It is considered a "lump sum" payment payable to employees who retired prior to 11/23/15 and are receiving a monthly retirement benefit as of that date. Checks were issued on 3/31/16 in the amount of $250 (that amount may depend on your withholding status) and will be issued each year of the 4 year contract. Your retirement status be ether be Normal, Regular Early, Special Early, Late Retirement, or Disablity in order to qualify.