Can I draw a pension as a condition of sick-time payout?
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Can I draw a pension as a condition of sick-time payout?
I will be 59 shortly and will be retiring on my 59th birthday. I am a
union member and our contract states,
Asked on July 27, 2018 under Employment Labor Law, Michigan
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
As a general matter, to "retire" means to cease working; it has nothing to do with drawaing a pension (or social security for that matter), since people can and do retire without having, or if they have one, drawing from at that time, a pension. While you need to look into the specifics of your union contract, including any definitional section defining "retirement," for a definitive answer, as a general matter, drawing your pension has no bearing on whether you are retired or not--and therefore whether you can get the payout or not. If the contract required you to draw your pension for the payout, it could have said that; since it did not, that strongly implies you do not need to draw on your pension.
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