Unemployment Benefits To Be Extended

November 14, 2009

There’s at least a glimmer of hope for people who are currently unemployed.  The Senate voted on Wednesday to extend unemployment benefits by up to 20 weeks for people currently collecting unemployment.  Most states will receive a 14 week extension, but states with unemployment rates in excess of 8.5% will receive an additional 6 weeks, for a total extension of 20 weeks.

People who have already exhausted their unemployment benefits can reapply for additional benefits under this bill.

The bill still has to get through the House and then must be signed by the President, but it is not expected to change much before the final passing.  This is expected to be the last extension for unemployment benefits.

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Kristine McKinley, CFP®, CPA, is the founding principal of Beacon Financial Advisors, LLC, an independent, fee-only financial planning firm located in Lee’s Summit, Missouri and serving the greater Kansas City area.

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In the News

Investment News – Kristine McKinley discusses the 0% Social Security COLA (for 2016) in No Social Security cost-of-living adjustment in 2016.

Kiplinger Magazine/NAPFA – Kristine McKinley answered reader’s tax questions during the 2013 Jump Start Your Retirement Plan Days sponsored by Kiplinger magazine and the NAPFA Consumer Education Foundation.