I'm 68, very healthy, with a history of longevity in my family. I'm receiving a spousal benefit. My husband decided to file at age 66, because his family history is not as good. I receive a reduced spousal benefit and am told I will receive a reduced SS benefit due to the Windfall Elimination Program. No one in the office where I've gone seems to understand this...and I've tried to read and understand it...but it doesn't make sense. The benefit I receive is nominal from a short stint teaching in CA...and the way I see it, that is my money that I contributed and am now due.
Non-Covered Pension - WEP / GPO
I'm age 73 and still work making a meager profit in a couple 1 man businesses. I retired from teaching and took a lump sum to 'wisely' invest, but didn't/couldn't. That began at age 59-1/2. My wife worked, making about 45K a year as an admin assist. Being not wise and naive to boot, I knew nothing of the windfall provision when I filed for the $ benefit at age 68. I was a teacher only about 1/2 my working life, about 25 years, and worked other jobs the rest of the time as well as summers and vacations and moonlighting. Plenty enough SS credits.
Dear Mr Kotlikoff:
I began withdrawing SS at age 62. My wife is retired and receives a state teacher's retirement pension. SS was never withheld from her teacher's compensation. The SS administration says she does not qualify for benefits because she never met the 40 quarters of contributions required, and her pension benefits are too high to allow her to qualify for a spousal benefit. So - are we doing the best we can?
I turned 66 March of 2016. I was receiving SSD and it was automatically turned into my social security retirement benefit at that time. I am going through post maintenance review. And my benefits of $1,992 per month is being calculated as income and is causing me to have to pay $1,700 a month because I have additional income from my state pension which is 4300 a month in the 1700 was being taken out of it. Can I suspend my social security benefits to age 70.
My wife (born Oct. 1952) has been employed as a teacher for over 30 years in several US and international school systems. After ten years of teaching in Texas, she took her Texas Retirement System (TRS) amount of $604/month when we moved out of state for new employment. Some of her other employment settings contributed to Social Security and she now has 37 credits.
I'm 53. Wife 48. Both work for State agencies. I have 17 years in pension fund, wife has 1 year. I'll be 61 in 8 years, that also my 25th yr & can "officially" retire from job w/pension & healthcare benefits. When should I take my SS benefits? Thank you. John