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Ask Legalease Your Own Question
Legalease, Lawyer
Category: Employment Law
Satisfied Customers: 16208
Experience:  13 years experience in employment law, unions, contracts, workers comp law
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Do you get to keep you pension and 401k/4013b if you are

Customer Question

Do you get to keep you pension and 401k/4013b if you are fired from a job
Submitted: 6 months ago.
Category: Employment Law
Expert:  Legalease replied 6 months ago.
Hello there ---THe answer is yes and no. Your 401k or 403b is an account that you contributed to and you should be able to take that money to at least the extent that you contributed your own money into it. If there was an employer match of any amount during the time you contributed to your fund then the employer has the right to keep the match amount. REgarding any pension fund that you earn through years of service and you do not contribute to, unless the company agrees to let you have that pension that it is generally cancelled upon termination unless you have worked the 20 years or more for the company that gets you to a date where the pension is generally paid out. -MARY
Customer: replied 6 months ago.
I have been there 19 years
Expert:  Legalease replied 6 months ago.
Hello there ---It depends upon the time your employer requires you to be there before a pension can be paid, as I said above. It may be 20 years. 25 years, etc - you have to check with them. Even if you are close to the pension date if they have valid reason for termination then even if you seek legal help you will not get anywhere forcing them to pay you out that pension. However, if you are close to your pension and you feel that the reason for termination is bogus and done only to deprive you of the pension then you should speak with a local labor and employment attorney who can assist with a lawsuit to get that pension for you. -I hope that helps. Please let me know if you have any further questions. If not, can you please press a positive rating above so I will be paid for my time. I am paid nothing unless you press a positive rating above. Doing so will not cost you any additional money -- it is simply the trigger to just answer to pay me for my time. THANK YOU VERY MUCH-MARY

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