Teacher's Retirement & Social Security [Complete Guide] | Devin Carroll
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- Опубліковано 9 лют 2019
- If you're a teacher (or other public servant), you've probably seen lots of conflicting information on the topic of Social Security and Teacher's Retirement. There's no denying that it's a complex issue, so in this video we'll take a closer look at the Windfall Elimination Provision and the Government Pension Offset (the two rules that apply to those with a pension from a job where they didn't pay into Social Security). Additionally, we'll dive into a few ways to get around these rules.
These rules are not necessarily limited to teachers, but can also include firefighters, police officers and numerous other state, county and local employees.
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Thank you so much Devin. You are the only one I have heard on UA-cam that explains the GPO Offset EXEMPTION. This is huge for me! I never knew there were education systems that paid into both TRS & SS. Thanks to you, I found a university close by that pays into both and I have an interview next week! Wish me luck🙏. Many thanks!
How did it go???
Thank you for this. When I try to tell people the predicament I'm in with the WEP and GOP (lucky me falls into both of these without substantial income while working part time to earn my degree, raise a family, and help care for an elderly parent), they look at me and say this makes no sense. You paid into both systems, you should be able to get your full amount from both systems. I agree with their conclusions, but until the WEP and GOP are reversed, here I am stuck in the middle. It is my punishment for going back to school when the state was crying for teachers! When I graduated, they were laying teachers off! UGH! Anyway, I decided to retire last year. Now I at least have a video to share for those who look at me like I'm crazy when I tell them this exists.
The government makes this way more complicated than it has to be.
Excellent presentation. There's no point in being the richest person in Forest Lawn mortuary. You can't take it with you. I have known too many people who prematurely died worrying about saving as much money as they could for retirement and never enjoying it. The whole point of retiring early at 62 is to enjoy your retirement.... that's it. So, when people say, yeah, I'll be getting more money when I'm 78, 80 or something, I have to ask.... will you have enough energy or be in excellent shape to enjoy it? Maybe they will, but, you just never know. My advice is, enjoy your retirement earlier, be thankful that you can retire and use the money now while you're young enough and have energy to do this.
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i recommend Stephan Briggs
his t e l e - g r a m
I worked for 17 years in another field full time. My maximum amount they will take out I think is 500 dollars less. I calculated in future dollars with a retirement age at 70 and I would get 1700 which would cover my mortgage. Our government really hates teachers.
Yes it does. In Texas we are considered to be the sludge on the bottom of the elected officials shows, yet teachers keep voting for these same people over and over again.
GPO is a nightmare for my wife. She is a teacher of 18 years, no social security payments. I paid into social security. We are both retired and getting social security. TRB answers are not consistent and Social Security Office requirement for documentation from TRB to determine GPO leaves us unhappily in the middle. Social Security rules say that GPO will not penalize a teacher if her pension is not based on earnings. Here is the question. Why would a teacher's investment in her own gross pension be factored into GPO and thus reduce her Social Security payments? Investments offered such as 1. Cash to purchase a supplemental annuity at time of retirement 2. Cash to buy additional years of service at time of retirement 3. Voluntary contributions to a fixed annuity account while working based on 1% pretax investment from her salary.
In many counties in the SE, you pay into a pension plan ( well we all did back in the day before they changed things ) AND we paid in to SSA.
Whaaaaaaaaaaaat?? I have just seen half of the video and I do not want to listen to you anymore, and please Mr. Carroll don't take it personally....believe me it's not you!! It's what I am finding out that is making me extremely upset. It is the knowing how the government screws all of us teachers that has me upset. All teachers, every single one of us should all be treated with an utmost respect by the government. I am in shock!! What about all those children that became YOU, (financial advisor), doctors, lawyers, teachers, what about all those years of frustration, stress, not sleeping, not being with family.......
For what? All of our dedication, to be treated like if we had never worked one day in our lives. For us to receive at the end not even a kiss on the cheek, Why go to the university? Why tell our children to go to the university and better their lives if at the end they will be better off living on welfare and from the government. I am sorry...not sorry!!
My neighbor who stays home as a housewife (my utmost respect to her) but she will be living a more decent life on her husband's retirement than I will. Sad, Sad, Sad situation of mine. May God be with me when I retire.
I'm still confused 😒
Thank you for this.
Devin thanks for educating educators. Here is my question. I have covered and uncovered teaching years in the same TRS. I left country in 2011 to teach overseas for 7 years but received no pension there. Five years prior to leaving to work overseas I worked in a covered position. I returned in 2019 and worked that year in the same district which was covered. I retired in 2019. Am I exempt from GPO? Thanks
DAVID is it basically simply better to work in a state as a teacher that has a pension and deducts SS?
