Lost Pensions

By: Associated Press
By: Associated Press

The government is holding some $75 million in unclaimed pension benefits for thousands of Americans.

The Pension Benefit Guaranty Corporation, which insures private-sector pensions, says its registry currently lists some 26,000 people eligible for benefits averaging more than $3,500.

In most cases, the pension money went to the PBGC when companies went bankrupt, especially in distressed industries such as steel, airlines, transportation and machinery.

Americans who believe they may be eligible for pension money should check for their names on the PBGC Web site.

People can use the Web site to search by their name, the company's name or the state in which the company was headquartered. Some 5,500 company names are on the registry.


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