Retirement Information and Tips
Most Recent Question and Answer on NewRetirement Answers...
Please help me! I have recently left my job After 21yrs. I have been offered a one time lump sum payout. This amount has changed 4 times within 4 months. In April it started off at 92,000... 4 days later it dropped to 73,000... 2 weeks after that it was 65,000. And not it is 60,000. Is this legal?? I clearly did. It fully understand all this involve the before I left my job to recieve this pension.im pretty much screwed now! Please Advise and rhanks
Asked by someone from Farmville, NC on 9/25/2016
See All Recent Answers...
I believe it is likely to be legal. I would guess that your company needed to reduce its labor force. Once the reductions actually started, they had less incentive to pay as much. If you quit when the offer was a $92k lump sum and the offer was in writing, that's a different situation in which case you might want to contact someone specializing in labor law.
NewRetirement is a new approach for retirement planning – comprehensive, easy, personalized and designed for regular people. We started this company because our own parents needed help with retirement planning and there were not any affordable and trustworthy resources.
NewRetirement’s calculator is designed for anyone who is worried about their retirement – especially people nearing the end of their careers who are in their 50s and 60s. We help people figure out how to draw down their savings as well as think through things like Social Security, income streams, Medicare, work and phased retirement and how to manage debt, expenses and out-of-pocket medical costs to live as securely as possible.
The system puts you in charge of how you want to use your resources so that you can make better decisions about your future.