ABA Family Legal Guide

The Rights of Older Americans

Pensions

Traditional Pension Plans

Is my right to collect my pension guaranteed?

You always have the right to money you contributed to the pension fund. If you leave a company after only a few years, that money should be paid back to you in a lump sum. If you work for the employer long enough, you will have a vested interest in your pension, meaning that your benefits cannot be denied even if you quit. If the total value of your pension is $3,500 or less, your plan can require that you take it as a lump-sum payment.