Guest guest Posted August 16, 2006 Report Share Posted August 16, 2006 Matt, When I went on my disability I had to drain one of my retirement accounts and was able to do so with no penalty because of disability and needing it to survive. Ron Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 17, 2012 Report Share Posted January 17, 2012 congratulations on the full time job!! 401K My daughter starts a new full time position next week. I understand what the etails are concerning work credits, SSI eligibility and Medicaid eligibilty. ne of the benefits is a 401K plan. Can we title the plan in her Special Needs rust so she and her employer can contribute; therefore effectively not having o deal with the $2,000.00 asset rule? ------------------------------------ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name)  and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <jeruefamily@...> IPADDUnite Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K  Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 I would also like to hear the answer to this question. The problem is that the employer sets up the 401K for all employees. It is a voluntary program, but it does provide retirement income for the future. I have a hard time reasoning that the employer would place the money in a special needs trust because of the set up of the company pension plan. The 401K plan is a pretax contribution of her own money. The gross amount of money before the deduction is what the governmental agencies consider for the reduction of SSI until she earns enough credits to get SSDI. Will she earn enough not to need the State services? Maybe it would be worth the wait until she earns enough to get SSDI. Please keep us informed. From: Shirley Linden Sent: Wednesday, January 18, 2012 8:59 AM IPADDUnite Subject: Re: Re: 401K I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name) and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <mailto:jeruefamily%40comcast.net> mailto:IPADDUnite%40 Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM mailto:IPADDUnite%40 Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 HBWD is based on the monthly income and family size--in the case of our kids, the family size is 1 (they are not talking about parents & siblings). For a family of 1, monthly earnings cannot be more than $3,176. (That's $38,112 a year.) HBWD says from its website, " We count your income from your job (minus work expenses), Social Security, veteran's benefits and child support. Supplemental Security Income (SSI) payments do not count as income. " For assets, the website says, " You can have up to $25,000 in assets. Your house, one car and most retirement and medical savings accounts don't count. The amount of assets you had while on HBWD is not counted when you apply for Aid to the Aged, Blind or Disabled (AABD). " http://www.hbwdillinois.com/hfs3792hbwd.html Show me a entry-level full-time job that pays over $38,000 a year and has a 401K that quickly gives you $25,000 in assets, and I'll show you a lot of typical college grads that would be happy to sign up. I don't think that my son, or any kid from this list, is likely to make that kind of money or get that kind of 401K. -Gail ________________________________ From: Shirley Linden <slpanda2@...> IPADDUnite Sent: Wednesday, January 18, 2012 8:59 AM Subject: Re: Re: 401K  I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name)  and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <jeruefamily@...> IPADDUnite Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K  Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 For Medicaid, a 401k is an asset - not income. ________________________________ From: Shirley Linden <slpanda2@...> IPADDUnite Sent: Wednesday, January 18, 2012 8:59 AM Subject: Re: Re: 401K  I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name)  and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <jeruefamily@...> IPADDUnite Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K  Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 ----- Forwarded Message ----- From: Sherri Schneider <benefithelpss@...> " IPADDUnite " <IPADDUnite > Sent: Wednesday, January 18, 2012 9:55 AM Subject: Re: Re: 401K  For Medicaid, a 401k is an asset - not income. ________________________________ From: Shirley Linden <slpanda2@...> IPADDUnite Sent: Wednesday, January 18, 2012 8:59 AM Subject: Re: Re: 401K  I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name)  and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <jeruefamily@...> IPADDUnite Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K  Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 The general rule is that 401K funds or other qualified funds cannot be held in a special needs trust - even a 1st party payback type of special needs trust. These funds must be held in an account in the disabled worker's own name and social security number. The funds held in the trust are treated as a resource. Under current law, if a person works and pays into a 401K, the 401K is not deemed as a countable resource until s/he turns age 65. Holding funds in a 401 K can eventually be a pitfal however as at age 65, the individual may lose his/her Medicaid eligibility if s/he has more than $2,000 in his/her name. This could happen at a time when the parent is aged or is deceased and individual does not have an involved advocate to assist him or her.  