I am 61 and currently work for the state of Colorado and must pay into our PERA program. I have not worked 35 years total (stay at home mom). I only have 8 years with PERA, which is subject to WEP. I have a divorced spouse who is currently receiving SS benefits and to whom I was married for 17 years so can file for his benefits. My question is what is the best strategy with this scenario to maximize my benefits? Collect his benefit, liquidate my PERA account (which will not pay much even if I stay until I am 70).
Non-Covered Pension - WEP / GPO
My wife has a local government pension from her years working as a teacher, and the pension has survivor benefits. I know her social security benefit is reduced by her pension. But if she dies before me, and I receive her pension survivor's benefit, will my own individual social security retirement benefit be reduced? In other words, if I receive her pension's survivor benefit, is it seen the same way as if I had my own earned pension benefit? Thanks.
My wife has a 401a government pension. She paid no Social Security tax for the 17 years on that job. If she retires and dose not draw a benefit until she has to do the rmd at 70, can she receive 50 % of my Social Security from 62 to 70. Then at 70 when we have to draw , and the GPO kicks in effect.
Thank you , Mark
I was born in year 1953 in Czechoslovakia - today a part called Slovak Republic.
I came to USA in 1987.
1/ I am entitled to the minimum Slovak pension of about US $300.00 for work and years of studying there - 1971 -1985. I could start to get this pension when I was 62 years old, I did not yet, but I am considering to start in 2017.
2/ I worked almost 9 years - 1991 -2000 in Denver , CO for Denver Public Schools. At the age of 65 years I am going to start to get pension of about $350.00 from DPS.
Hi Larry: I am age 65 and have received SSDI for past 7 years ($1650 monthly). My wife, will be 66 in Feb. 2017 and her PIA will be $2375. She has 35 years of " Substantial" SS earnings. She recently filed for a restricted spousal benefit, DOB 2/13/1951. Following a 35 year career in private industry she retired and then was employed with a county agency, working 9 additional years. Her OCERS montly allowance is $1900 and began two years ago. We were contacted yesterday by the SSA and informed, due to the GPO, she was entitled to zero dollar spousal benefit.
I will retire from teaching after 25 years in a system that did not take out SS. I am divorced and was married 27 years. I think I can get half of my ex-spouses benefits but I am not sure. If so, will it be reduced by the Windfall Tax or GPO? If I work the last 5 years at a job that does take out SS, will the Winfall/GPO be eliminated from my benefits?
I am 64 and recently filed for Social Security. I receive 1471 monthly from State Teacher's of Ohio Disability/Retirement until July of 2019 if I am still living. At that time it will drop to 750 $ a month retirement only. I had a couple strokes. I had 25 or 26 years paid in to Soc. Sec. They said I will get 620 # month as I lose about half because of STRS Dis./Ret. and the fact I did not pay into SSec. the last 7 years because I taught part time and then full time .They said that dropped my average from what it showed on their website for my retirement.
I am 64.5; I started working at 16 paying Social Security until I took a job with the US Army, as a civilian explosives technician, in 1980. From 1980 until 1989, 9 years, I worked for the Army and then went on to work for the Department of Public safety/State Police as a civilian bomb technician in the Commonwealth of Massachusetts until 1996, a period of 6 years. I moved on, after I’d had enough, to a normal life once again.
My wife is 63 and recently retired from OPERS. She took a plop to reduce her monthly benefit to help SSI because of the WEP provision. Currently she is receiving 1950 month and if she starts collecting SSI at 64 it would be $270. It goes up $21+ a month for every year she waits which does not amount to enough to offset waiting. I am 57still working and am self employed and have not paid a substantial amount into SSI. Not sure how her spousal benefit from me would affect her future SSI. The question being should she start collecting now or wait based on her portion of my SSI.
3 years ago, my husband started in a teaching position that does not pay in to social security. He has spent the last 22 years paying into SS and has achieved his 40 credits. The SS website states that, if he retired now, he would get $1150.00 per month. I understand that the max WEP is $428.00 bringing his benefit down to $722. My questions are:
1) He continues to work a second job that does still pay in to social security ($15,000-$20.000 per year). This will likely continue for 5 more years. How would that affect the WEP figure?