Expert: Allen - 1/19/2007

Question
i worked for a company for 16 years i left the company in 2000 i left the pension money there in 2005 i requested lump sum distribution and have them hold all taxes the company had changed from t rowe price to minnesota life ins co. with the pension i was told that there was an evidnce of good health clause and i didnt pass the physical so no lump sum which was 48,000.00 but i could get 245.00 a month till i die is there any way by this im 50 yrs old thank you    dalton

Answer
If the plan is a traditional defined benefit pension plan, then there is either a lump sum option or there isn't a lump sum option. Using this option can't be dependent on your health status. If the plan is something other than a traditional defined benefit pension plan, it may be possible.

If you think you are being treated unfairly, you shouls contact the local office of the U.S. Dept. of Labor, Employee Benefit & Security Administration.