A public employer pension might mean a lower Social Security benefit
In this article by noted author and financial advisor Phil Moeller, he tackles a question from a reader who retired from the Massachusetts school teacher system, but has also worked enough outside that system to have earned Social Security benefits. Whenever a public sector employee earns a pension from an employer who did not participate in the Social Security program (in order words, didn’t pay FICA taxes into the system), any Social Security benefits they may be entitled to will be affected by the “Windfall Elimination Provision” (WEP) and/or the “Government Pension Offset” (GPO). All of this is explained by Mr. Moeller in this article appearing at considerable.com. Click here to read more.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public service to help Americans navigate the complexities of this program. Learn more about it here…