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Annuity withdraw denied

Discussion in 'Life Insurance, Annuities & Other' started by Johnnytrs, Mar 13, 2017.

  1. Johnnytrs

    Johnnytrs Law Topic Starter New Member

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    Hi, I am a bricklayer,and I worked in an out of state local, and was told by the business agent there that so much per hour was going into an annuity, and that once I was out of work in their local for six months or longer, that I could collect the money. Well here it is, 3 years later, I have not worked in that local or area in 3 years, but they are now telling me that the rules changed and I have to be retired, or out of the trade completely or laid off for 8 months to collect my money. Do I have any recourse since I was told different at the time of my employment there? Also I never received any information that they were changing the rules, and they even admitted that they didn't send any notifications of that. Thanks for any help.
     
  2. cbg

    cbg Super Moderator

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    It depends entirely on what is in the contract and the plan document. If the contract and the plan document have changed, then it doesn't matter what you were told earlier or whether they sent you a notice or not. They MUST follow what is in the union contract and the plan document.
     

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