Federal Stimulus Package and YOU!

Several of our members have contacted KCPSRS and asked, “Will I be receiving a Federal stimulus check?” At this point, KCPSRS has not been able to find anything published by the IRS or other legal or authoritative sources. However, we can offer the following summary and links to several news articles from various sources that may be helpful for the time being.

Summary: “Americans who make no more than $75,000 will receive $1,200, and double that if they are married and making $150,000 or less. Payments start to decrease thereafter, and those who earn $99,000 as a single individual or $198,000 as a married couple will not receive any money. Heads of households have a limit of $146,500. Individuals with children will receive $500 for every child.” Source: Market Watch

Stimulus Checks: Who Is Eligible and How Much Will They Be?: https://www.aarp.org/politics-society/advocacy/info-2020/coronavirus-stimulus-checks.html

I’m retired and claim Social Security — do I still get the $1,200 stimulus check?: https://www.marketwatch.com/story/im-retired-and-claim-social-security-do-i-still-get-the-1200-stimulus-check-2020-03-27

Everything you need to know about stimulus checks being sent to Americans as part of the coronavirus relief bill: https://fortune.com/2020/03/25/stimulus-check-coronavirus-relief-bill-when-checks-sent-who-qualifies-how-much-retirees-taxable-direct-payment-faq/

It will likely be May 2020 before stimulus payments are made.