US - Some US$133m in unclaimed pension benefits for over 30,000 people owed money from terminated defined benefit (DB) pension plans is being held by the Pension Benefit Guaranty Corporation (PBGC).
For the 32,000 people still missing pension benefits, the PBGC said individual benefits range from $1 up to $611,028 and average about $4,950.
The states with the most missing pension participants and money to be claimed are said to include: New York ($37.49m); California ($7.38m); New Jersey ($12.05m); Texas ($6.86m); Pennsylvania ($9.56m); Illinois ($8.75m); and Florida ($7.14m).
The PBGC has offered the Pension Search directory as an interactive tool for people who may have lost track of a pension earned during their career, enabling people to search by their last name, company name, or state where the company was headquartered.
PBGC interim director Vince Snowbarger said: "Although the vast majority of workers receive their full pension, sometimes people lose track of benefits earned with former employers, the Pension Search Directory helps workers find retirement money they are entitled to but cannot locate."
In the 12 years since it was set up more than 22,000 people have found $137m in missing pension benefits.
The current list in the Pension Search directory identifies 6,600 companies, in the airline, steel, transportation, machinery, retail trade, apparel and financial services industries that closed pension plans in which some former workers could not be found.
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