Legal Question in Workers Comp in Pennsylvania

Cashing Out Pension

I worked for this company for 7 years and contributed to a pension fund. There was no company contributions toward my pension. I was injured and I am collecting comp. Now they fired me and they want to cash out my pension and send me a check. Since this is money that I earned prior to being injured can they claim an offset? Can they reduce my comp checks if I cash out? I know I can roll it into an IRA, but I have some debts I would like to payoff and I'm not sure if I can roll all of it into an IRA, isn't the max like 3000? I feel like they're trying to pull a fast one on me, I just don't want to do anything that can get my checks reduced or temporarily stopped.


Asked on 4/02/09, 7:39 pm

1 Answer from Attorneys
James Monaghan Law Office of James V. Monaghan

Re: Cashing Out Pension

I have several questions. Is it a pension or is it a 401K? Either way, if you are not accessing the benefits, it shouldn't be a problem. I would like more details though. Please contact my office and speak with Jim Monaghan, our workers compensation specialist.

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Answered on 4/03/09, 10:58 am


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