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Early withdrawal of benifits due to hardship


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Guest DWest
Posted

Can anyone give me information/advice on whether retirement benifits can be withdrawn early due to medical hardship. I am 48 and have been medically disabled for 10 years. I am currently receiving SSI and long term disability, since workers comp. benifits ran out. Thanks in advance-DWest

Posted

Generally, this is dependent on the plan provisions. It is fairly common to have such provisions for disability, whether the plan is a defined benefit type or a defined contribution type. However, it is not required by any federal law.

I suggest you check the summary plan description for the specific plan provisions.

If you have more specific questions, just post.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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