Employment Law

Employment Law Questions? Ask an Employment Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Employment Law

I have a pension plan with mci/verizon and i can only get a

Customer Question
monthly check,i would like a lump...
I have a pension plan with mci/verizon and i can only get a monthly
check,i would like a lump sum, they say i can protest it with
an application,i was wondering can say in the protest,to
recieve a lump sum....
Submitted: 6 years ago.Category: Employment Law
Show More
Show Less
Ask Your Own Employment Law Question
Answered in 1 hour by:
7/11/2011
Employment Lawyer: JBaxLaw, Employment Lawyer replied 6 years ago
JBaxLaw
JBaxLaw, Employment Lawyer
Category: Employment Law
Satisfied Customers: 11,396
Experience: Government and private sector employment law experience
Verified
Hello,

Please click the ACCEPT button, even if you have placed a deposit or are on a subscription plan.

When a retired employee requests a lump sum payment from a pension which does not normally make lump sum payouts, the employee is basing the request on hardship normally. The pension plan administrator will identify the basis for lump sum payments, if you ask. While they may vary, one would expect financial hardship to be a basis on which a lump sum payment may be made.

Thank you
JBaxLaw
JBaxLaw, Employment Lawyer
Category: Employment Law
Satisfied Customers: 11,396
Experience: Government and private sector employment law experience
Verified
JBaxLaw and 87 other Employment Law Specialists are ready to help you
Ask your own question now
Customer reply replied 6 years ago

Sir,I know what Hardship means,but eaxactly what shape finacially does one have to be in, and also is there someone their that could write in the application that

would sound better than i could..??

Employment Lawyer: JBaxLaw, Employment Lawyer replied 6 years ago
I appreciate your patience. I intended to convey that there is the plan will have its own requirement for requesting the lump sum payment. You need a copy of the retirement plan documents which explain the circumstances in which a lump sum payment is permitted. An administrator will only allow the lump sum payment if the plan requirements are met. The first step is to obtain the plan requirements for a lump sum distribution. That would be done before applying as one would need to know the requirements prior to submitting a request. Plans vary and this is why you must first check with your specific plan. This site can only provide information. We cannot actually complete an application or other documents for you.

Thank you
Ask Your Own Employment Law Question
Ask JBaxLaw Your Own Question
JBaxLaw
JBaxLaw
JBaxLaw, Employment Lawyer
Category: Employment Law
Satisfied Customers: 11,396
11,396 Satisfied Customers
Experience: Government and private sector employment law experience

JBaxLaw is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I must thank you all for such a positive and knowledgeable Expert in your Employment Law category. She has provided much relief and answers for me in the midst of dealing with a case. I am totally pleased with her customer service and care.

MildredWashington, DC

Excellent direction from Socrateaser to help me preserve and pursue my rights as a proud American who has become unemployed in this messed-up economic downfall. Thank you

Happy CustomerDenver, CO

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,184 satisfied customers

JD, BBA, recognized by ABA for excellence.

Allen M., Esq.

Allen M., Esq.

Employment Lawyer

12,549 satisfied customers

Employment/Labor Law Litigation

Marsha411JD

Marsha411JD

Lawyer

12,316 satisfied customers

Licensed Attorney with 29 yrs. exp in Employment Law

Infolawyer

Infolawyer

Lawyer

12,054 satisfied customers

Licensed attorney helping employers and employees.

JB Umphrey

JB Umphrey

Lawyer

6,273 satisfied customers

Assisting employees and employers for over 14 years.

John

John

Employment Lawyer

3,912 satisfied customers

Exclusively practice labor and employment law.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

3,007 satisfied customers

I provide employment and discrimination law advice in my own practice.

