JOIN NOW LOG IN
iVillage GardenWeb iVillage GardenWeb THE INTERNET'S GARDEN & HOME COMMUNITY ADVERTISEMENT
Blogs
Garden Voices
Forums
Garden Forums Home Forums Nature Forums
Photo Galleries
Garden Galleries Home Galleries
Ask The Experts Tools & Directories
Organization Directory Events Calendar Hortiplex Glossary Zone Finder Garden Bazaar
       
Return to the Household Finances Forum | Post a Follow-Up

o
How Will Teacher Benefits Dock SS Payment?

clip this post email this post what is this?
see most clipped and recent clippings
Posted by chisue (My Page) on
Tue, May 13, 08 at 10:56

I posted on "Retirement", but hope someone here knows this.

DH volunteered and did a little paid subbing at our high school after he retired. The teacher's pension fund took a percentage of his pay (about $2K). He's not going to sub anymore. He wants out of the fund.

The fund says they will give him lump sum of $2K or lump sum of 'benefits': $4K -- but that 'benefits' may result in an adjustment of his SS benefits. (You should also know that MY SS benefits are tied to DH's.)

Talking to SS has been chase-your-tail so far. Any thoughts?

Follow-Up Postings:

o
RE: How Will Teacher Benefits Dock SS Payment?

clip this post email this post what is this?
see most clipped and recent clippings

It's hard to know without more info. If your husband has "substantial earnings" as defined by SS (see link below), it seems that he can take the pension benefit without it affecting his SS benefit.

But for the money involved, it would be a good idea to consult with a lawyer who specializes in pension benefits law. This is a very complicated area and really requires the services of a specialist.

Here is a link that might be useful: Windfall Elimination Provision

o
RE: How Will Teacher Benefits Dock SS Payment?

clip this post email this post what is this?
see most clipped and recent clippings

Thanks, FF. Yes, DH did have 'substantial earings' for over 30 years. We'll try the SS again for an answer. YOUR answer may help show THEM the way!

I'm thinking that since we are only talking about $4K, we'll just take the 'benefit' and let the chips fall where they may. Oops, no, have to talk to our accountant too.

I got us into this discussion after comtemplating the sad state of underfunded pension funds. AMF (All My Fault)

  
 

 

 


Click here to learn more about in-text links on this page.



iVillage GardenWeb: The Internet's Garden & Home Community
Join | Garden Forums | Home Forums | Exchanges & Trading | Member Pages | Contact Us
© 2006 iVillage Inc. All Rights Reserved. Terms of Service | Privacy Policy | Policies FAQ | Advertising
  
  iVillage Home & Garden Network