Can I leave my employee pension to my spouse or child? (2025 Pension Rules) It is generally possible to leave your employee pension to your spouse or your child, meaning that if you pass away, the payments will continue to be made to the specified survivor. However, whether or not you can do this in any specific situation will depend on the type of employee pension you have. → Read More
Are pension plans insured? Whether or not your pension plan is insured will depend on the type of pension plan you have. Subject to certain limitations, the Pension Benefit Guaranty Corporation insures certain benefits under defined benefit pension plans. There is generally no insurance for a defined contribution plan. → Read More
What are the penalties for not paying back a loan out of my profit sharing plan after I leave the job? Whenever you take out a loan against your employer’s profit sharing plan and aren’t able to repay the loan within the allotted time frame that the loan plan gives you, you can be penalized against the amount of the remaining balance on the loan. The amount that you pay because of the penalty depends both on the amount of your loan balance and the type of profit sharing plan your employer provides. → Read More
Do I automatically lose my health insurance when I lose my job? You won’t necessarily lose your health insurance if you are fired or laid off from your job. → Read More
Is my employer permitted to borrow money from my pension plan, as long as the employer pays it back? Is my employer permitted to borrow money from my pension plan, as long as the employer pays it back? → Read More
Can I collect my spouse’s retirement benefits after his or her death? If your spouse has a retirement plan and dies without collecting on it, it may be possible for you to collect the benefits s/he would have been entitled to. This right stems from a regulation in place under ERISA, the Employee Retirement Income Security Act of 1974. ERISA, which is a federal act, states that a pension plan must have something referred to as survivor’s benefits. These benefits mean that, should the holder of the pension plan die, the person’s spouse is allowed to receive fully vested benefits from the plan. → Read More
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