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Wed 21 Jun, 2017 09:45 am
I am 59, have been laid off, and have rolled over the 401k from employer into an IRA. The 401k included contributions from both me and the employer. I have taken a chunk of the ira to purchase an annuity, and will start receiving monthly annuity payments next month. i've also started collecting unemployment (nj). Will this annuity income impact my unemployment eligibility and/or weekly benefit?
Why don't you ask the unemployment benefit office? They would know, and anyway, failure to report income affecting your entitlement may be fraud and might lead to a court case, fines, and an order to repay benefit.
@powersm127,
It's best to check with your State Department of Labor.
@powersm127,
I'd do some research online first. The govt is notorious for giving bad info and "neglecting" to inform you of your rights. Their rules and regulations are so complicated even the employees don't really understand them.
My mother had an issue with SS and all the info they gave her face to face in the office was wrong. Of course it did not come out until she hired an attorney.
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