En español | Q. My company's been struggling and now there's talk that it's heading toward bankruptcy. What does that mean for my pension?
You might not get the total amount of your promised benefit, because of maximum limits set by law. But now, for the first time since 2009, those limits are about to be raised.
Beginning Jan. 1, a 65-year-old retiree can receive a maximum of almost $56,000 annually, an increase from $54,000.
The amount retirees collect is based on a formula in which people older than 65 get a higher amount and those who retire earlier or choose survivor benefits collect lower amounts.
Also of interest: Pension in peril. >>
Carole Fleck is a senior editor at the AARP Bulletin.