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Pensions Could Affect Your Social Security
If you were ever a public employee covered by a pension, you could be looking at reduced benefits from Social Security. Government workers in 15 states may have their benefits reduced by the “Windfall Elimination Provision” in their retirement, even more could be affected by the “Government Pension Offset” that reduces spousal and survivor benefits. If you are in a sector covered by a public pension then you need to be aware of whether you will be seeing reduced benefits in order to prepare for the lack of income that you may have been counting on in retirement. For more reading on this topic, visit this article by Sandra Block with Kiplinger’s Personal Finance.
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