Devin, my wife teaches in Kentucky, paying no SS. However, before moving here, she taught 11 years in SC and TX, paying full SS, and for the past 19 years, she has taught in a summer program that withholds SS taxes. When she retires, will she be able to get any of that back as a benefit?
If I knew now what I knew then, I would not be a teacher.
that's disappointing to hear.
It’s true, teachers have the worst retirement.
Hi Devin, from my understanding of the WEP. The max an individual can receive after being vested in TRS or any other public service pension plan is 90% of their SS Benefit. Please clarify.
My planned workaround is to take Social Security first, then retire later, several years later, from my teaching job. Between those two events, since WEP doesn't apply until I receive my teacher pension, I will not be hit with the $364 per month penalty. So I'll be better off $364 times the number of months between the events.
Is this a thing? Like would it work?
@@elizabethethredge1496 Yes. Only the Social Security amount is reduced by the WEP and WEP does not come into play unless and until you start receiving your non SS public service pension.
Nice 👍my step dad has also suffered from that during his retirement days
Suppose the W-2 form shows that 6% of total income went into Social Security (SS) tax withheld. Will the FULL TRS annunity plus SS be given? Or is the SS amount subject to the WEP. Thank you.
You did not mention anything about how Texas teachers who retired prior to July of 2004 could possibly use the “last day” exemption for the GPO if they met the requirements.
Great video, but I have a question. I am a 56 year old teacher with an STRS/no social security. I will retire at 64. I paid in to SS prior but did not meet the 40 quarters. My husband is 70 and will start collecting his SS benefits next month. Because of GPO, would it make sense for me to start collecting spousal benefits at 62?
I worked for 1&1/2 years for Texas State Technical College, 18 years for Texas Juvenile Justice Department, and 1 full year at Wacoisd. I plan to retire from ERS. Can you tell me any pitfalls I would have when I get ready to retire?
Can you tell me where I would go to find the latest "max" for SS payment? It says 2019 was $463, but I'm wondering what it is now. Also, would that change each year or are you stuck with the number you get at retirement?
I have a usps pension that is fers offset and hope you are correct on the workaround rule because I believe I have about 28 substantial years of ss paid into so this will cut down the wep penalty a lot.
28 years will nearly take care of all of it.
Hi Devin, I am a divorced and single public school teacher of 15 years (5 as an Assistant). I am 52 now. I paid into the SS system for about 15 years prior. I was a stay at home mom for a few years as well. Because I got into teaching later in life, I will never get full pension benefits. I have no debt or assets at this time. Is it at all possible for me to retire at age 55? I think that I am now burnt out of the teaching role.
David, I got confused toward the end. At 7 minutes in you started explaining the GOP and that it does not apply if you started in a district that did not pay into SS but finished (under the same TRS plan) with at least 60 months. At the 10:55 mark you started explaining the mixed earnings situation and that the GOP would be pro-rated. Is that because it was in the reverse order (he finished at a district that did not pay into SS), so the last 60 month rule did not apply?
I worked my first 20 years in a GA district that did not pay into SS, but I am about to finish 12 years in a GA district that does pay into SS. I am retiring wiht 32 years total. I think I have avoided the GOP penalty. As for the WEP, I have 16 years of substantial earnings (4 before I began teaching & 12 in my current district). I plan to try to earn 10 more years of substantial earnings before I apply for SS benefits, which will give me a total of 26 and a smaller penalty. Am I correct?
Thank you for the informative videos and your detailed explanations. I am 51yrs of age. have been a homemaker raising children for 26 of those years while having a home based childcare business for 9 of those 26 yrs. I’ve paid little into social security. I am completing my bachelors degree currently and hoped to go into education. I’m now concerned with the retirement aspect of that. In Texas there is a yrs of service/age requirement to equal 90 before you can draw a retirement.At this age would I benefit at retirement age being a teacher
Thanks for a great video Devin. I am 58 years old, have never worked as an educator in Texas before. I have been contributing to SS for 40+ years. This year, I'm starting as an instructor for a state college that offers TRS. If I start in TRS now and retire at age 65 or later, have I earned enough credit with social security so as to not be docked any monthly income related to what I'll get from TRS?
