I am in the process of cleaning up my files. I have been saving too many files that no longer need to be saved.
I came across a 2003 letter I had received from the Lewisville ISD in Texas. I substitute taught for one day for the Lewisville ISD in 2002, while I was waiting for my house to sell.
The Lewisville ISD withheld a whopping $14.60 from that day’s pay. I was told it was placed in a 3121 Premier Plan administered by MidAmerica Administrative & Retirement Solutions. The letter further stated that the money could be disbursed at the age of 70 1/2.
Shoot, I can have a fairly nice meal on $14.60, so I decided to contact MidAmerica.
Upon calling MidAmerica, I was told that as of 2006, they no longer administered that plan and it had been turned over to JEM Resource Partners.
I called JEM Resource Partners and sure enough they did have my account on record and it now contained a little over $11. Then the person on the phone said he could send me the form to close out the account, but since it contained less than $15, they would make no distribution.
I am glad I was able to learn this without sending mail at close to $1 a letter.
I just wrote an email rant to the Lewisville ISD and thought I would cleanse my mind, but making one last rant here.
The fund lost 25% in 12 years and I only lost $14.60. I guess I should feel lucky.
As I told the Lewisville ISD, my thought on the practice of only paying out funds that have over $15 is this. Whether you are stealing a little or stealing a lot, it is still stealing and should be considered a criminal offense.
There. I feel better. I may still drop an email to the Texas Representative that represents Lewisville.