[IBM Pension] Re: LTD & Pension
- Do you know if any other LTD companies are any different? Seems like
it might be the way they operate, no?
--- In firstname.lastname@example.org, Becky Johnson
>sounds like a wonderful benefit but only until you have to use it.
> I can attest personally to what snakes LTD (Metlife) are. LTD
Social Security is deducted from LTD benefit the balance is paid to
you, also LTD will take their "cut" from retroactive SS funds. They
will bombard you with paperwork and innumerable hoops to go thru to
maintain your LTD. Their goal is to knock as many recipients out of
LTD as possible. They are rewarded (bonuses) by the number they
successfully eliminate from LTD. AND if you are successful in
satisfying the demanding paperwork, they in my case had a private
investigator follow me, I only know this because my Doctor showed me
the report.... I was reported doing nothing that would contradict my
disability, and the report was full of inaccuracies that I needed
legal representation to dispute. I won another battle and then was
directed to see a physician of their choosing and his brief exam (.5
hr) found me able to work, regardless of conflicting medical reports
from my doctors.
>had 25 years with the company and lost just about everything, I was
> At this point I gave up, all the fight had left me, they won. I
offered medical benefits thru Cobra, who can afford those rates? but
I was offered an early retirement with no benefits just $$, a
pitiful amount compared to what I had anticipated. I MUST MENTION
SOCIAL SECURITY STILL ACCEPTS MY DISABILITY and I continue to draw
benefits from them. The net being: if you used your car insurance to
often, they would drop you, the same goes with LTD, mine isn't an
isolated case, I've spoken with many others who had the same
>comapany NOT to pay you. They are snakes.
> Paly <pal409@y...> wrote:
> Be very very careful with LTD it is goal of the insurance
>payment. this includes Social security, and any pension.
> "A. Chew" wrote:
> the LTD rules, as I understand them.
> income that you received is subtracted from your LTD
> as an example...
> if your LTD were 3000
> if your s.s. were 1000
> your ltd would be 'off set' and your total monthly would remain
>qualify for benefits OR when you begin drawing your (full) pension
> ----- Original Message -----
> From: keep_ur_promises
> To: email@example.com
> Sent: Wednesday, December 28, 2005 9:11 AM
> Subject: [IBM Pension] Re: LTD & Pension
> I believe that generally, you will receive LTD as long as you
amount. In other words, your LDT benefits cease (regardless of
whether or not you are still diabled) as soon as you qualify for,
and begin drawing your vested pension amount ( you can't draw both
at the sime time) . You can however, if you qualify, be drawing
Social Security Disbility and your pension at the same time. This is
my opinion only, so this advise is roughly worth what you are paying
>receive their vested DB ammount when 'seperating' for LTD???
> --- In firstname.lastname@example.org, "otismom53" wrote:
> > If someone is approved for LTD, are they also eligible to
- Let me just suggest for the benefit of others (sorry about your
situation it stinks for sure) that current employees pursue a
supplimental disability policy outside of IBM while they can still get
Now that IBM has cut default LTD coverage from 66% down to 50% and
Short-term disability from 1 year down to 6 months... (yes that was
nice of them ... wasn't it...?) it is possible to get a supplimental
LTD policy on your own for roughly 20% of salary ... not a lot of
money, but it is your own policy, portable, since you pay the premiums
the benefits paid if any are NOT taxed, and spreads the risk of being
denied coverage across two insurers.
Worth looking into ... also in the event of a layoff you would still
have coverage if you got your hand caught in the weed-eater or
something after you had to let the lawn service go... (earnings
lookback formulas vary but most are average of last 12 mo. or 24 mo.
whichever yeilds the higher "base" earnings).
--- In email@example.com, Becky Johnson
>like a wonderful benefit but only until you have to use it.
> I can attest personally to what snakes LTD (Metlife) are. LTD sounds
> regasega <regasega@...> wrote: Do you know if anyFrom what I read and people I spoke with all these company paid plans operate this way.I have heard nightmare stories where they just stop a persons check without notice. Its a disgrace that it happens.
> other LTD companies are any different? Seems like
> it might be the way they operate, no?
> thekanck <firstname.lastname@example.org> wrote:EXCELLENT ADVICE !!!!!!!
> Let me just suggest for the benefit of others
> (sorry about your situation it stinks for sure)
> that current employees pursue a supplimental
> disability policy outside of IBM while they can
> still get one. . .
Also if you are paying the premiums yourself, the diability income you receive is not taxable. I notice the cops and firemen don't have this problem, the secret word is UNION.