WC and 401K and retirement

[brown eyes]

Hi I am new here nice to meet you all
California

My husband was hurt on the job last May, he has had sugery and is still recovering, his dr. that has been caring for him is now saying there is nothing more he can do. His rotator cuff was torn very bad. And it still is not quite right. Our question if, anyone can help with an answer is this. He has been with this company for 25 years and it has been difficult working there for a couple of years, he has applied for medicare an is of full retirement age, He has a 401K but can not move it until he no longer works for this company, Our bottom line question is can he quit and retire ( he still wants to work when he has recovered) and will this action hurt his WC claim?? Or will the claim remain in force until he is fully recovered?? We want to move his 401k from control of this comp. but do not want to hurt his WC claim.
Thanks

[jayne]

I had to quit to get my 401k out....calif laws are really different but someone from there will be along soon....welcome to our site

[brown eyes]

jayne Wrote:I had to quit to get my 401k out....calif laws are really different but someone from there will be along soon....welcome to our site

Thanks jayne for your welcome and reply, yes he will have toquit the job to get his 401K but will quiting hurt his ongoing WC claim?

[Bad Boy Bad Boy]

401 K's are goverened by the IRS, and others. His employer can't mess with it, until he retires. Once he is no longer employed with such emplyer, and is at the proper age group set-up in the 401 K contract, then he can elect to make for payments sent to him and such.. Or he can roll it over into another type account. Surely there are also people in your Bank to help with any Roll over questions you may have.

[brown eyes]

Thank you to all that replied to my post.
Godfather I do understand about rolling it over I was asking more on the point of if my hb was to leave his job (because he would have to in order to do anything with the 401K) would his WC be affected in anyway.He has applied for full retirement and is on medicare, his SS checks will start this month.

[cfree1961]

I cannot help you on this matter but would like to say welcome!,I too am recovering from a torn rotator cuff and laberal tendon repair and finding out it takes quite a while to recoup but even after 6 mo after surgery still having pain issues and at my last docors appt last week he said I will NOT be able to return to my old job working for a trash company,he says I cannot do all the repedative heavy lifting I could mess up my shoulder again maybe worse! but as stated earlier some who knows more should be along and help you out,again welcome!

[capricorn]

Works like mine "brown eyes". When/if I ever settle I will have to resign/retire in order to collect my pension.

Good luck,
CAP

[Bad Boy Bad Boy]

Will not affect his WC funds at all. Because this is his, and your money that has been saved over the years.

[capricorn]

BB>>>can you explain further??? I am still employed. I cannot apply for disability on my pension or retire and collect my pension without WC cutting that amount from my WC check. Are we talking about two different things? Once I settle I will be forced to resign at which point I am free to apply for my pension and SSD> Am I on the right page? the same page as you?


CAP

[muttley]

At the company I work you can withdrawl your "vested" 401k amount in extreme emergencys ..for example your home burns down or health problems. I would double check those rules just to be sure.