Ask Terry Questions Unemployment

Unemployment

By Terry Savage on May 16, 2020 | Financial Planning / Retirement

I receive a cps pension since2010. NowI substitute In the suburbs and Chicago. Chicago is paying me $40. 00 Per week. The suburbs nothing. I made about $6000 combined last year from subbing and $1500 this year. Will unemployment interfere with m y 70,000/year pension?

Terry Says

Unemployment benefits are taxable as ordinary income. But once you get your pension, it doesn’t matter how much more you earn from other sources, or from other savings.

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