Question

I am a former Waldenbooks employee and have a pension through KMart. I have not touched the pension at all. I just received a tax document saying that I received a distribution. What the heck is this? Did someone steal my identity and cash out my pension?

Answers

11 answers

  1. I worked for Kmart headquarters for 19 1/2 years, was laid off in 2001, then in 2012 was offered the pension buyout. I deferred my buyout in order to receive a monthly pension payout. I went online to see what my pension would be at age 55, but kept getting the error of "your account requires special handling". Tried many, many times to get someone on the phone, but was always unsuccessful. I finally contacted the US Department of Labor @ 1-866-444-3272 and after they contacted Sears corporate, was able to get the info online that I was looking for. My suggestion to you is... Sears/Kmart is legally obligated to the US Dept of Labor to supply them with pension reports, which if you contact them, you can get a copy of the monetary value of all pension accounts they hold.

  2. FmrWaldenEmployee,
    Welcome to the club! I too am a former Waldenbooks employee with a pension and got my entire 401K stolen by someone! When I tried to get help from KMart I was told to get a lawyer. State's attorneys wouldn't help either; each said the crime had happened in the others district! Wondering who has my pension now or if it too has disappeared. How about a class action lawsuit?

    1. In response to NALH

      Hi NALH,

      We appreciate you bringing this issue to our attention. I have reached out for someone to contact you on this matter.

      Thank you and please keep us posted!

    2. In response to NALH

      I finally quit after 32 yrs and I'm trying to see if I can get a lump payout and roll it over to a IRA ? For my pension ,not 401k savings . I have called all the #'s and just get the automated system ! Do I have to wait until ing sends me papers or what ? Please someone. Help ! I was told that I would only receive $236 a month for 32 years of service! ???? I was vested when they froze the pensions in 1996

    3. In response to NALH

      I worked for Kmart headquarters for 19 1/2 years, was laid off in 2001, then in 2012 was offered the pension buyout. I deferred my buyout in order to receive a monthly pension payout. I went online to see what my pension would be at age 55, but kept getting the error of "your account requires special handling". Tried many, many times to get someone on the phone, but was always unsuccessful. I finally contacted the US Department of Labor @ 1-866-444-3272 and after they contacted Sears corporate, was able to get the info online that I was looking for. My suggestion to you is... Sears/Kmart is legally obligated to the US Dept of Labor to supply them with pension reports, which if you contact them, you can get a copy of the monetary value of all pension accounts they hold. You should not have to contact laywer, contact the US dept of Labor at the number above.

  3. Waldenbooks and Kmart are both great stores (or were). I still have my BordersRewards card that I got from Walden's in 2007.

    1. In response to PrincessAM

      So glad you think so. But trying to contact them and talk to a human, leaves allot to be desired. I finally had to contact the US Dept. of Labor on order to get my issues resolved.

  4. Hi, Fmr_Walden_Employee. For information on your pension you can call the Financial Benefits Service Center at 1-888-875-0498.

    Hope this helps!

    1. In response to laurelS

      Thank you!

    2. In response to laurelS

      Fmr_Walden_Emplyee, did you have any luck with the phone number provided?

    3. In response to laurelS

      FYI... You will not get anywhere contacting the number that was given to you, as you will not be able to speak to a person. I tried that number for 6 months and still nothing. I finally had to contact the US Dept. Of Labor @ 1-866-444-3272 and then it only took 4-5 days for my issue to be resolved. My contact was Deborah Layne. I'm sure you will have better luck calling them.

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