if it is not possible not matter what. I would think that it would have to be the total amount of years I work for the company, and not just the amount before the discontinuation of the plan?

This.

Mine was growing too over time.

 

[Greenshirt]

SOT, DC's still have the pension. and from what I've been told (yep, hearsay) District office tm's also have the pension.


Then again, I guess that would kinda make sense from corporates perspective. Store TM's are viewed as more easily replaceable, and make up the majority of the employee base. so if the normal time in service is not enough to justify vesting in the pension plan, why fund that portion.

 

[greydot]

mine says 100% vested on targetpayandbenefits

 

[buliSBI]

If you were a TM back in the day before 2008-2009, and deemed full-time, you were automatically put into the pension program. At the 2008, any new TMs were not brought into the program. But Target still kept it up for existing TMs.

I had my pension plan going until 2009. Then when I left they automatically rolled it over into a KeyBank IRA.

 

[Hardlinesmaster]

Is it still there?