Don’t do it
If My wife worked over 30 years paying social security and 4 year as a teacher paying no social security in Illinois. If she withdraws the pension entirely will it affect her social security benefit? She is 77. Years old
What if you file for PERA disability with 6 years there and then can you file Social security disability which you worked for 20 years. How would that all affect the payments?
I have worked at texas public schools for 38 years and get a pension from TRS. I have now worked for a district in New Mexico that has a pension plan and also contributes to SS for 14 years. I started taking SS at the age of 65.5. And it is only 460.00. Is there any way I can qualify for more earnings from SS? I had many part time jobs that also contributed to SS
I worked in private industry for 20 years and then as a teacher for 20 years (still worked in private industry during my teaching years). When using the SS calculator, is there a way to identify you as a teacher/educator/government employee so that your benefits are accurately calculated.
You have made a vital approach
Anyone here who can help to what John has said ?
The 60-month rule of working at a district that pays into both is NEW to me. Where can I get more information about this please?
The "substantial" rule in S.S. sucks! My early years were very low paid, so therefore not "substantial" as I relied on tips and cash.
I was a teacher in Oklahoma. I paid into the Oklahoma teacher's retirements system AND paid social security the entire time I worked. Is my social security benefits subject to these penalties? I worked for 30 years.
No
Hi Devin, Read your book Hero’s Penalty and need clarification re GPO. U have example of teacher working last 5 years in AISD which pays SSI. U state need to work for entity which pays SSI, however, also need to work for same pension system, e.g. TRS? So higher ed, community college also in TRS. Is that correct? Do you also need to get SSI yearly credit per substantial earnings guide as well?! I’m currently in the zero survivor benefit scenario. Thks
For the GPO exemption, your last 60 months must be spent in employment that is covered by BOTH TRS and SS. It can be a school district, community college or any other employer that participates in both plans.
I'm currently not teaching, due to caring for my spouse who passed away. I receive spousal survival benefits and retirement from 2 other pensions. I have not begun taking my teacher retirement due to confusion about the ss penalty. How long can I put off taking a pension from the teacher's system in Texas? Do I have to work some amount of time?
What if you have 2 jobs, one strs and one that pays SS. AND you had a SS paying job up till age 40 prior to the STRS job. Since WEP is intended to make up for the lask of SS contributions while on STRS, wouldn't the second job negate that ?
This is a thoroughly confusing topic ... it does apply to me and I will be retiring on Social Security next year. Any advice on HOW to initiate claims? Which fund (PERS or Soc. Sec) .should be tapped first?
I am thinking about applying for my TRS pension (for which I qualify for TRS full retirement benifits) and I have been working the last 60 months in position that I have paid into the same pension plus paid into social security as well for the last 60 months (note I also have at least 30 years total combined that I have paid into social security but I have 18 years paid into TRS pension only). Will the 60 month prevision apply for me or how will the GPO apply to me for my spouses survived benifits.
Will GPO effect my social security income as a survivor of someone who had a reduction by WEP
Devin have question just received letter owe IRMAA a monthly PENALTY because of my gross income. I am a retired Fire fighter and dint pay into social security and receive a pension. I did work before Firefighting and paid into social security. A few years near the end of career I paid Social Security tax (not as Firefighter). I do get about $138 in social security and this is paid toward my medicare and then I have to pay the rest along with part B and part D. Now I have to pay IRMAA because I am On medicare? They are using my pension as FF toward my gross income , is this correct even though I don't get social security from that income?
Hello Dan this is very confusing, I’m 61 now and receiving a government pension for the last 8 years and at 62 I want to apply for my pension is this a wise idea
I served in the military for 12.5 years as well as retired from a school district that did not contribute to Social Security. Do the same rules apply for military service to determine substantial earnings?
Liz Roddey Active duty has paid into SS since the 50s. Reserve since 1988. Those earnings count just like private sector.
Devin, sorry, I didn't word my question correctly. I had read somewhere that if you served in the military, that the WEP wouldn't-t apply to you. Is that information correct?
@@Lizroddey There is a provision that would exempt you from the WEP if you have a pension from military reserve service between 1957 and 1987. See secure.ssa.gov/poms.nsf/lnx/0300605383. All service in 1988 and later was 'covered' for SS purposes. Important to note that this rule was for individuals who would be subject to the WEP because of their military pension.
What if you worked half your life and have SS benefits. Then at 46 in FL you become a teacher and work until retirement - what happens then? Think they let you now choose pension or regular 401k is my understanding and pension is not mandatory .. is that right ?
Thank you Devin for this video. My wife is a teacher here in Texas and will retire in December.
