Home Forums Hunting & Shooting Hunter's Campfire Social security?

I have a vested pension that I haven't drawn yet. As far as I know SS won't penalize me for it.

From what I read, pension benefits do not normally affect one’s ability to draw SS at all. I am NOT an accountant, but it sounds like you should consult one

Besides, the idea of being penisalized sounds pretty creepy.

Since I’m not black, I expect to see nothing from SS.

Have never heard of that either. Could you provide details?

I know my mother (who passed away in 2012) did not get penalized on SS due to her pension, earned from working for 40+ years as a university professor.

On the other hand, I told her my wife and I did not count on getting anything from SS, even though as both of us are self-employed, we paid 15% of our taxable income in SS tax. She was a llittle shocked by that, though this worked out OK.

On the other hand, neither of us feel anything approaching guilt from drawing SS income on what we paid in over the decades.

John,

I'll check later with my brother about his situation, similar to what Hanco posted. Something he called a "windfall" penalty or some such. He worked for some State and Local gooberment agencies over the years along with regular SS pay in types. I have a few things to do, but will try to remember to text him tonight.

When they decide to do it......................


They're NOT going to pay you back.

They'll just tell you it was a tax you paid to be distributed as they see fit...............like all our other taxes.

For government employees there is a government pension offset.. hanco, you a govt employee?

Penalized... not penisalized

As our population continues to age, it would seem like political suicide to sharply reduce SS benefits. Old folks vote in big numbers. Not many elected officials are willing to risk their jobs. I believe most people will continue to receive some $$. It would not surprise me to see it start later and perhaps be “means tested”. Lately it seems popular to try to stick it (further) to high income earners. This would be one more way.

If ss taxes were paid there is no penalty.

My understanding is that your SS will be affected only if your employer didn't pay your social security. I draw a pension plus SS. My SS was reduced because I didn't wait until I reached my retirement age, I retired a year early. Talk to your benefits rep.

Thanks for the info. As an aside, if no SS taxes were paid, why would one expect to collect any benefits at all?

Go to the ss site. They have all the info.

Every parasite in America is receiving SS, along with other benefits. There are hundreds of thousands of government employees who's only job is to make sure they get it.

John, and others.

As Scout mentions, it depends on if SS taxes were paid on a "private" pension, Or a gooberment pension as in State or Local.

https://www.ssa.gov/benefits/retirement/planner/wep.html

In some cases, even though a person worked for years in a SS taxed job, and apparently had the quarters necessary to qualify, their SS benefits will be cut due to the non taxed pension they are drawing from.

Payroll taxes are all essentially stolen at gunpoint, else we wouldn't be 25 gorillian in debt and still printing.

The gunpoint end should be at the other end at this stage, but getting ripped off 20 times and getting paid back with inflated currency sure makes everything taste better.

It's not like anyone is serious about paying anything back, down or sideways, so why the taxes? Just print money...

One method that the government uses is to offer SS at 62 years old. They save 25%. This is done while delaying eligibility to 67 years old. All this is going on while people are dying. The combination of all these programs saves them a lot of money.

Had I known the situation would turn into the dumpster fire it is today, I would have taken mine at 62.

I told my brother who is 60, get it the second you turn 62. He's in the process of retiring now, anyway.

I have re-visited the decision many times. For me it comes down to future cash flow, with health coming in a close second. The younger people with no pension who have to waite to 67 is a more difficult decision.

My brother's got plenty of dough. Advice was more along the line of get it while you can before these communists rewrite the rules and redistribute what he's paid in for the last 50 years. He too has worked his ass off all his life. He'll be up rubbing elbows with slum and rene soon. That'll be a picture.

When you can eat at Arbys or KFC any time you want, all bets are off. Your brother should pray for a SS buy out program. Instant cash would be a big gift.