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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 43 Chapter 5 Assets

5.5.35 PENSION AND OTHER RETIREMENT FUNDS 5.5.35.A Cash Value of Pension Funds SNAP, WV WORKS and AFDC-Related Medicaid: The cash value of these accounts is excluded, unless removed from the account. SSI Medicaid Groups: The amount counted is the total cash value of the account or plan, minus the amount of the penalty, if any, that would be applied for the early withdrawal of the entire amount. Pensions or other retirement funds of spouse’s ineligible to be included in the SSI-related Medicaid category because they are not aged, blind, or disabled are not deemed, nor are those belonging to parents or spouses of parents. Once removed from the pension or retirement account, the fund(s) is counted according to the policy for the asset to which it is converted (e.g., bank account, CD). 5.5.35.B 401(k) Plans SNAP: The cash value of these accounts is excluded, unless removed from the account. WV WORKS and AFDC-Related Medicaid: The amount counted is the total cash value of the account or plan, minus the amount of the penalty, if any, that would be applied for the early withdrawal of the entire amount. SSI Medicaid Groups: The amount counted is the total cash value of the account or plan, minus the amount of the penalty, if any, that would be applied for the early withdrawal of the entire amount. SNAP WVW, AFDC-Related SSI Groups No* No* Yes* SNAP WVW, AFDC-Related SSI Groups No* Yes* Yes*