Salary Reductions/Retirement Benefits

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Salary Reductions/Retirement Benefits

I’m planning on retiring in April 2010, how will these salary reductions affect my quoted monthly retirement payment. And and when monies are reinstated will it be retro and if so would I received the reinstated funds after I’ve retired…

Asked on June 19, 2009 under Employment Labor Law, California

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

For advice that you can rely on, you'll need to take the retirement plan description to an attorney in your area.  There are other facts that he or she will want to know as well.  One place to find a qualified lawyer is our website:  http://attorneypages.com

One of the things that might matter is if the salary reduction was "officially" just temporary.  But I very much doubt that, if your pension is reduced because of that reduction, having the old rates reinstated after you retire would benefit you at all.


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