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Recent Windfall Elimination questions

I have several questions about receiving Social Security

I have several questions about receiving Social Security retirement benefits before I stop working, and before my "optimum" age.JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.Customer: I was born in 1953. I currently work 3/4 time at a job where I was full-time until two years ago. Health issues forced me to cut my time down. I understand I can apply for/get Social Security (at a reduced amount), and any benefit over the "maximum" will cut my benefit further. I also was married for 22 years and never remarried. I'm pretty sure my ex's SS amount would be more than mine, and I was told I should check on that. I'd also like to know if my CalPERS retirement, once I start receiving that, will make a difference in the amount of SS I'm paid. There are more questions, but these are a start ...JA: Is there anything else important you think the Retirement Accountant should know?Customer: Yes. Once I stop working altogether, will my benefit amount be the "full" amount it would have been if I stopped working NOW and applied for SS?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,968 satisfied customers
My social security payment falls under the windfall act

My social security payment falls under the windfall act because out of 23 years there were 6 years that I didn't pay into social security (I had peace officer status for just 6 years). Then for the last 16 years I paid soc sec. Plus state retirement, Because of this I paid quite a lot out each month. So for the past 10 years I haven't been able to receive my full social security payments. I understand this act was intailally written as temporaryJA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?Customer: What can I do now that it's been well over the 6 years thst I fall ino the windfall act, so why is this affectung my benefits for life? Just doesn't seem fair!!!

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Stephanie O Joy, Esq

Managing Lawyer/Advocate

Doctoral Degree

12,172 satisfied customers
I have been approached about taking a job as an interim

I have been approached about taking a job as an interim school superintendent for 1 year beginning in July of 2017. I am currently receiving approx. $2000/month from Social Security. I filed early for Social Security benefits when I was 65. I am now 69 with a birth date in December. My wife is 62 and will continue to work until July of this year. We will delay her applying for Social Security until later. I also receive a pension and my wife will be receiving a pension effective July of 2017.I am concerned that if I take the position my Social Security check will be reduced. What are the financial implications?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,968 satisfied customers
I took early social security at age 62. I was a house

I took early social security at age 62. I was a house husband raising a family over the years, so I worked when I could and went to college and got a 4 year degree. I qualified with enough work credits and received $691.00 per month until this past February 2017 when they cut my benefit by over $300.00 per month. Soc. Sec. sent me a letter and said that my benefits will be reduced under the Windfall Elimination Provision which states that in my working career, I either worked for the Federal Gov't or for companies that were from foreign lands and they did not pay taxes.JA: When we are ready I'll take you to the appropriate web page.Customer: The companies that I worked for were American companies and the taxes were paid. It also said that I get a pension from a company, but I do not. I appealed the case and filled out a formSSA-561-U2 and can't get word of their decision of the appeAL. ***** *****JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?Customer: You are wonderful! I call the Soc. Sec. # and talk to the people there and they keep telling me to call back weeks, but I get the run around! I got the benefits for about a year before they cut them in half in February. I do not know what I can do! I need the money.

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4,374 satisfied customers
I am a retired Government employee who also had 14 years in

I am a retired Government employee who also had 14 years in private industry. I am currently receiving a small social security payment due to the penalty for Government workers. My wife who is not receiving Social Security payments yet as she want to wait until she is 66. She expects that her Social Security payments will be around $2400.00 a month. My questions is that if she should pass away before I do, at the time of her death will I be eligible to receive her payments, (or because of the offset penalty, will I receive a different portion?)JA: The Retirement Accountant will know how to help. Is there anything else important you think the Retirement Accountant should know?Customer: I guess it will depend if he has any questions for me.

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LawTalk

Attorney at Law

Juris Doctor

37,838 satisfied customers
Does a 401A retirement count as income when SS adds up

Does a 401A retirement count as income when SS adds up income for income ceil;ing for 63 yrs of age?JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.Customer: Some retirement is counted as income if from a government agency but mine was from a 401A account so hoping I can stay below the limit imposed due to being under 65JA: Is there anything else the Retirement Accountant should be aware of?Customer: The limit I was given for 2016 - $15,720/yr.

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lev-tax

Retired

Bachelor's Degree Equivalent

25,422 satisfied customers
I live in Texas, I am 68years old and plan on working until

I live in Texas, I am 68years old and plan on working until I am 70. I have used the SS retirement calculator to estimate my benefits. However for 8 years of the 50 years of my working life I worked for the state of Texas and paid into the Texas teachers Retirement fund (TRS) instead of SS. I am eligible for a pension from TRS at the time of retirement as well. I have called TRS and my pension from them is not affected by any other retirement benefits. My question is will my SS benefits be affected by having another pension? I tried calling the SS department several times but have never been patient enough to wait out the long hold times. My SS retirement calculator says at age 70 I will be eligible for $3400 a month. TRS calculator says I am eligible at age 70 for $1700 month. Will there be an SS penalty imposed on me because of another pension?

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LawTalk

Attorney at Law

Juris Doctor

37,838 satisfied customers
I retired from my job at the City of Oakdale in La. on Jan.

I retired from my job at the City of Oakdale in La. on Jan. 31, 2017. my pension check is $1046.38 a month. My social security is $727.00 and I get a check for $546.20 after deductions. What will I get now that I am getting a pension check?JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?Customer: Not that I know of.

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Stephanie O Joy, Esq

Managing Lawyer/Advocate

Doctoral Degree

12,172 satisfied customers
I currently receive a SS ck for my earnings and one for my

I currently receive a SS ck for my earnings and one for my husband whom I haven't lived with for 20 years. I am also a teacher in Texas and due to my health am having to retire this year. I will only receive about 800.00. Will I lose the social security?JA: The Retirement Accountant will know how to help. Is there anything else the Retirement Accountant should be aware of?Customer: Not that I am aware of.

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Stephanie O Joy, Esq

Managing Lawyer/Advocate

Doctoral Degree

12,172 satisfied customers
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