Legal Question in Investment Law in Illinois

I have recently given my resignation, after 13 years of employment. I took out a loan against my defined benefit pension plan about 2 years ago. I would like to take a cash disbursment minus the amount due on my loan. My employer seems to be stalling. Can he deny my request?


Asked on 9/27/10, 6:10 pm

1 Answer from Attorneys
Stephen Messutta

Depends on the terms of the plan and your employment. But when you say "seems" how long has your request been in?

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is currently licensed to practice law actively only in the State of Illinois, inactively in Florida. Responses are based solely on Illinois law unless stated otherwise.

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Answered on 10/08/10, 9:02 am


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