Pull money out of my pension early for a hardship

Discussion in 'UPS Discussions' started by Kathy C Knauss, Jul 25, 2017.

  1. SoCalifMOm

    SoCalifMOm New Member

    My husband has worked as a loader for UPS for 16 years and we are having major hardships with medical bills. Can he pull some money out of his pension?
    Thank you, crying wife
  2. Turdferguson

    Turdferguson Just a turd

    Last edited by a moderator: Jul 26, 2017
  3. SoCalifMOm

    SoCalifMOm New Member

    I read somewhere you could take 10% for only hardships
  4. From your 401k plan. Not your pension
    • Agree Agree x 2
    • Like Like x 1
    • List
    Last edited by a moderator: Jul 26, 2017
  5. rod

    rod retired and happy

    Has a 16 year employees health insurance gotten that bad? P.S. DON"T USE YOUR REAL NAME
    Last edited: Jul 25, 2017
  6. SoCalifMOm

    SoCalifMOm New Member

    Thank you, changed name
  7. olroadbeech

    olroadbeech Happy Verified UPSer

    does he have a 401k? he may be able to take a loan for a hardship. not sure .
    we have had tremendous medical bills over the years. our insurance has paid most of them and we negotiated the rest down to almost zero. You have to go to the billing dept. of the doctor and explain your situation.

    my mother used to work in billing at a hospital and it was not unusual for them to write off most of the patients responsibility after the insurance payment.

    doctors and hospitals charge so much because they know they are going to have to write off a percentage. it's a tax deduction for them anyway.
    • Informative Informative x 1
    • Creative Creative x 1
    • List
  8. Wally

    Wally BrownCafe Innovator & King of Puns

    What medical bills? Don't part timers have insurance?
  9. Indecisi0n

    Indecisi0n Well-Known Member

    Have any pics? Maybe we can work something out.
    • Informative Informative x 1
    • Friendly Friendly x 1
    • Optimistic Optimistic x 1
    • Beer Beer x 1
    • List
  10. rod

    rod retired and happy

    That's what I said---and I didn't get an answer either.
  11. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Yep not understand this.

    Maybe she's really been sitting at home buying shoes all day.
    • Funny Funny x 4
    • Agree Agree x 1
    • List
  12. JL 0513

    JL 0513 Well-Known Member

    Yeah, something's off with the story. Part timers insurance covers most of everything.
  13. over9five

    over9five Moderator Staff Member

    Even sex reassignment surgery?
    Asking for a friend..
  14. Number-Nine

    Number-Nine Member

    My husband likes cheese
  15. JL 0513

    JL 0513 Well-Known Member

    No, you have to sign up for the military for that.

    Oh wait, Trump ended that insanity today.
  16. Indecisi0n

    Indecisi0n Well-Known Member

    Can I have what they cut off?
    Asking for a friend...
  17. Wally

    Wally BrownCafe Innovator & King of Puns

    We have really good insurance. Their bills really should not be that much. Even with that, make payments you can afford. There should be no hardship from that.
  18. TearsInRain

    TearsInRain IE boogeyman

    don't touch your 401k, that would be monumentally stupid
  19. olroadbeech

    olroadbeech Happy Verified UPSer

    i agree for the most part. depends on circumstances. this would be a last resort.

    you can loan money from a 401k for education expenses, prevent eviction from home, to buy a home , and to pay un-reimbursed medical expenses.

    the OP should seek professional advice before doing anything .
  20. Mst3k

    Mst3k Active Member

    Sounds like wifey was secret bills and wants to raid the family savings to pay them.