judypatootie
07-15-2004, 11:46 AM
Purplebill:
I have what is probably a dumb question, but I figure you're the guy to answer it. (In laymans terms, please!!... I'm not stupid, but I am too new to all this to understand the techie terms..Thanks! :)
When I got my approval from the local office, they told me that SSI for me would be no problem, in fact, a guaranteed thing. But when I went in yesterday, the SSI worker (different lady than my original SSD one) was looking at my two paystubs that I received the first part of January. She was going over the taxes, deductions, etc and came to "TSA" & asked me to confirm what that meant. I told her it was my Tax Sheltered Annuity and the balance was around $4,000.00. She said that since I had that, then it negated any chance of my receiving SSI. When the original lady was going over stuff for SSD, she did ask if I had a retirement with the hospital I had worked for. I DID tell her 'no'. I thought that what she was referring to as a "retirement" policy was just that....a retirement check FROM the hospital that I would receive at 65. Since I was terminated, I knew I wouldn't be getting that, so I thought the correct answer was no. Especially since the TSA was not a 401(k) or a contribution matching plan of any sorts.
OK... now to the question.. I need to get major repairs on my house and my credit really stinks.. IF I cashed out the TSA and used the money for the house, could I reapply legitimately to SSI since I would no longer "have" the TSA??
Would they still only go by the fact that on my last paystubs the TSA was there? Or would I be better off to fix a little bit at a time and leave my TSA alone??
I told you they were probably dumb questions, and I know you are not a "personal financial counselor", but if anyone would know, you would.
Thanks a bunch, Judy in Ohio
I have what is probably a dumb question, but I figure you're the guy to answer it. (In laymans terms, please!!... I'm not stupid, but I am too new to all this to understand the techie terms..Thanks! :)
When I got my approval from the local office, they told me that SSI for me would be no problem, in fact, a guaranteed thing. But when I went in yesterday, the SSI worker (different lady than my original SSD one) was looking at my two paystubs that I received the first part of January. She was going over the taxes, deductions, etc and came to "TSA" & asked me to confirm what that meant. I told her it was my Tax Sheltered Annuity and the balance was around $4,000.00. She said that since I had that, then it negated any chance of my receiving SSI. When the original lady was going over stuff for SSD, she did ask if I had a retirement with the hospital I had worked for. I DID tell her 'no'. I thought that what she was referring to as a "retirement" policy was just that....a retirement check FROM the hospital that I would receive at 65. Since I was terminated, I knew I wouldn't be getting that, so I thought the correct answer was no. Especially since the TSA was not a 401(k) or a contribution matching plan of any sorts.
OK... now to the question.. I need to get major repairs on my house and my credit really stinks.. IF I cashed out the TSA and used the money for the house, could I reapply legitimately to SSI since I would no longer "have" the TSA??
Would they still only go by the fact that on my last paystubs the TSA was there? Or would I be better off to fix a little bit at a time and leave my TSA alone??
I told you they were probably dumb questions, and I know you are not a "personal financial counselor", but if anyone would know, you would.
Thanks a bunch, Judy in Ohio