Legal Question in Business Law in New York

pension benefits

Are pension benefits paid prior to termination of employment? And...as the beneficiary of a relative's pension fund, I was recently notified that I've been overpaid for a number of years. The company has requested a total refund, of quite a large sum, in the next 60 days. What is my legal responsibility?


Asked on 1/09/09, 6:59 am

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: pension benefits

Termination of employment does not dictate when and if a pension is paid. Pension rules dictate when pension is paid. So, you would have to read the rules concerning the pension. Generally, however, age dictates when a pension is paid.

If a pension overpaid money to the beneficiary, and the overpayment was in the last 6 years, you would have the responsibility of returning the payment.

Mike.

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Answered on 1/09/09, 7:53 am


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