QUESTION:

Additional payment to retired personnel

This will sound 'CRAZY' but always good to check out. A friend of mine came to work and asked me if I heard about the additional payment due retired personnel. He told me that at his church, the minister announced this about additional money due retired personnel. A friend of his claims that he received $36,000.00. Like I said 'SOUNDS CRAZY' BUT CHECKING INTO THIS CRAZY ANNOUNCEMENT.
asked by Skiman, 3/7/2009
Categories: Annuities, Retirement Income
ANSWERS:
Answered by: Editorial, 03/19/09
Overall Rating: Be the first to rate it.

I am not sure what you mean by "retired personnel." Perhaps your friend's employer is issuing some kind of bonus, but I have never heard of such a large winfall.

However, there are some developments for Social Security in 2009.

-- A 5.8 percent cost of living increase on your Social Security payments – the largest adjustment since 1982. For reference, the historic average increase is around 3 percent.

-- A $250 check for all Social Security earners. In May, all Social Security beneficiaries will get at extra $250 as part of the Economic Stimulus bill.

Login to rate this answer: 1 Star2 Stars3 Stars4 Stars5 Stars

    Post a New Retirement Topic or Question  
   
   

Financial Planning Resources from NewRetirement:
How long will your money last in retirement? Spend 10 minutes with our free retirement calculator to answer your questions and improve your retirement financial plan.
Additional Financial Planning Resources from NewRetirement:
Tapping Your Home Equity
Life Settlements
Annuities
Retirement 101: Retirement Planning and Retirement Risks
Retirement Jobs
Debt Consolidation