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John, Employment Lawyer
Category: Employment Law
Satisfied Customers: 5571
Experience:  Exclusively practice labor and employment law.
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My name is I have a pension trew the hertz corporation in

Customer Question

hi my name is ***** ***** have a pension trew the hertz corporation in Illinois I have empyasima and I suffer from depression and anxiety I have medical bills pilling up due to my illness and I am also and fmla employee which causes me to miss I in any to get any of my pension while still working I am only 43
Submitted: 1 year ago.
Category: Employment Law
Expert:  John replied 1 year ago.

Hi, thanks for submitting your question today. My name is John. I have over 13 years of legal and consulting experience in this area. I’m happy to assist you with your question today.

There is generally no way to continue to work and collect pension benefits. What you may want to consider is filing for three things in lieu of working - a disability retirement (assuming it is allowed in your retirement plan), social security disability and long term disability. The long term disability will be less because it is reduced when you receive other income sources, but you can probably get nearly all your wage replaced by these three benefits. You'll need to have medical evidence that you are disabled to get these, but I believe it's probably your best option under the circumstances.

I believe this answers your question. However, if you need clarification or have follow-up questions regarding this matter, I will be happy to continue our conversation – simply reply to this answer. If you are otherwise satisfied with my response, please leave a positive rating as it is the only way I am able to get credit for my answers. Thank you, ***** ***** wish you all the best with this matter.

Customer: replied 1 year ago.
Sorry I should have been more clear can I just withdraw from my pension to help pay for medical bills
Expert:  John replied 1 year ago.

So, what you are talking about is what is called a "hardship withdrawal". It's can be fairly costly to do (unless you meet the exceptions of spending in excess of 7.5% of your income on the debt) , but it is allowed under the current pension laws. Pension plans however are not mandated to have that feature in the plan. So you first need to get a copy of the plan from the administrator or ask the administrator if it is possible. If they have it you can do it of course.

Expert:  John replied 1 year ago.

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