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Subject: Re: Gino Pension Plan


Author:
Mike Phillips
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Date Posted: 19:05:58 11/09/09 Mon
In reply to: Jamy 's message, "Gino Pension Plan" on 06:59:35 10/26/07 Fri

There was no 401K unless Gino's employees transferred to a Marriott owned division as Gino's was being phased out.
Gino's did have a non contributory pension plan. When the company was sold to Marriott any employees meeting certain criteria (I don't remember what they were) were notified of any vested monies in their name in the pension plan. At one time, the company holding the $$ sent out notices to those qualified, that they had an option to take their $ in a lump sum or, keep the $ in the posession of the insurance company and collect an annuity upon reaching age 65. There were not many people who were eligible when the company was winding down. There were some who received modest amounts because they had a certain number of years of service and met some earnings threshold. As I recall the record keeping was very good and if you or a relative did not receive notice of having $ vested in the program--then there was nothing in the plan in your name.

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Replies:
Subject Author Date
Re: Gino Pension PlanJohn Harford09:22:07 11/11/11 Fri


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