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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.
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.
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.
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.
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
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.
.... 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.........
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.
my brother inlaw had that set up when he retired from the railroad . that is just what the ss adjustment option is .
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