Who manages Truist's pension plan?
10 replies (most recent on top)
For people saying it’s going away, just know they recently added more employees to be eligible for the pension in the last few months. Seems like an odd thing to do if you’re going to be taking it away soon.
Need to stop using the word “eliminated” regarding pension. Pensions are not “eliminated” (meaning cancelled, discontinued, taken out of existence). They can be frozen (no more contributions by the company), or converted (from defined benefit to defined contribution plan) but they are not just “eliminated”. At worst the accrued value for each participant would be paid out in a lump sum. No need to create anxiety with talk of “eliminated pensions” ….. this company has enough problems.
I'm a retiree and received in the mail yesterday that fidelity is going to be the new "recordkeeping service" for the pension effective 2/1/25. I'm not sure if the Aon will continue to serve as the pension estimator, but it looks like most of the pension functions are headed to fidelity.
How fast do you have to retire when they announce the pension being eliminated
Aon still handles the pension. I left several years ago, however decided not draw
My pension until later. It just so happens I logged on to Aon site today to calculate an estimate, so I can verify for you they do still manage the pension.
Doesn’t matter - will be gone in Q1
Oddly enough, I elected to retire from this train wreck and even I don't know the answer to this question. Aon was always the website I logged onto to see my pension payment...which was fairly accurate +/- $200. When you retire, you have to jump through some hoops and fill out some forms. All of my questions have been handled by truist hr and the payments show up in my non-truist account each month. I detest this company, and it's "leadership" but if you can find the exit door, it is reasonably smooth.
Pretty sure you are asking who administers it - but once again no knowledge of how pension works - there is administrators and then a committee that oversees the investments that has a fiduciary responsibility to the pensioner
Why care it’s going away
I thought it was Mercer
Aon