Expert: Allen - 7/5/2007

Question
My Husband was in the electrical union, he has left for another position that is not union. He travels a lot with his job. We wanted to purchase a travel trailer so he can use for new job. We are told this is considered another home.  We also need to do so much needed repairs on our home. He is told that he cannot get his pension--even after leaving employment. They said it is regulated by the government. We realize there are penalties and taxes.
Any help would be appreciated

Answer
The pension plan is governed by general rules that apply to all plans (and regulated by the government) and to specific rules established for the plan. There is nothing in the general rules that prohibits payment to someone who has terminated employment. However, the plan can have a provision which restricts payments until a participant reaches a certain retirement age.

If your husband's plan restricts payments, there is only one long shot alternative. You can go the union and ask them to negotiate a change in this provision.