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GWbiker
Member
posted Hide Post
quote:
Originally posted by MMSIG229:
UPDATE

So I went and opened up a SS account from their website. Some good news. I started paying into SS in 1973 and was paying into it like a normal person until I was hired by the dept in 1991. From 1991 on I had still been paying into it from off duty details etc. I got a statement and was able to see my contributions for all the years from 1973 until the present. After plugging in all the figures, and providing my monthly pension benefit it looks like I'll be getting about $343.00 a month. Better than nothing!!! I can only assume that the guy I spoke with originally at the SS dept didn't take into account the fact that I continued to contribute during my 25 years at the police dept.

And yes, I'm very happy with Edward Jones. My advisor took all my finances into account and did a spread sheet on what we'll need during retirement. Taking everything into account we'll be at 103% of our necessary living expenses. Now I can stop worrying so much!!!


Glad is turned out in your favor.

Depending on your and your Wifes Pension amounts coupled with SS amount, your SS may be taxed. (Thank you Slick Willie) Upwards to 85%.

If I remember correctly, it's $25K for singles and $33K for married.

There's a formula sheet on the SS website.

And when you turn 65 for Medicare, Medicare takes a bite.


*********
"Some people are alive today because it's against the law to kill them".
 
Posts: 8228 | Location: Arizona | Registered: August 17, 2008Reply With QuoteReport This Post
mikeyspizza
Member
Picture of mikeyspizza
posted Hide Post
Retired CSRS Fed here, with 40+ quarters of SS credit. I also am hit by windfall elimination provision.

But, I knew that going in, so worked part-time jobs to get 40 quarters of SS coverage.

Took SS at 62 (as early as possible) to receive something before it's gone. So, I'm penalized by the Windfall provision and also by taking early benefit.

In a couple of years I will have gotten back all I paid in.
 
Posts: 4009 | Location: North Carolina | Registered: August 16, 2003Reply With QuoteReport This Post
1967Goat
Shit don't
mean shit
posted Hide Post
quote:
Originally posted by exx1976:
By the time I retire I'll have been paying into it for over FIFTY YEARS, and I won't get a fucking dime out of it.


Huh? Why won't you received anything? They will still be collecting money and paying money out.
 
Posts: 5760 | Location: 7400 feet in Conifer CO | Registered: November 14, 2006Reply With QuoteReport This Post
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