OfficeMax Retirees: You May Be Owed Compensation
Photo Credit: Unsplash | Updated: September 26, 2023
Claim Form Deadline: Ongoing
Estimated Payout: Varies
Proof required: Yes
Did you start receiving a pension from OfficeMax in the last six years?
Were you married when your benefits started? If so, you may be receiving pension benefits that are too low and you may have a claim.
OfficeMax may have been using an outdated formula to calculate survivor benefit annuities leaving retirees (and their spouses) with less money then they are entitled to.
If you started collecting pension benefits from OfficeMax in the last 6 years AND were married when your monthly benefits began, please use the links below in order to see if you qualify.
Survivor Benefits for OfficeMax Pensioners' Spouses May Be Too Low
Generally speaking, retirees who get a pension are entitled to a monthly payment for the rest of their life, referred to as an annuity. Former employed retirees can choose to receive their pension benefits as an annuity just for themselves or an individual can choose an annuity with something called a “survivor benefit”.
This "survivor benefit" is a pensions payout that continues with monthly pension payments to a spouse even after the retiree dies. For married retirees, generally speaking the default option is this “survivor benefit.” To convert a normal annuity to a survivor benefit annuity, pension plans use complicated actuarial formulas based on life expectancies and interest rates. If you were married when your benefits started this may indicate that you could be receiving pension benefits that are too low and you may have a valid claim for compensation.
How Do I Qualify for a OfficeMax Pension Benefits Claim?
Many employers in the U.S., such as OfficeMax, may have been using a faulty formula to calculate survivor benefit annuities leaving retirees (as well as their spouses) with less money than they should be receiving from their pensions. If you started collecting pension benefits from any employer in the United States within the last 6 years and you were married at the time that your benefits payments began, please fill out the form, linked below, to see if you qualify.
If you started receiving a pension from OfficeMax in the last six years and you married when your benefits started, use the links below to find out whether you may be eligible for compensation!
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