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If you get an annual SS statement then it shows the history of your earnings since you started working.
Just compare your yearly earnings with those on the chart and you'll see if you have 30 years.
I retired from a FICA job and got certified to teach as something to do in retirement.
I made sure I had my 30 years in so I wouldn't get hit by WEP.
Wrong, at least for most pensions. It is the SS which can be reduced. It's called the Windfall Elimination Provision (WEP) and you can read about it on the SS website (www.socialsecurity.gov).
Thank you for the link Escort Rider. Queston; should anyone be concerned that it is not a https: secured site? Thanks for any thoughts.
If you have a pension the WEP will reduce SS by 1/2 or more (if you do not have the "substantial earnings" from another job where you paid into SS)
So...a rough estimate can be gained by halving whatever the amount is stated on your SS statement.....for example...if it says your estimated SS monthly payment will be $2000 a month you could expect that to be $1000 a month due to WEP.
I was a teacher for 11+ years in Texas and paid into TRS so I now receive a modest TRS pension.
But in other non-teaching careers I paid into SS for 32+ years so I avoided the WEP and I'm also eligible for for full SS benefits.
Compared to many of my co-teachers, I'm the exception that realized this and got out of the field as quickly as I could.
The WEP is a kick in the teeth for many teachers. It was a major reason why I left teaching. Just to be clear, and excuse the caps: IF YOU'RE A TEACHER, BE SURE YOU UNDERSTAND THE EFFECTS THAT MIGHT HAVE ON PENSION BENEFITS.
Interesting.....but have you ever calculated how much you have paid into SS vs having that teaching job w/pension where you didn't pay into it but into TRS system towards your pension?? (I'm assuming that you did not pay into SS while you were paying into TRS.....in NJ, teachers, mostly all public workers, etc don't pay into SS).
You might be in for a letdown if you calculate having a lifetime pension which could be started at an earlier age than SS assuming you weren't that old when you started job....i.e., could have started collecting a full pension at age 55 (if you had required # of years) vs. waiting to age 67 or 70 for full SS benefit. Also...Don't know whether you received health benefits from your non-public job (or perhaps that wasn't part of your Texas pension system....it is in NJ)....that is a MAJOR cost factor which shouldn't be discounted.
For those who have trouble understanding the workings of the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO) of SS benefits, you may want to read this article, Social Security Offsets on Creators.com
where the why and how of both are explained once again.
BTW, these provisions do not apply to "corporate" pensions, otherwise known as "defined benefit plans".
The answer is: It depends. I know my MIL's only job EVER was teaching 2nd graders for 20ish years. Her SS is not reduced by her school district pension. My pension, (municipal district) and hubby's state employee pension will not reduce our SS benefit according to the SSA. I believe federal pensions do trigger the WEP. Please correct me if I'm wrong.
For those who have trouble understanding the workings of the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO) of SS benefits, you may want to read this article, Social Security Offsets on Creators.com
where the why and how of both are explained once again.
BTW, these provisions do not apply to "corporate" pensions, otherwise known as "defined benefit plans".
This article was helpful. I guess one way to find out might be to look at your SS statement that you get each year and see if there are years when you were employed by your pension employer and if they state zero SS earnings, then yes you would be offset. In our case there are no zeroes for years that we worked, just our normal earnings amount.
This may not pertain to the subject, but my mother received a portion of my father's Federal pension (35 years of service) when he died. Since she had not worked much during their marriage, she went back to work part time after his death in order to qualify for SS. The SS she did receive was very minimal and had no impact on her Federal pension. The SS was just extra money to pay for her medical insurance.
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