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INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 49902
Experience:  Licensed attorney helping individuals and businesses
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I am 34 years old and am withdrawling my entire Pension in

Customer Question

I am 34 years old and am withdrawling my entire Pension in a Cash Lump Sum from my former employer, whom I was let go from in May 2008. I'm not sure of 2 things - one, this is referred to as "United Technologies Corporation Employee Retirement Plan", my understanding is I can receive this money now, even though I am far away from retirement - Is this correct? My second question is, I got married in April 2009 - so my last name on the plan needs to be changed (so that I can deposit the check into my bank account which I have already changed my last name on), but I do not want to involve my husband in this process. There are forms for him to sign to opt out of any benefits of receiving the lump sum payment and we will be filing our taxes as Married, filing separately. Once he signs these forms, will this make it so he is not involved in receiving this money (for tax purposes, etc.) Thanks!
Submitted: 4 years ago.
Category: Legal
Expert:  INFOLAWYER replied 4 years ago.
Do you have a copy of your pension policy?
Customer: replied 4 years ago.
I spoke with the service center on the phone & they sent me the retirement package to fill out for the withdrawl. That's all I have.
Expert:  INFOLAWYER replied 4 years ago.
The answer depends a great deal on the terms of the policy. Policies vary in when they vest and age requirements. If you have vested, you can indeed fill out the application.
Customer: replied 4 years ago.

I do not accept this answer & do not wish to have my credit card charged. Telling me I can fill out the application does not answer any of my questions. The person on the phone, no one that has legal knowledge, told me what I have been told here.

Thanks

Expert:  INFOLAWYER replied 4 years ago.
I cannot give you a conclusion on a policy I have not seen. I will opt out of the question and see if a colleague has other comment.

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