U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-18-2017, 12:40 PM
 
Location: NC
6,561 posts, read 7,986,401 times
Reputation: 13465

Advertisements

Age might not matter as long as she has worked long enough that she qualifies for the pension plan. Basically she will get some of her pension early and later it will be reduced, if she can prove to them that she will qualify for social security money after 62. If she would wait until her full retirement date at the company she would have a higher amount coming in, but the company calculates it out so that you get the same total before soc sec (only pension) as after (pension plus SS).

But she will need to meet some criteria at her company, probably the number of years she has worked for them. In the old days if you worked for an employer for 30 yrs you got access to some of these options.
Reply With Quote Quick reply to this message

 
Old 05-18-2017, 12:41 PM
 
7,801 posts, read 4,391,333 times
Reputation: 11594
He said nothing about having to be 55 or older; in fact, he said that the younger you are when you retire (we have people retire in their 40s here), the more sense this option makes.
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 01:15 PM
 
71,630 posts, read 71,777,271 times
Reputation: 49225
there is no social security adjustment option for an early ss benefit . -period .

Social Security Adjustment Option (Level Income Option)
from Glossary of Current Industrial Relations and Wage Terms (1965)
by U.S. Department of Labor, U.S. Bureau of Labor Statistics & Federal Reserve Archival System for Economic Research


Pension plan provision under which a worker eligible for an early retirement benefit may elect to get a larger plan benefit than is actually due up to the time his social security benefit is payable, and a smaller benefit thereafter, so that a level income is maintained throughout retirement.
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 04:07 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
Reputation: 9854
Quote:
Originally Posted by otterhere View Post
He said nothing about having to be 55 or older; in fact, he said that the younger you are when you retire (we have people retire in their 40s here), the more sense this option makes.
Does he work for SS office. This doesn't make sense otherwise a lot of people will be taking them.
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 05:05 PM
 
71,630 posts, read 71,777,271 times
Reputation: 49225
there is no such thing pertaining to getting ss early . it only has to do with pensions laying out money up front .
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 05:06 PM
 
71,630 posts, read 71,777,271 times
Reputation: 49225
Quote:
Originally Posted by otterhere View Post
He said nothing about having to be 55 or older; in fact, he said that the younger you are when you retire (we have people retire in their 40s here), the more sense this option makes.
i would not bother listening to advice from this person , they are clueless as to what is transpiring
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 05:19 PM
 
Location: NC
6,561 posts, read 7,986,401 times
Reputation: 13465
Quote:
Originally Posted by otterhere View Post
He said nothing about having to be 55 or older; in fact, he said that the younger you are when you retire (we have people retire in their 40s here), the more sense this option makes.
If that was true why not retire after your first 6 months? This fellow and your friend have their facts messed up. Probably heard something wrong and did not look up the actual rules.
Reply With Quote Quick reply to this message
 
Old 05-18-2017, 07:14 PM
 
Location: Dominican Republican, Carribean
28 posts, read 20,136 times
Reputation: 30
.... the only way in real life is disability.... and that takes years to get from the government, they will ruin your life before they start paying... a few years ago it was about 3 years or more to be approved on your claim, if you worked at all in those years, your claim was denied, then you would have to hire a disability attorney......one question for you, can you go for over 3 years without income from a job??... thats why few people get disability.........
Reply With Quote Quick reply to this message
 
Old 05-19-2017, 07:11 AM
 
6,321 posts, read 5,058,385 times
Reputation: 12831
Quote:
Originally Posted by luv4horses View Post
If that was true why not retire after your first 6 months? This fellow and your friend have their facts messed up. Probably heard something wrong and did not look up the actual rules.
yes, because from what I've read and understood, the company is just paying you more upfront to match what you would eventually get when you start receiving social security. Then when you do start receiving social security, they decrease your pension. So your retirement payout is even during your retired years. So no real money is coming from SS.
Reply With Quote Quick reply to this message
 
Old 05-19-2017, 07:13 AM
 
71,630 posts, read 71,777,271 times
Reputation: 49225
my brother inlaw had that set up when he retired from the railroad . that is just what the ss adjustment option is .
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top