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I was told by a teacher friend of mine that a person is not allowed to take a state retirement AND a federal retirement, and she thought this included Social Security.
My husband has not paid SS taxes while teaching but did work at other jobs before then and does qualify already for a small benefit, plus he will work at another job and pay in more SS taxes after he "retires" from teaching.
So will he be able to collect his SS benefits when he truly retires from working? (please don't make fun if this is a dumb question! )
If one qualifies for Social Security and for a State retirement pension, they will receive both. There is no conflict between the two.
Not necessarily, do you live in a Windfall provision state? I have a teacher pension and my social security (I have more than 40 quarters) is reduced. Trying to avoid double-dipping.
Not necessarily, do you live in a Windfall provision state? I have a teacher pension and my social security (I have more than 40 quarters) is reduced. Trying to avoid double-dipping.
Not sure about the Windfall state, will have to google that.
I believe he will collect both since he paid into SS but it may be a minimum amount depending how much he put into it during the last 30 years.
Teachers who only teach do not pay into SS, but have their own teachers retirement fund, therefore do not receive SS benefits.
People that have earnings and pensions from govt/ state positions where employers did not withhold SS will have their SS benefits amounts reduced. This is explained quite clearly on the SS website.
I believe he will collect both since he paid into SS but it may be a minimum amount depending how much he put into it during the last 30 years.
Teachers who only teach do not pay into SS, but have their own teachers retirement fund, therefore do not receive SS benefits.
Not always. Not every state exempts teachers, or other government employees, from Social Security. I think only about twelve or so do (I may be off on the number). Those are the ones where SS can impose a penalty. As mentioned it's some sort of windfall provision.
I am collecting both a teaching pension (Maryland State Retirement System) and Socal Security with no windfall issues.
Quote:
Originally Posted by ChessieMom
People that have earnings and pensions from govt/ state positions where employers did not withhold SS will have their SS benefits amounts reduced. This is explained quite clearly on the SS website.
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