© 2024 Pension Rights Center. This work is licensed under a Creative Commons Attribution-Non Commercial 2.5 Generic License.
Carl Monheit’s former employer reliably mailed his monthly check to him for 17 years. A year and a half ago things changed. The Hackensack, New Jersey, resident, along with thousands of other retired managers, learned he would no longer be part of Verizon’s pension plan. Instead, the telecommunications giant bought them an annuity. While payments would stay the same, future checks would now come from an insurance company.
