For many years, one of the most important goals of Raytheon’s pension department has been to make sure that every former Raytheon employee receives the amount specified for that person from the pension plans Raytheon sponsors.
Another of those goals has been that each pension plan member understands that his or her pension is correct. This article addresses what you should do if you have reason to believe your pension is different from the amount promised in your Raytheon-sponsored pension plan. Any pension plan is a set of promises to both the plan members and to the company sponsoring (and paying for) the plan. The promises to you consist of a definition of the pension the plan will pay you. The promise to the plan sponsor is the explicit understanding that plan’s definition is complete – and that the company is not required to fund any additional pension payments from that plan.
If you do not believe you are receiving the correct pension from the pension plans that Raytheon sponsors, you should first formulate (as much as possible) your reason for thinking that pension should be different. Then, please contact the Raytheon Benefit Center (the RBC) at 800-358-1231 to state your claim. In order to review your pension, the RBC will need to be
able to identify your record, so they may ask for the following:
- Your name, and, if it was different, your name when you last worked for Raytheon.
- Your birth date.
- Your home address when you last worked for Raytheon.
- The dates when you worked for Raytheon (as closely as you can recall them), and the place or places where you worked for Raytheon.
- The type of work you did for Raytheon, and whether you were paid on an hourly (in which case you may have joined a union during part of your Raytheon employment) or salaried basis. Different unions negotiate for different pension plan provisions, so if you were a union member, the RBC will need to know which union it was.
- Your clock number (payroll number) as a Raytheon employee – there may be more than one of them. If you don’t recall your clock number, just say so.
- Your Social Security Number.
- Additional information, as needed.