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re: Rep. Garret Graves escalates effort to repeal Social Security penalty for teachers, police
Posted on 9/19/23 at 8:35 am to ragincajun03
Posted on 9/19/23 at 8:35 am to ragincajun03
My wife worked in education for 20 years and began receiving a pension. She has worked approximately 17 years in the private sector, paying SS taxes. Her estimated Full Retirement Age benefit from SS is $1728, but that will be reduced by the maximum WEP reduction of $512 based upon the year of reaching age 62. So if we wait until age 67, her SS benefit will be $1,216. A lot of posts state that you lose your SS, but for many, it's a lowering of SS. If you pay into SS between 20 and 30 years, there is a gradual reduction of the "penalty", and there is no reduction at 30 years. It would be great to get this increase, but considering that SS is already broke, I don't understand how they can manage this.
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