Alaska Division Cautions Retirees about Pension Advance Scams is a warning from the Alaska Division of Retirement and Benefits to retirees about fraudulent pension advance companies. These companies, which are usually based out of state, promise retirees quick access to a lump sum of their pension benefits in exchange for a fee or a portion of the retirement benefit. The Alaska Division of Retirement and Benefits advises retirees that these pension advance companies are not affiliated with the state and the retirees should be wary of any offers made by these companies. There are two main types of pension advance scams: 1) the company charges an upfront fee for the advance when the company has no legal right to the money and the advance is not actually provided; and 2) the company provides the advance but then deducts a large portion of the pension benefit to repay the advance. Retirees should not provide any personal information to these companies and should contact the Alaska Division of Retirement and Benefits with any questions or concerns.
Alaska Division Cautions Retirees about Pension Advance Scams
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Division Cautions Retirees about Pension Advance Scams
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