We paid a TRS/SS expert to go over our retirement estimations and she explained how SS will be reduced for my wife, greatly, for the years she worked paying into SS.
I was upset about that but my biggest concern was the survival benefit that is rightfully mine/ours on the money that I paid into SS, that for some reason SS will not pay her upon my death. This infuriates me to no end, that's money is due me but the government will steal it from my widow!
Is there any movement happening to correct this?
Can you explain their thinking of how they think it's better to keep the money that I earned and we both sacrificed for and will help a widowed teacher, and use it for Lord knows what?
I wonder what the incentive for being a teacher is in their eyes.
Can you share contact info for the TRs/SS expert you found?
Devon I have some money in California State Teacher Retirement system but not vested for pension just for withdrawal. I have 7 years in Arizona state teacher retirement. I am going back to work full time as a teacher. I dont know if I should stick with Arizona State teacher Retirement system or go and get some pension points from a different state. I know better then to go back to California state teacher retirement system. Do you have any ideas for me?
You jumped too many times fast from the WEP to the GPO. It wasn’t clear about the WEP because abruptly you jumped to the GPO fast and without warning.
With all due respect, PLEASE do not criticize this man! May I’ve try suggest to pause and repeat, as well search Mr. Carroll’s other videos for the topics on which you are unclear.
I have been seeking this explanation from Certified Financial Planners for more than 5 years, and not one person has been able to explain or refer me to anyone. During this time, I have watched Mr. Carroll’s WEP videos repeatedly, along with his other topics. After multiple views over these past years, I’m finally beginning to understand. Coming from a very ethnic and immigrant background from which I learned zero about career and financial life, am very thankful for your messages Mr. Carroll.
My wife has been working for an Illinois University for the past 15 years. But instead of opting for the State Pension Plan, opted for an individually managed 403(b). Is this still considered a "pension" in the eyes of the SSA? She has not paid SS taxes via this employer and only has about 8 years of substantial earnings according to the WEP PDF you linked in your description. Thank you in advance, Devin.
Most likely...yes. Look at section 3 on this page secure.ssa.gov/poms.nsf/lnx/0300605364
This is good but i think your wife is on a safer side
Is this still in effect? "Anyone who applied for spousal or widow/er Social Security benefits before April 1, 2004, can gain exemption from the GPO by working their last day before retirement in a position covered by both Social Security and their government pension system (TRS)." I drew on my husbands retirement in 1980. So.....?
Sorry, I did not see the link to the online calculator, could you provide that link? Thank you.
Just found this video...would have like to have seen the calculator too...
Hello Michael
David, I am so confused, I think my exhusband was receiving like $2000 and I was getting $830 from his. I was a teacher and I had a retirement/disability. I did not know that I was not able to receive two retirements. Now they sent me a letter that I owe lots of money for overpayment. Not my fault, and I cannot pay that money. Any suggestions?
I used the WEP calculator and it would not let me enter the correct number of years of substantial earnings-When I clicked on the box it had a "1" in it and I could not enter the correct number-27 even though I had spent over an hour entering in my yearly income in all the boxes for the 27 years I paid into social security.
Hi I am a divorced, and working for TRS for past 6 years. Previously I worked and paid SS benefits, worked 23 years and paid ss, have enough credits, however, I still work part time, and paying ss but not much, I need to find out how it is going to affect my SS, I am 64 now, still willing to work for school district, and in retail, my spousal benefits are going to be higher than my ss benefits, if I retired at age 69 it will be 10 years of TRS.....is it going to reduce my monthly payment of pension? Should I start collecting my ss now and continue working both jobs, retail and School district, and switch spousal benefits at my full FRA age? Also a my spouse is not collecting his benefits, waiting till 70 . Do I get half of what he gets at age 70?
My mom passed away recently and she was retired, I believe for about the past 10 years and was drawing a pension from TRS in Texas. Her spouse has been gone for over 20 years. I have three other siblings. My oldest brother received a packet from social security, wanting information from all of us like, spelling of our names as its on our ss card birthday and address. My question is, are there any benefits due to be paid out to my mothers surviving children. from TRS or social security . Thank you for your help
Did y'all get the $10,000 death benefit (taxable) from TRS?
Why? The "why" is rarely included in discussions of WEP & GPO. Most folks know that income tax has bracket, higher income pay at a higher marginal rate. It is unlikely that anyone at a lower tax rate would want to pay a higher tax rate, right? Realize that SS is similar but reversed.
In the calculation of PIA from AIME, there are three brackets, 90%, 32%, & 15%.
