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Bankruptcy and Social Security | Know Your Options | Faro & Crowder, PA
If you are considering filing for bankruptcy protection and you receive Social Security benefits, you are probably wondering how your benefits will be impacted. Social Security Benefits In short, the law protects your Social Security benefits and you will not lose them in your Chapter 7 or Chapter 13 case. However, your benefits can have...
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Lockheed Martin, the defense contractor based in Bethesda, Maryland, announced recently that it is freezing pension benefits that will impact nearly 48,000 salaried employees over a period of four years. Lockheed Martin Lockheed had closed its pension plan to new employees in 2006. It intends to replace the defined-benefit plan with an enhanced 401k. Under...
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