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  1. #1
    Join Date
    Aug 2009
    Location
    USA- Tennessee
    Posts
    7

    Question K-Mart Bankruptcy and Pension Benefits

    My question involves labor and employment law for the state of: Tennessee

    Hello guys and gals! It's been a while since posting on the forums. The last thread of mine was in regards to the passing om my dad. Now, I'm moving onto some questions in regards to my mother.

    My mother has worked at K-Mart Corporation for over 35 years. She's currently still working at nearly the age of 70. She is drawing her pension but still working part-time. She started drawing her pension in 2006 with over 30 years of service.

    Her pension is what I call a joke! My mother makes pretty good money at K-Mart after all these years but her retirement money is an absolute joke. When she called about here retirement in 2005 they told here what she could draw. She liked to fell out of her chair with the number she was told.

    She was to get a whopping $288.00/month for her pension. Yeah, that's right! Only $288 a month for over 30 years of service to the company. Well, my mother decided to take the pension and continue working part-time.

    She didn't think she could make a comfortable living with her pension and SSI. Well she continues to work today but I have been looking for answers about this fishy amount of retirement money. I even made her an appointment with a local lawyer back in 2007 but my mother was stubborn and wouldn't go.

    She had called K-Mart about the matter shortly after drawing her pension and she was told that because of the bankruptcy filing by the company all retirees pension was frozen. The bankruptcy for K-Mart happened back in the early 2000's I believe. My mother just accepted that was the reason but I certainly didn't.

    Now, my mother is considering full retirement but I want some opinions/answers about the process and handling of this matter by K-Mart. I don't know the bankruptcy laws in Tennessee but I feel that the company has taken advantage of my mother. She was making around $2000/month(working) right before she accepted her pension.

    To get only $288/month after all her time and service there seems really wrong. Anybody care to elaborate on what may have been going on with this situation? I can make her another appointment but I wanted to get some expert opinions from here first. I mean if K-Mart has done something illegal and she's owed money that's a lot of backpay now for well over 5 years since filing for her pension. Thanks!

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: K-Mart Bankruptcy and Pension Benefits

    K-Mart went bankrupt. It discharged many of its liabilities. I have no way to verify if the amount of your mother's pension is accurate, but it wouldn't surprise me if it is.

  3. #3
    Join Date
    Aug 2009
    Location
    USA- Tennessee
    Posts
    7

    Default Re: K-Mart Bankruptcy and Pension Benefits

    Quote Quoting Mr. Knowitall
    View Post
    K-Mart went bankrupt. It discharged many of its liabilities. I have no way to verify if the amount of your mother's pension is accurate, but it wouldn't surprise me if it is.
    Yeah! I've been in discussion with the other site about this matter. I was given a phone number for my mother to call and request proof in writing about her pension. She got a pension statement back when she first filed for it but my mother doesn't know where that paperwork is right now.

    I was told by a member from the other site this paperwork should had her figures on it for the pension plan. The plan on how K-mart got the pension numbers for her montly amount. It still doesn't seem right that after 30 years at the time of filing that she would only receive $288/month. I mean that's pay you would expect for some low level type company or some non-chain business.

    My mother does know that past store managers and assistant managers are getting their full pension benefits. Now, I don't know the policy in regards to the bankruptcy and how it affects store managers.

    However, why would they qualify as special treatment and get full benefits when other full-time employees haven't? It doesn't really add up. I'm trying to make sure my mother hasn't been done wrong by the company she's worked so hard for for over 35 years.

    She's just about fed up with them anyhow. She's going to officially retire this year but we want to make sure she's not owed money that's been hidden from here. Thanks!

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