Jump to content
Sign in to follow this  
tim

Civil Service retirees who receive SS might like this ...WEP tax ...

Recommended Posts

tim

I wouldn't worry about that. After we kill you errr, I mean - hopefully after many long retirement years together with you, she will have enough from the life insurance policy.

 

I will make sure she knows where all of the money is buried in the backyard in case  ya'll get me errrr I mean, in case after many long retirement years I wander off into the woods and shoot myself in the back 27 times ...

  • Like 1

Share this post


Link to post
Share on other sites
tonny

Well new this guy in Ormoc  leyte ,,,his story!!!!!  Said He got Railroad SS disability,,   service connected  military pay 100 % and officers  railroad retirement which he said was separate from the regular  SS railroad disability  , which he said added up to over 8,000$ a month now he really was lucky are was telling a big one !!!!

Share this post


Link to post
Share on other sites
Paul

Well new this guy in Ormoc  leyte ,,,his story!!!!!  Said He got Railroad SS disability,,   service connected  military pay 100 % and officers  railroad retirement which he said was separate from the regular  SS railroad disability  , which he said added up to over 8,000$ a month now he really was lucky are was telling a big one !!!!

 

I have relatives who have worked, and still do work for the railroad. They do not pay into Social Security. To my knowledge, they are not eligible for it, either. Railroad Retirement is what they get, Tonny, if I am on track here. (No pun intended.)

Share this post


Link to post
Share on other sites
colemanlee

I have relatives who have worked, and still do work for the railroad. They do not pay into Social Security. To my knowledge, they are not eligible for it, either. Railroad Retirement is what they get, Tonny, if I am on track here. (No pun intended.)

That's the way I always heard it...I suppose if you had worked your 40 quarters doing something else you could get both...

 

When I retired from DOD I did it as a FERS employee...(federal employee retirement system) basically all we got was what we invested into the pension, but we also paid into SS so was eligible for that also...

Many that had been there a while were still on the CRS program,(Civilian Retirement Program) they did not pay into SS and were ineligible unless sometime in their life they had worked the required 40 quarters.  They could also convert their military service retirement into the program giving them that many more years for retirement which could pay off big if you had achieved say a high GS rating and retired say something like a Sgt. therefore getting paid at a much higher rate for those years.   There were some other intricacies to it but I don't remember as it did not affect me.  

Share this post


Link to post
Share on other sites
NOSOCALPINOY

 They could also convert their military service retirement into the program giving them that many more years for retirement which could pay off big if you had achieved say a high GS rating and retired say something like a Sgt. therefore getting paid at a much higher rate for those years.   There were some other intricacies to it but I don't remember as it did not affect me.  

I was on that boat and it did payoff big time for me at age 60 and 62, but I had both a GS & WG pay grade as a civilian employee for 18 yrs and and an enlisted reservist pay grade including my 12 yrs of active duty, which made up for the partial percentage lost in my Social Security pension due to the "WEP".

I'm aka a "Quadruple Dipper", with 4 pensions: My immediate Civil Service retirement Pension, Military Pay at age 60, VA Disability Compensation after my voluntary discharge from active duty and my Social Security pension I claimed at age 62, which are all earned entitlements (no freebies) like a few out there like myself who were at the right place and at the right time during their entire combined military and civil service career with the U.S. government.

Also during the Clinton administration early retirements, which only comes around once in a blue moon, were being offered to those with a minimum of 25 yrs service at any age during Clinton's military/civilian manpower reduction and base closures. I took the early retirement offer since I was ready to call it quits anyway and I had 30 yrs of service at age 49, which saved a younger employee from being removed from his/her position of the same career field I had occupied.

All's well that ended well. I've been retired going on 18 yrs now and my wife and I are still enjoying our retirement life style here in the Philippines and here we shall stay for the long term.    

  • Like 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..