Lay off in Kentucky

[clymber]

In a few months I'll be laid off here in Kentucky. I'm 65 and drawing a pension from another company. I've worked for this base company (the one I'm getting laid off from for 7 years). I presume, my pension (from another company) will not affect my unemployment benefits. Thanks!

 

[Zigner]

In a few months I'll be laid off here in Kentucky. I'm 65 and drawing a pension from another company. I've worked for this base company (the one I'm getting laid off from for 7 years). I presume, my pension (from another company) will not affect my unemployment benefits. Thanks!

You will need to report all income and the state will determine how it affects your unemployment benefits. I would suggest that you speak with the folks at the state that administer the UI program and discuss your concerns with them.

 

[FlyingRon]

Private pensions WILL reduce your benefits.

 

[cbg]

Whether and how your pensions will affect your unemployment is state specific. I don't know Kentucky's view on the matter.

 

[commentator]

It is pretty much a safe bet that since the employer you are receiving a pension from is not a base period employer, the pension you are receiving will not be considered wages and will not affect your unemployment benefits. It would be hard to call the department up now, before you've filed the claim and get them to give you a definitive answer. They tend to want to look at a specific situation individually before they give you a positive yes or no answer and that has to be done after you've really filed the claim.

So you can sort of assume it won't count, but DO report this pension right away when you file an initial claim, so a "pension decision" can be made at the very beginning of your claim and there will be no delays in your receiving benefits.

You could also draw your Social Security retirement benefits while drawing unemployment benefits, as long as you do not remove yourself from the work force, continue to make the required work searches and continue to state that you are able, available and actively seeking employment. Be sure and discuss all these things with the workers at the Kentucky unemployment system. Assume nothing without running it by them while you are filing the claim.

 

[clymber]

It is pretty much a safe bet that since the employer you are receiving a pension from is not a base period employer, the pension you are receiving will not be considered wages and will not affect your unemployment benefits. It would be hard to call the department up now, before you've filed the claim and get them to give you a definitive answer. They tend to want to look at a specific situation individually before they give you a positive yes or no answer and that has to be done after you've really filed the claim.

So you can sort of assume it won't count, but DO report this pension right away when you file an initial claim, so a "pension decision" can be made at the very beginning of your claim and there will be no delays in your receiving benefits.

You could also draw your Social Security retirement benefits while drawing unemployment benefits, as long as you do not remove yourself from the work force, continue to make the required work searches and continue to state that you are able, available and actively seeking employment. Be sure and discuss all these things with the workers at the Kentucky unemployment system. Assume nothing without running it by them while you are filing the claim.

Thanks, another wrinkle in this is... the lay off is due to plant closure because of foreign competition. This should qualify us for Trade Adjustment Assistance (TAA), which would help with additional training and perhaps extended unemployment benefits.

I turn 66 in the Fall and may wait until then to apply for Social Security so I can fully withdrawal then.

Any additional information will be deeply appreciated!

 

[commentator]

At your age, (young like me!) you may be able to get a waiver to still receive some of the Trade Adjustment Act benefits even if you are not in training. These extended benefits do not kick into force until you have drawn out all of the regular unemployment and any federal extensions that may be in effect at that time. (That's none, right now!)

But if you could get into and could profit from any type of training, for example if you did not have your high school diploma, or had always wanted to learn welding or become a health care worker, it would really extend the amount of time you could receive benefits. One of the most enjoyable parts of my work life was when I could help people who had lost their jobs through this program go back and obtain their GED's or retrain for other types of work. I had one person I worked with who obtained her GED certificate when she was in her 80's. She was exceptionally happy about it, and we were all very happy for her. It also set a wonderful example of the value of education for her grandchildren and great grandchildren and the other people in her classes. Good luck to you on this new part of your life.

 

[clymber]

At your age, (young like me!) you may be able to get a waiver to still receive some of the Trade Adjustment Act benefits even if you are not in training. These extended benefits do not kick into force until you have drawn out all of the regular unemployment and any federal extensions that may be in effect at that time. (That's none, right now!)

But if you could get into and could profit from any type of training, for example if you did not have your high school diploma, or had always wanted to learn welding or become a health care worker, it would really extend the amount of time you could receive benefits. One of the most enjoyable parts of my work life was when I could help people who had lost their jobs through this program go back and obtain their GED's or retrain for other types of work. I had one person I worked with who obtained her GED certificate when she was in her 80's. She was exceptionally happy about it, and we were all very happy for her. It also set a wonderful example of the value of education for her grandchildren and great grandchildren and the other people in her classes. Good luck to you on this new part of your life.

Thanks for the additional information!

I have two degrees but training for something different would pique my interest especially in helping others.

Also, my Dad's getting on in age and this time will give me more time to spend with him.

 

[commentator]

If you already have degrees, be sure you check with and work with your TRA consultant very carefully if you are interested in retraining. They have to justify the training they approve, and sometimes, if you do have a degree already, it's tricky to show you need additional training to be more employable. Make sure the training is something they can approve. Just sayin'. I hope it works out well for you. I myself used provided benefits to be retrained for certification as a mediator after completing a long spell of state employment, and reaching what many consider retirement age, and have really enjoyed it.