I have been teaching for the past 20 years and I'm thinking about making a career change. I would like to roll the money in my TRS pension into an IRA. I would then begin another profession that would have me paying into social security. I already have some social security credits from previous jobs and I would plan on staying at this job for the next 15-20 years. Would I have any issues collecting social security when I retire at age 65 since I was paying into a pension as a teacher (even though the pension would have been rolled over)?
Non-Covered Pension - WEP / GPO
I just turned 70 and retired rrom ministry where I did not pay social security....i have been receiving small ss check for 3 years (590 a month) from work before seminary and pt job while in ministry. Does that ss check go down now that I receive minister retirement? Thanks in advance..
I am essentially in the same position as the person who asked about the WEP and how it might not impact clergy... That link is here... https://maximizemysocialsecurity.com/am-i-excepted-windfall-elimination-...
Can you give more details or a more definitive answer to this question? Thanks!
I did buy your software and ran the numbers. I have a question? My spouse draws Japanese social equity Born 1955 (63)I was born 1957(62) So I her income was higher, I filed Married and clamed her as spouse and there was no difference With WEP if she file on her own or if I claimed her as a spouse me claiming first . I thought you did not have to pay WEP on Japanese social security if she was filed as my spousal benefit .
Thank you for your help
I was told by Social Security that I cannot receive spousal benefit because my retirement from the Postal Service is too much.
If my Japanese wife draws both us and Japanese social security . She has worked in the united states for 20 years and is one year older than me. Her us social security is about $120 more on her own work record than if i claimed her on my social security as a spouse. Can she choose her work history which is higher or can she choose a lower about as on my work history as a spouse? All this to avoid WEP tax . We have not filed for US social security yet . Please advise
My husband's SS will be reduced due to windfall tax but he talked to a man in a grocery store who said he was exempt from the windfall tax due to having worked/lived in rural areas. Is this possible?
Hi Larry, I know my question only applies to 4% or less of people claiming Social Security but has major implications for us, that of course being WEP. I'm well aware that it has been loathed and berated for 35 years. My question is whether with the current raft of repeal bills (H.R 141, H.R. 3934, H.R. 4540 and possibly others) there is any more momentum than there ever was in years gone by. I'm guessing the liklihood of any bill passing is slim to none but haven't counted how many previous bills died.
I am recieving a pension from csrs . I get survivor benefits from my deceased husband who was also csrs. Can I also get my deceased ex husbands social security?
They said no .
Great website with loads of useful information! I have a couple questions about "Safe Harbor" contributions that I hope you can answer. I want to determine whether or not I'm facing a potential 401(a) "horror story"....