Retirees Struggle To Locate Billions In Lost Pensions As Government Looks For Solutions

Via WGBH.org

By Liam Knox And Lucas Smolcic Larson

Deborah Imondi knows pensions. The 66-year-old retiree from Johnston, Rhode Island, managed a large corporate pension fund for 25 years. But when it came time for her to claim her own pension benefits from a bank she worked for five decades ago, Imondi found herself helpless.

The bank, Rhode Island Hospital Trust, went through a series of complicated buyouts and mergers after Imondi left in 1984. The local business was eventually taken over by Bank of America Corporation, which initially told Imondi she did not have a pension with them. Many phone calls later, she said the company admitted the pension may have been turned over to Fidelity Investments — but Fidelity initially denied any record of it.

Read the full article here.