For this reason, a parent/advocate must be very careful in monitoring these funds and be ready to act quickly should the laws change. I usually recommend cashing out the funds at some point, paying any taxes due as these are pretax dollars and placing the remaining funds  in a 1st party " Payback " special needs trust. I do not know what the rules will be in the future and if the option of using a Payback trust will be taken away from us by congress so it is difficult to advise parents/clients what to do in these situations. Every family has to to do what they feel is best for their specific situation. HCBWD does not deem funds held in a 401K or IRA as part of the $25,000 in savings a worker is entitled to own and retain eligibility for HCBWD.  Please note that this is a highly dynamic area of law and what is appropriate today, may not be allowed or appropriate tomorrow. I don't say this to confuse you but because it is difficult to know what the rules will be in the future given the state of affairs in Washington and in Springfield. While many folks are willing to give up the small amount of SSI our children receive, we are seldom financially able to turn our backs on Medicaid. Private insurance cannot make up for the loss of Medicaid which is the ticket to adult services.  I mention again the Arc IL training on future planning at Blue Cap, next Friday (1/24) I will cover the above topic and many more so if you want to learn more, I hope you will come. Terrie From: Propheter <cpropheter@...> IPADDUnite Sent: Wednesday, January 18, 2012 9:04 AM Subject: Re: 401K  will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 One more thought...the decision to join the 401K is not once in a lifetime. It's once a year. ( & for some companies, once in, you can change the amount you kick in, more than once a year.) For someone just out of transition, there's a lot of potential working years left! Maybe it's worth it to leave this alone until the SSDI quarters are achieved...provided the employer has a once-a-year opt-in. -Gail ________________________________ From: Colombo <marleney2@...> IPADDUnite Sent: Wednesday, January 18, 2012 9:26 AM Subject: Re: Re: 401K  I would also like to hear the answer to this question. The problem is that the employer sets up the 401K for all employees. It is a voluntary program, but it does provide retirement income for the future. I have a hard time reasoning that the employer would place the money in a special needs trust because of the set up of the company pension plan. The 401K plan is a pretax contribution of her own money. The gross amount of money before the deduction is what the governmental agencies consider for the reduction of SSI until she earns enough credits to get SSDI. Will she earn enough not to need the State services? Maybe it would be worth the wait until she earns enough to get SSDI. Please keep us informed. From: Shirley Linden Sent: Wednesday, January 18, 2012 8:59 AM IPADDUnite Subject: Re: Re: 401K I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name) and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <mailto:jeruefamily%40comcast.net> mailto:IPADDUnite%40 Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM mailto:IPADDUnite%40 Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 A 401K plan does not have to be tax deferred. They now have Roth versions of 401K plans. My husband selected this route with his 401K. > > I would also like to hear the answer to this question. The problem is that the employer sets up the 401K for all employees. It is a voluntary program, but it does provide retirement income for the future. I have a hard time reasoning that the employer would place the money in a special needs trust because of the set up of the company pension plan. The 401K plan is a pretax contribution of her own money. The gross amount of money before the deduction is what the governmental agencies consider for the reduction of SSI until she earns enough credits to get SSDI. > Will she earn enough not to need the State services? Maybe it would be worth the wait until she earns enough to get SSDI. Please keep us informed. > > > > From: Shirley Linden > Sent: Wednesday, January 18, 2012 8:59 AM > IPADDUnite > Subject: Re: Re: 401K > > > I would also be very interested in the answers you get. My son works part time > and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K > it goes towards his income ( total amount of funds in his name) and can cause > him to loose his HBWD which would mean he would loose his Home Based Services > and any other funding he may need in the future. We