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 […]
How familiar are you with the Partial Lump Sum Option (PLSO)? Are you aware of what it is and what it takes to be eligible for it when you retire? Is it the same benefit for everyone? How will it impact your taxes, or does it even have to impact your taxes? Simply put, the […]
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 […]
Retire Earlier You may be able to retire earlier than you think. After working for 24 years in public education, I retired at age 46, with a monthly pension! Impossible? Not at all! Not if you have the help and expertise of one particular company. Though I enjoyed my years in education, I was getting […]