Withdrawing Pension

Discussion in 'New England Motor Freight' started by wayne100, Sep 29, 2008.

  1. wayne100

    wayne100 New Member

    Messages:
    7
    Likes Received:
    0
    Trophy Points:
    1
    I left NEMF 2 months ago. Anyone know what I have to do or who to call to get my money out? Was in Bethpage terminal for 5 years, fully vested.
     
  2. steelmiller

    steelmiller Banned

    Messages:
    480
    Likes Received:
    0
    Trophy Points:
    0
    Call HR in Elizabeth, NJ.

    They give you the number to the pension fund.

    After contacting the Pension people you will receive a packet of info concerning the allocation of funds.

    You need to fill it out and have it notarized.

    The transfer then happens in around 1 month.

    Good Luck
     
  3. wayne100

    wayne100 New Member

    Messages:
    7
    Likes Received:
    0
    Trophy Points:
    1
  4. smokie

    smokie Member

    Messages:
    112
    Likes Received:
    0
    Trophy Points:
    16
    This is who you need to call

    You have only 4 years of monies in that fund. The first year did not count, no contribuition untill your there 1 year. It will take 6 months for you to get a lump sum check. If your under the retirement age you will be hit at the end of the year with a 10% penalty for early withdrawal. Plus no matter what age you are, they are going to take all the normal taxes out on you, unless you roll it over into another retirement plan, 401, IRA, etc.
    You need to call (212) 564-4800 OR (201) 592-6800 TELL THEM YOU WERE WITH NEMF LOCAL 447 FOR THE MACHINIST PURHASE MONEY PLAN:smilie_132:
     

Share This Page