tennessee – Unemployment Benefits and Military retirement pensions.
I am a retired military person (I served over 20 years.) I receive approximately $2000.00 in Veterans disability and military retirement pay. I currently gross $2000.00 a month with my current employer. I may be losing my job soon due to budget cuts (layoff) Will I be eligible for unemployment until I can find suitable employment? If so, how much? Max
Of course you will be eligible to receive unemployment because of a layoff, but then the concern becomes a question of what may be considered deductible income .. in Tennessee.
The resource for how all states view whether a pension is deductible or not is at the United States Dept. of Labor. (This link opens in a new window. Click the current year and then “Nonmonetary Eligibility).
Beginning on page 34 deductible income is addressed state by state. Table 5-16 is about retirement pay. It says Tennessee excludes pensions if they are not affected by your base period. So as long as you have been retired at least eighteen months .. I should be able to safely assume the branch of the service you retired from is out of the woods as far as any “unemployment liability” for your benefits so your military pension wouldn’t be deductible. The chart makes no mention of disability payments.
If you make approximately 2000 a month, I estimate you’ll get about $230 a week before taxes and a little extra from the feds because of the stimulus. The maximum amount for Tennessee unemployment Benefits is $275 a week.
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