New York State AG
@NewyorkstateAG Support – Assisting eligible
@DoorDash workers/users with $17M settlement claims
BANKING INVESTIGATIONS
AXJASKS is it true Banks in New York are being investigated for failing to ensure former employees receive their annual pension checks?
Although private bank employee pensions, such as those from institutions like JPMorgan Chase, are governed by federal laws (primarily ERISA) and administered by the banks themselves or their plan administrators. Issues with individual pension claims (e.g., denied survivor benefits due to missing beneficiary paperwork) are typically handled through private disputes, plan appeals, or federal oversight by the Department of Labor, not state-level investigations into systemic non-payment, are not always enough.
Searches of official sources, including the NY AG’s website and recent news, are not yet active nor announced investigations into New York banks regarding former employee pensions. Past banking-related actions by the NY AG have focused on areas like consumer fraud, Zelle scams, or debt collection practices ( including foreclosures and evictions ), but nothing related to employee retirement benefits yet.
There are many individual disputes reported (e.g., a long-running case involving a Chase legacy pension denied to a widow over paperwork issues), but these are not part of any broader probe. Public sector pension fraud cases (e.g., theft of benefits after a retiree’s death) are investigated by the State Comptroller, not involving private banks.
For any personal pension concerns with a former employer like Chase, contact the bank’s HR or benefits portal (e.g., MyRewards at JPMorgan Chase) directly.
JPMorgan Chase maintains a retirement plan for eligible current and former employees, including legacy plans from mergers (e.g., Chase Manhattan Bank, Bank One). Former employees can access pension information through official channels like MyRewards.jpmorganchase.com or by contacting HR at 1-844-ASK-JPMC. There have been past disputes, such as lawsuits over “wear-away” effects in plan conversions (where benefits were effectively frozen temporarily) and individual cases of denied survivor benefits due to missing paperwork pre-1984 laws.