< Previous | Next >

Related Employment Law Questions
I just found out last oct. that I had a pension plan and
I just found out last oct. that I had a pension plan and would br retroactive as of last august, now they are saying it wont be retroactive cause I didn't sign a paper, but they told me not to send it… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a pension questio. It's not my pension but my
It's not my pension but my recently deceased fathers … read more
Marsha411JD
Marsha411JD
Lawyer
Doctoral Degree
12,316 satisfied customers
Can a union pension plan take away your pension payments if
Can a union pension plan take away your pension payments if you go back to work for someone else at 66 years of age. … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,688 satisfied customers
My defined pension has been reduced after 25 years. My plan
my defined pension has been reduced after 25 years . My plan is managed by a California company for my work in the state of California. Do I need a local lawyer or one in California. thanks Del … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,688 satisfied customers
I have a question about pension plan I worked for Bank of
I have a question about pension plan I worked for Bank of America for 25years, we had a 401k to help with our retirement. Bank of America were doing layoff back in late 90s .I was told that I had rece… read more
socrateaser
socrateaser
1,031 satisfied customers
I looked into switching from the Investment Plan to the
I looked into switching from the Investment Plan to the Pension Plan three years after I stared working for SJCUD. I was told then that it would cost me an additional $10K to switch. I looked into it … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Can a state take away the part of my pension plan, the part
Can a state take away the part of my pension plan, the part I invested in, if i go on disability… read more
LawyerDavid
LawyerDavid
Vice President & General Counsel
Juris Doctor
378 satisfied customers
It's a pension plan. I was told Id get lump sum of 299K,
It's a pension plan. I was told Id get lump sum of 299K, didn't file paperwork, second paperwork says 11K less now lump sum. … read more
John
John
Employment Lawyer
Doctoral Degree
3,912 satisfied customers
If I have my pension from state retirement plan directly
If I have my pension from state retirement plan directly deposited to my bank in Mexico where I am moving...can a judge,eat in la. Garnish my monies … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,327 satisfied customers
I have a pension plan administrator who ran up a tab on me
I have a pension plan administrator who ran up a tab on me on several occasions without my consent. I refused to pay. That account is 4.3 years past due and accrues 1.5% interest per month. The guy st… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,327 satisfied customers
I want to cash in my pension plan early. I am 57 YO. Yes;
I want to cash in my pension plan early. I am 57 YO. … read more
Ely
Ely
Counselor at Law
Juris Doctor
266 satisfied customers
I have 3 retirement plans, a defined benefit, a profit
I have 3 retirement plans, a defined benefit, a profit sharing plan, and a 401K/PSP. I retired 11/15/16. when do I need to withdrawal money from these plans, December 31 or January 15th? Also must I w… read more
John
John
Employment Lawyer
Doctoral Degree
3,912 satisfied customers
Have a question regarding a pension plan with no beneficary.
Have a question regarding a pension plan with no beneficary. … read more
John
John
Employment Lawyer
Doctoral Degree
3,912 satisfied customers
Can a pension plan be removed if the employer accuses you of
Can a pension plan be removed if the employer accuses you of something illegal? … read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
12,054 satisfied customers
The PBGC took over my company's pension plan when it went
the PBGC took over my company's pension plan when it went bankrupt. I received my estimated benefit statement and it says my prior plan administrator was estimated at $3,553.70 a month. PBGC show it s… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I recently retired from UFCW pension plan after 30 years in
I recently retired from UFCW pension plan after 30 years in the furniture business. 95% of my sales income was from furniture with the balance coming from window treatments and floor covering. The Uni… read more
John
John
Employment Lawyer
Doctoral Degree
3,912 satisfied customers
My father was in a defined benefit pension plan through his
My father was in a defined benefit pension plan through his employer. The plan stated that at 60 years of age and 30 years of service, the employees would be eligible for a full unreduced retirement b… read more
John
John
Employment Lawyer
Doctoral Degree
3,912 satisfied customers
I recently contacted my Target Pension Plan to find out why
I recently contacted my Target Pension Plan to find out why had not been contacted at the age of 65 about pension payments. The agent said he did not know but I was eligible for payments now. I am cur… read more
Marsha411JD
Marsha411JD
Lawyer
Doctoral Degree
12,316 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x