As AIME increases, it moves from the 90% toward the 15%, so the higher income person has a marginally lower benefit. For example, the $12K/year person ($1K/mo) would get about $900/mo PIA, but the $120K/year person ($10K/mo) would get about $2,200/mo PIA; 10 times more paid into SS, but only about 2.5 times the benefit.
Consider the person with both a non-SS job and an SS job. While not contributing to the SS bucket for the non-SS work, the middle class non-SS worker earn a pension and they deserve it. But when they do minimal SS paying work, they have a low AIME and look like a very low income person, not at all like the middle class person they really are.
For example, a 10 year $60K worker (so 25 zeros for the other years while they worked in a non-SS job) looks like a lifetime $18K/yr worker that would get $1060/mo PIA. But include that $60K after their non-SS income as if it were taxed for SS and you get something like $560 of additional PIA.
So without WEP, they would appear to be a low income earner and receive a disproportionally large benefit. With WEP, the mixed SS person is moved along the AIME-PIA curve to a point reflecting their true income. If the AIME-PIA curve were flat there would be no need for this.
AIME is effectively the inflated average lifetime monthly income, but is calculated over your best 35 years. Take all of your prior incomes, index them for inflation, select the best 35 years, add those, and divide by 420 (months in 35 years). PIA is your benefits (at FRA). And FRA is Full Retirement Age.
Regards.
I worked 30+yrs and have my full points w/ SS, and have taught the past 8 yrs contributing to TRS… keep it simple for stupid here… do I get my full SS benefit and TRS or is something reduced?
Oh crap! I just hit the magic number 3 months ago to qualify for retirement with TRS. Not wanting to deal with WEP and GPO, I was hoping to withdraw my own contributions from the past 19 years, and not retire with TRS. According to your video, it doesn't sound like I'll be able to avoid WEP and GPO now that I "qualify" to retire. I'm only a Para, so my pension will be really crappy at $1100/month. If anything happened to my husband, I'll be sitting in the poor house by the time WEP and GPO take away all Social Security benefits. I do qualify for about $850/month from my own Social Security benefits, but would get quite a bit more with Spousal benefits. Now what??? Hubby and I are both 62.
Withdraw from a 403b account. I’m a pension specialist who work with teacher retirement pensions.
My spouse will retire from railroad and I will retire w a teachers retirement. We both worked and paid into ss for 20+ w other jobs. Where should we go for more info on this scenario?
Oh wow! You've got the dual offsets impacting you. I've never consulted on a case with both RR retirement and TRS. I'd like to get involved. Here's the page on how to hire me. devincarroll.com/hire-devin/
I thought I was being clever by rolling over my TRS pension of 11 years to a 401k in order to get full survival benefits and (newly learned) spousal benefits...but what I am hearing from you is that only my contributions will be rolled over and my SS benefits will still use the windfall and GPO rules. You mentioned that rolling over to a 401k is not a good idea. Am I making sense and hearing you correctly. Thanks, Debbie
I would think that a person with a defined benefit retirement plan would not so much be interested in the cash out value of the plan but how much the plan will pay at retirement. I gain 2 points per year as a school employee. Simple math...30years x 2=60% I retire with an average income of 50k 50k x.60% = 30k per year income or 2500.00 per month. If I had 600k drawing 5% from a bank it would pay 30 grand as well. Most people don't have 600k and I doubt if people who do are drawing that kind of interest. 600k in a 401k would be rare in the world I live in but I guess some people might retire with that much which could be annuiitized. In my opinion, a government defined benefit pension plan is absolutely a great retirement plan for middle class folks for many reasons. Your retirement is safe and guaranteed and the bottom is not subject to fall out of of it like a 401k. By the way...the 401k is Americas big lie and was never intended to be a stand alone retirement plan but actually much like a golden parachute for top company executives. This is why very few private companies have defined benefit plans. Using 401k plans instead of defined benefit plans relieves them of future retirement responsibilities.
When you married does your TRS get taxed in Texas???
Hello. Question. I am almost 65. I retired last year from TRS after working 18 years and I earn 1950.00/month. I had previously worked paying taxes with Social Security in and out and I only have accumulated 24 points with Social Security. What do I need to do to avoid getting penalized ? I believe I'm healthy and really don't take medications. So the idea in mind is to try to pay the least ammount on health inssurance do you have any advice for me? Thank in advance.
Q
If you only have 24 credits you DO NOT QUALIFY FOR SOCIAL SECURITY RETIREMENT BENEFITS. You must earn 10 years = 40 credits to qualify 😉.