just choose not to go that > route. Our case is probably different then yours but thanks to anyone that can > clear this up. > Shirley > > ________________________________ > From: Jerue Family <mailto:jeruefamily%40comcast.net> > mailto:IPADDUnite%40 > Sent: Wed, January 18, 2012 8:33:27 AM > Subject: Re: Re: 401K > > > Hi > > Sounds like you’ll be needing the advice of an attorney or Benefits Specialist > who work in this field †" and we’d all appreciate hearing what you find out from > yours on this topic. > > I had the pleasure of meeting recently, she is a lovely and very capable > young woman, with a lot to offer her new employer. was instrumental in > helping her get this job, by the way, folks, it didn’t just fall into her lap. > So kudos to mom and kudos for daughter for making this happen! > > Good luck and please keep us posted, > Laurie > > From: Propheter > Sent: Wednesday, January 18, 2012 8:04 AM > mailto:IPADDUnite%40 > Subject: Re: 401K > > will have a full time position starting next week. I'm not concerned > about getting a lower SSI check, the goal was always for meaningful > employment. My goal is to get her qualified for SSDI (she has one quarter > under her belt from previous part-time teen positions). She is 22 and out > of Transition programming and this will be a permanent position. We will > keep her within the income limits to not get her disqualified from Medicaid > so she can be eligible for services and funding (at the miraculous thought > that it may just ever happen in her lifetime that she would receive > services). The 401K is not set up now.we need to decide if we want that > benefit for her. So my question was/is: If we do accept it can it be > titled in a special needs trust? Do we have to set up a separate special > needs trust or do we not take advantage of that option? She will have no > problem spending her income as she/we have to pay for all her > support.getting the paycheck will make up the difference of getting a > substantially reduced SSI check. We want the Medicaid services in the > longrun, with the services to assist her in her quest to be independent. > Thanks. > > ~Chris > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 18, 2012 Report Share Posted January 18, 2012 Currently, money held in a qualified retirement account (401K, IRA, 403B) is considered exempt for HBWD Medicaid. ________________________________ From: Shirley Linden <slpanda2@...> IPADDUnite Sent: Wednesday, January 18, 2012 8:59 AM Subject: Re: Re: 401K  I would also be very interested in the answers you get. My son works part time and gets SSDI has Medicare and HBWD and I was told if he gets any kind of 401K it goes towards his income ( total amount of funds in his name)  and can cause him to loose his HBWD which would mean he would loose his Home Based Services and any other funding he may need in the future. We just choose not to go that route. Our case is probably different then yours but thanks to anyone that can clear this up. Shirley ________________________________ From: Jerue Family <jeruefamily@...> IPADDUnite Sent: Wed, January 18, 2012 8:33:27 AM Subject: Re: Re: 401K  Hi Sounds like you’ll be needing the advice of an attorney or Benefits Specialist who work in this field – and we’d all appreciate hearing what you find out from yours on this topic. I had the pleasure of meeting recently, she is a lovely and very capable young woman, with a lot to offer her new employer. was instrumental in helping her get this job, by the way, folks, it didn’t just fall into her lap. So kudos to mom and kudos for daughter for making this happen! Good luck and please keep us posted, Laurie From: Propheter Sent: Wednesday, January 18, 2012 8:04 AM IPADDUnite Subject: Re: 401K will have a full time position starting next week. I'm not concerned about getting a lower SSI check, the goal was always for meaningful employment. My goal is to get her qualified for SSDI (she has one quarter under her belt from previous part-time teen positions). She is 22 and out of Transition programming and this will be a permanent position. We will keep her within the income limits to not get her disqualified from Medicaid so she can be eligible for services and funding (at the miraculous thought that it may just ever happen in her lifetime that she would receive services). The 401K is not set up now.we need to decide if we want that benefit for her. So my question was/is: If we do accept it can it be titled in a special needs trust? Do we have to set up a separate special needs trust or do we not take advantage of that option? She will have no problem spending her income as she/we have to pay for all her support.getting the paycheck will make up the difference of getting a substantially reduced SSI check. We want the Medicaid services in the longrun, with the services to assist her in her quest to be independent. Thanks. ~Chris Quote Link to comment Share on other sites More sharing options...
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