Why do MO Politicians refuse to allow MO teachers

[Veer2Eternity]

to collect their paid for SS?

I didn't start teaching until my 30s.
I'm fully vested in SS.

Why can't i also draw that when I retire?

Yes it is up to the state.

 

[oldroundballer]

Are you in the PSRS? Here's a page right from their website that might shed some light on this subject.

PSRS - Social Security

www.psrs-peers.org

This says it's a federal SSA thing. It says you will get SS benefits. Just not as much as you would have if you didn't have the PSRS benefit. It's all explained by following the link they provid to the Social Security Windfall Elimination Provision.

https://www.ssa.gov/pubs/EN-05-10045.pdf

I don't see anything anywhere where the state of MO has anything to do with it. What am I missing?

 

[Veer2Eternity]

Are you in the PSRS? Here's a page right from their website that might shed some light on this subject.

PSRS - Social Security

www.psrs-peers.org

This says it's a federal SSA thing. It says you will get SS benefits. Just not as much as you would have if you didn't have the PSRS benefit. It's all explained by following the link they provid to the Social Security Windfall Elimination Provision.

https://www.ssa.gov/pubs/EN-05-10045.pdf

I don't see anything anywhere where the state of MO has anything to do with it. What am I missing?

Missouri is a state that opts-out of social security coverage for full-time teachers, but part-time teachers are covered. There are two retirement systems for public school employees- the Public School Retirement System (PSRS) and the Public Education Employee System (PEERS).

Not All Teacher Retirement is Created Equal

Many teachers are left out of the United States' Social Security System. What can we learn about state and school district variation?

nces.ed.gov

 

[Toots_mcgee]

I worked from the age of 13-35 and paid into SS. I had enough quarters to qualify for full benefits. At 35 I switched to teaching. I have a PSRS full pension. I am currently getting a SS check each month but it is only about 1/2 of my earned benefit.

The worst part for me is that my wife was also a teacher and because she has a PSRS pension and didn’t pay enough into SS over the years. There is no SS survivor benefit for her if I die. My SS benefits die with me. This pretty much forced me to take SS at 62 because otherwise she might not see any of the benefit.

From the SSA. Gov website:

If you are expecting to receive a pension based on work not covered by Social Security, (e.g. federal, state, or local government employment) it may reduce the amount of Social Security benefits we can pay you. Our Windfall Elimination Provision (WEP) Online Calculator can tell you how your benefits may be affected.

You will need to enter all of your earnings taxed by Social Security, which are shown on your online Social Security Statement.

You also need to enter the monthly amount of your pension that was based on work not covered by Social Security.

 

[oldroundballer]

I worked from the age of 13-35 and paid into SS. I had enough quarters to qualify for full benefits. At 35 I switched to teaching. I have a PSRS full pension. I am currently getting a SS check each month but it is only about 1/2 of my earned benefit.

The worst part for me is that my wife was also a teacher and because she has a PSRS pension and didn’t pay enough into SS over the years. There is no SS survivor benefit for her if I die. My SS benefits die with me. This pretty much forced me to take SS at 62 because otherwise she might not see any of the benefit.

From the SSA. Gov website:

If you are expecting to receive a pension based on work not covered by Social Security, (e.g. federal, state, or local government employment) it may reduce the amount of Social Security benefits we can pay you. Our Windfall Elimination Provision (WEP) Online Calculator can tell you how your benefits may be affected.

You will need to enter all of your earnings taxed by Social Security, which are shown on your online Social Security Statement.

You also need to enter the monthly amount of your pension that was based on work not covered by Social Security.

That's how I read the Federal SS rules. Sucks that they restrict what you've actually earned. I have an interest because my wife is in the same boat. She started teaching later in life and has some SS paid in. She'll be retiring in the next couple years.

You're MO I believe. Veer's info says MO opts out of teachers drawing any SS. That's obviously conflicting with you. What gives?

 

[MGHS]

People should get what they paid in I 100% agree..... But some people receive more than they pay in and some people receive survivor benefits and never paid in.... thus you end up with a shortfall and BS like you pointed out happens they assume because you have another source of income that they can steal what you paid in and redistribute it. It's called a Social Program for a reason.. there is never anything fair about the govt programs that redistribute the taxpayers money.

 

[Toots_mcgee]

That's how I read the Federal SS rules. Sucks that they restrict what you've actually earned. I have an interest because my wife is in the same boat. She started teaching later in life and has some SS paid in. She'll be retiring in the next couple years.

You're MO I believe. Veer's info says MO opts out of teachers drawing any SS. That's obviously conflicting with you. What gives?

I didn’t read his article, but I assume it means we don’t pay into SS WHILE we are teaching. But we pay 14.5% into PSRS and it’s matched by our local school district. So they withhold pretty much double what SS would have and they wisely invest the money. It’s a well managed plan.

So they don’t withhold any SS, which is why it said the state opts out. It doesn’t mean prior or later payments to SS don’t count.

 

[kaskaskiakid]

The law is teachers who paid into SS previously get 60% of total SS benefit before taxes.

 

[oldroundballer]

I didn’t read his article, but I assume it means we don’t pay into SS WHILE we are teaching. But we pay 14.5% into PSRS and it’s matched by our local school district. So they withhold pretty much double what SS would have and they wisely invest the money. It’s a well managed plan.

So they don’t withhold any SS, which is why it said the state opts out. It doesn’t mean prior or later payments to SS don’t count.

Re-reading I understand now and it makes sense. That's not how Veer makes it sound in his post. He clearly states that MO politicians won't allow him to draw the SS that he's already paid in. That's obviously incorrect.

Veer, I hope you feel better about this now. It's plain to see that MO politicians have nothing to do with teachers drawing SS from what they've already paid in.

Have a great day.

 

[Veer2Eternity]

Re-reading I understand now and it makes sense. That's not how Veer makes it sound in his post. He clearly states that MO politicians won't allow him to draw the SS that he's already paid in. That's obviously incorrect.

Veer, I hope you feel better about this now. It's plain to see that MO politicians have nothing to do with teachers drawing SS from what they've already paid in.

Have a great day.

I was wrong in the way I understood it. Thanks to you guys for educating an old man.