PSRS & PEERS

MISSOURI PUBLIC SCHOOL TEACHERS and SOCIAL SECURITY THE WEP — The Problem, The Rationale, The Formula, The Reality

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The Problem Missouri Public School Teachers who are in the PSRS generally DO NOT pay into Social Security. But many educators also have worked other jobs where they DID pay into Social Security. Many therefore DO qualify for Social Security benefits. However, Social Security has rules for those who receive both a pension where they […]

Social Security

MAJOR SOCIAL SECURITY CHANGES FOR 2020

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COST OF LIVING INCREASES (COLA) Social Security has announced that there will be annual COLA for 2020 of 1.6%. Last year, 2019, the COLA was 2.8%. All Social Security recipients — whether on one’s own retirement benefit, a spousal benefit, a divorced spousal benefit, a widow or widower benefit will receive this 1.6% increase. Even […]