You won't get anything.
So don't worry.
Thank you Q
Hello,
I have been a teacher for 31 years in California and plan to retire after 32 years. I have also paid into SS through my 33 years of reserve military service for which I am receiving a pension. (And other odd jobs when I was young) I have never considered SS in my retirement plans however I want to know if I will get something and if so, will it be reduced? My wife also qualifies for SS and she will only retire from teaching after only 5 years so her pension will be very small. My CalSTRS will be close to $6k/month and I have opted to take a reduced amount so that my wife can get 100% of my pension when I die. She will automatically receive 55% of my military pension when I die.
This is bravery at the peak
You are good for the best husband ever
I am retiring from the school district 43 yrs but i have been getting social security for two yrs how is that going to effect me from yrs i will be getting 1666.00
i was receiving my teacher retirement and then my social security from my ex husband. I did not know that I was not allowed to receive my two retirement. I received $39,000 overpayment and now I have to pay it back. I have not able to find an attorney. I do not have that money. What can I do?
Sylvia, I agree with you-it made complete sense to me that you should get your retirement and your husbands social security survivor benefit. See if you can find a senior center near you that can help you find a low cost attorney who specializes in helping elderly issues. I am afraid to apply! I have a small retirement but paid social security for 15 years in non-educator jobs. I cannot find a clear answer on if I can collect both and am fearing the same issue you having. I cannot find a clear answer on if I am entitled to both. I wonder does that 15 years paying into social security just go down the drain because I worked in education the other 30 yrs?
What will happen if the wife pays into social security but gets in divorce 1/2 pension from the teacher's retirement that he did not pay any social security. Would the allowance be received from the ex-husband person with her social security benefits?
could not find the calculator
Hi Devin, I am a Firefighter in Massachusetts. I have always had a 2nd job that I pay social security tax into, but some years I did not make enough to meet the substantial earnings amount. Can I combine those years to make one good year? Thanks
No. It's on an annual basis.
Thank you
@@thomashall6937 It sucks!
I am a teacher who has 23 years teaching in CT. I have been receiving social security benefits from previous jobs since the age of 66. I am now 70 years old, and would like to retire. I would like to know if there is any credibility to the saying that my social security benefits will not be affected because I am 70 years old.
Noted!
Anyone who can help Andre
Come on he’s quite old
This is ABSOLUTELY byzantine !!!!!!!
A
My daughter is a school teachers California ... she won’t get SS she has a pension she was telling me she doesn’t pay in for SS
God help us
By BL- Hope Wisconsin teachers are happy with Evers making a bill that you work til your 59 1/2 before retiring. 😆😆😆😆
I retired from TRSL.ss benefits were taken out but stopped. When I retired after 38 years I didn't have enough quarters or paid tax
I was told by ss if I worked 6 more years I would have enough quarters so I worked 6 more years got the quarters at that time I was 66 years old and was told I couldn't get benefits due to my pension. Later I was told I qualified but for only 300.00 with 138.00 for Medicare. I don't believe that is correct if they calculated the amount from what I would have gotten if I wasn't receiving a pension. What should I do?
My wife works as a Teachers Aid and will receive a pension next year that will be calculated base on the rules of WEP (GPO would be less). That said if I were to die first would she be entitled to the larger of her pension or Spousal Death benefits (in our case would be larger than her pension - WEP)?
If you die first, her teachers pension would continue and the Social Security survivors benefit (roughly the amount you were receiving) would be reduced by an amount equal to 2/3 of her teachers pension.
Devin. I am a 62-year-old retired TEXAS teacher collecting my TRS annuity monthly. I worked for 40 quarters prior to teaching school. I am considering taking my social security now. (at 62) OF COURSE I am receiving a reduced amount because I receive TRS. (WRONG!). So... how will this affect my income tax?
Can I ask you Coleen how are the service credits calculated in Texas- I am 51 considering being alternative certified to teach, I know the TRS requirement is 90. Would that mean I have to teach until I reach 90? Or are credits not based one credit per year?
Why so complicated people who can’t work why not give them enough t survive stop giving rich people money 💰 simply help people who need help
Not a teacher ! Ex military spouse !
My wife gets NO SS. She has very few quarters she accrued before going to college. She gets nothing. On top of that, she can’t collect my SS as survivor benefits.
The GPO at work. I know it's maddening.
Explain to me why I am being penalized when I paid into Social Security. I am a higher education educator and for 17 years I paid into social security and I also worked as a nurse. So why will I not receive both my pension and social security.