I had to leave a job due to health reason and will probably have to get SSDI. what should I do with my 401k from my previous job?

Call your local SSA office and find out what the maximum assets are for you to qualify for SSDI. I think that it is 3000.00 dollars. If you have over that you might not qualify. I could be wrong but that is what it is to qualify for SSI. SSI and SSDI are to different entities though.

If at all possible your best bet would be to roll it over into IRA.

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Nightline, you are mixing up SSI and SSDI. SSI has income and asset limits. SSDI is based solely on the amount of money you and your employers have paid into the system. Under SSDI, a 401k can be left right where it is.
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by Anonymous on October 18th, 2008
Thanks you are absolutely right! I was thinking he should also check out the medicare that comes with SSDI would he have a larger spend down because of the 401k? Just a thought. I am taking cram classes right now on SSI,SSDI, Medicaid, Medicare TANTF and food stamps. Sometimes it all blurs into one.
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by nightline on October 18th, 2008
Sure, you are welcome. I just went through the SSDI process and was approved on the first try, without an attorney. I'm still in shock... I don't know the Medicare part of it yet because I won't be eligible for many months so I do not know that portion of it. Good luck to you in your studies.
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by Anonymous on October 19th, 2008
Getting benefits the first time around is truly amazing. I don't hear of it often. Congratulations! You must have been very thorough in the information that you sent them.
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by nightline on October 19th, 2008

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I had to leave a job due to health reason and will probably have to get SSDI. what should I do with my 401k from my previous job?

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I had to leave a job due to health reason and will probably have to get SSDI. what should I do with my 401k from my previous job?

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