Detroit Pension Help Deadline Quickly Approaching

Via WNDU, Detroit

????????????????????????????????????????City pensioners have until the end of the year to apply for funding that will keep them from falling below the poverty line as part of Detroit’s bankruptcy.

The state says Tuesday that eligible pensioners and their beneficiaries could lose out of getting assistance if they miss the Dec. 31 deadline.

The special assistance comes from Income Stabilization Funds. Some retirees will see their pensions cut by 4.5 percent as part of the city’s restructuring plan.

Eligibility for the supplemental benefits is determined by age and income. Applicants must have been 60 years or older on Dec. 10 – the effective date of the city’s Plan of Adjustment – and be at 140 percent of 2013 federal poverty income levels. Those levels are $16,338 for an individual or $33,390 for a family of four.

The city’s retirement systems Executive Director Cynthia Thomas says “this is an uncertain time for many people” and the goal is to “provide them with the information and assistance they need in the most expedient way.”

A hotline has been established to offer free assistance with the one-time, one-page application. The effort is being coordinated with the state Treasury Department.

The hotline number is 313-879-4771.

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