Good news re: the Federal Economic Stimulus Check?

From Ryan Holderman, May 2, 2008
Subject: Perhaps GOOD news!

Dear One & All:

John Curry, Nancy Hamant and I have spent the last few days trying to find out if STRS retirees would receive an Economic Stimulus Check. This was in response to the following item posted on the ORTA website:

"WILL I, AS A PENSION RECIPIENT, RECEIVE A FEDERAL ECONOMIC STIMULUS CHECK?"

Note on the Economic Stimulus Package for employer pension recipients article above: As this is a federal stimulus program, ORTA is encouraging members to contact their Federal legislators - U. S. Senator Voinovich and U. S. Senator Sherrod Brown and their U.S. Representative for further information about eligibility. Also read Stimulus Package: Answers to Frequently Asked Questions Note specifically the question: Q. Is pension income from employers considered income for the Economic Stimulus Package? A. No, pension income is not included in eligible income. [New 4/11/08]The information on the question and answer page was last updated on 4/29/08."

The Economic Stimulus funds were electronically deposited to my account today, Friday. Perhaps this is an indication that STRS retirees will be included.

If you, as an STRS retiree, have received your check, please let John, Nancy or I know so that we can monitor whether everyone is benefiting from this program.

Thanks,

Ryan [holderman@go-concepts.com]

PS: Nancy Hamant's letter follows:

Ryan has received his "Economic Stimulus" payment. Hoorah, it appears Ohio educators have not been across the board excluded from the "Economic Stimulus" payment!

For your information, the questions regarding whether STRS retirees would be receiving an "Economic Stimulus" payment were forwarded to Jeff Hirsh, investigative reporter for Channel 12 in the Cincinnati area, including the information on the ORTA website. Jeff graciously agreed to research the issue.

Jeff talked directly with an IRS spokesperson. Who informed Jeff that the base level for receipt of an "Economic Stimulus" payment was to have filed a 2007 tax form with IRS and if that form indicated income at or above approximately $8700 for 2007, the person filing would be eligible for an "Economic Stimulus" payment which would vary based on income for 2007. Jeff also found out that some of the "exceptions" listed at the IRS Internet site were applicable to help those whose income for 2007 fell below the approximate $8700 threshold.

Kudos to Jeff Hirsh for acting promptly on all Ohio educators behalf!

It is important for CORE to find out from STRS how many of our retirees fall below the $8700 threshold and don't have any of the qualifying factors that would help them receive the "Economic Stimulus" payment. Hopefully, not a great number of retired educators, however, those who fall in category probably are among Ohio's most elderly and would benefit immensely from the "Economic Stimulus" payment.

Nancy Hamant
[ANhamant@aol.com]