Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

Ask your question here.

You must Register before posting to this forum.
The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

Zurndorfer is also the author of several federal employee benefits guides published by Federal Employees News Digest.

Your question will be put into a message queue and submitted for review. We cannot guarantee that all questions will be answered, however any answered questions will appear below, and some will also be featured in our daily Federal Daily e-newsletter (Subscribe here). Federal Soup users should not submit replies to the questions posted, as we leave the replies for the moderator only. Any replies to questions other than the moderator will be deleted.

Please do not submit employee benefits questions to the webmaster or the forum moderator.

Note: FederalSoup.com has attempted to compile information that is as accurate and current as possible for federal employees. Federal policies, laws, regulations, statistics and addresses continually change. Therefore, no warranties are made as to the accuracy or completeness of the information presented in this column. If additional clarification or information is needed, it is suggested that competent and professional assistance be sought. Mr. Zurndorfer does not moderate other forums on FederalSoup and will not reply to general FederalSoup inquiries submitted in this Q&A forum.

Options
Go to last post Go to first unread
boatnfish2  
#1 Posted : Friday, November 30, 2018 5:35:26 PM(UTC)
boatnfish2

Rank: Newbie

Groups: Registered
Joined: 11/8/2015(UTC)
Posts: 6
United States
Location: Mi

At retirement I will have worked a career under FERS. My spouse will have worked as a teacher where she didn't pay into Social Security (SS) and in another state as a teacher where she did pay into SS. She will receive a pension from both states and be eligible for Social Security.

As I understand it, she will be impacted by the WEP. The estimator on the SS website (input career earnings history) says her benefit would be $953. Per the SS website, it is unclear what age that benefit is assumed to be at. SS estimated benefits are: @62 $1,460, @67 $2,353, and @ 70 $3,014.

My question is, could she start to draw on both pension (when first eligible) and postpone taking SS until (70) as late as possible. This would seem to allow for the highest SS benefit knowing that it will be reduced due to WEP. Or, do the formulas account for this and would reduce the SS benefit by an even higher percentage at the higher ages.
Ed Zurndorfer  
#2 Posted : Saturday, December 01, 2018 3:15:58 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 9/10/2001(UTC)
Posts: 5,534

Was thanked: 142 time(s) in 131 post(s)
The longer she delays the receipt of her Social Security (at least until age 70), the larger will be her monthly Social Security retirement benefit. The WEP effect will not increase if she delays the start of her Social Security.
boatnfish2  
#3 Posted : Saturday, December 01, 2018 6:25:47 PM(UTC)
boatnfish2

Rank: Newbie

Groups: Registered
Joined: 11/8/2015(UTC)
Posts: 6
United States
Location: Mi

That is great news, thanks for the information.
Ed Zurndorfer  
#4 Posted : Saturday, December 01, 2018 7:12:17 PM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 9/10/2001(UTC)
Posts: 5,534

Was thanked: 142 time(s) in 131 post(s)
You are most welcome.
Rss Feed  Atom Feed
Users browsing this topic
Guest
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.


This page was generated in 0.388 seconds.