Judge Mental Posted December 21, 2020 Posted December 21, 2020 Hello, I am a retired American living in the Philippines since 2003. I retired from the Federal Reserve Bank which is not government but private enterprise. I need some advice on a very difficult problem. Due to Covid-19 the Philippines government has stopped all deliveries of US mail to customers indefinitely. My pension check is sent to me through the mail and I have not received one since April 2020. Direct deposit is not possible since US banks do not allow direct deposits to foreign banks. Of course, I have been in contact with the FRB's Office Of Employee Benefits for some time now but the last notice I received from them was negative about any further help changing the way the checks are sent out. I had suggested that the checks be sent out by private courier instead of the mail so that it would come directly to me. I even offered to pay for the service myself but since no provision for that is included in the directive manuals of the FRB, I was told nothing could be done. So I am without my retirement benefits and apparently will be for the foreseeable future. I am just wondering if anyone has any ideas that could help me. I don't know if any rules or regulations exist that govern the sending out of pension checks. In this case I doubt that anyone could have anticipated this problem due to Covid-19. Does ERISA has anything to say about this problem? Thanks.
Bill Presson Posted December 21, 2020 Posted December 21, 2020 Open an account at a US Bank. Have the direct deposit go there. Then arrange a wire transfer between your banks. This is not an ERISA or retirement plan issue. hr for me and Luke Bailey 2 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
ESOP Guy Posted December 22, 2020 Posted December 22, 2020 I have made wire (not ACHs or direct deposits) payments to countries outside of the US for a few participants of my clients. Bill's idea might be simplest.
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