Thread regarding Verizon Communications Inc. layoffs

Waiting for cash balance money transfer

Does anyone else have “cash balance” monies to be transferred to a rollover IRA? VZ is taking forever to let go of my money. I had to send them my Divorce and property settlement paperwork to be examed by their lawyers before they do anything. There is Tons of personal info on me, my X, and my child in those documents. Communication has been terrible, all promises made by VZ to update me with the status have not happened. VZ is screwing me one last time as I walkout the door.

Cash Balance monies were from when VZ took managers defined benefit pension and put the money aside making almost 0 interest until they give it back to you 15 years later. They now delay giving it back. Anyone else? Class Action Please Please Please...

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| 971 views | | 5 replies (last February 11, 2019) | Reply
Post ID: @OP+XvnNEXG

5 replies (most recent on top)

Got mine direct deposit on 2/2, no problems.....rolled right into my account....

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Post ID: @4wjv+XvnNEXG

yes, it's the divorce. You can't even do a pension calc online if you're divorced. You have to request a manual and can only do so every 6 months I think.

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Post ID: @1lny+XvnNEXG

Someone I know left the business in 99 (pre VZ) and left their pension money parked with Bell Atlantic. Approximately 3 years ago they requested it as a roll-over into a NYS Pension Plan. It was clown show getting the money - 3 different instances of notarized paperwork having to be sent (resent) to them for one reason or another.

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Post ID: @qho+XvnNEXG

They have to make sure you’re x signed off of the cash otherwise there liable. It should be in your divorce agreement. If not your x will get half of what it was worth at time of divorce.

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Post ID: @dqm+XvnNEXG

I am married. They told me the check would be cut on 2/1 and I received it 2/2. It is probably the divorce papers holding yours up

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Post ID: @ssf+XvnNEXG

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