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Executive Summary: Few people understand how Social Securityoperates. In many cases, the meanings of terms used (e.g., trustfund) are different from the meanings conveyed when the same termsare used in the private sector. If Social Security's impendingfinancial problems are to be avoided, informed citizens mustmeasure reform options against the existing program's operatingstructure and practices. ....
Avoid a surprise from two rules that could come into play if you or your spouse receive pensions from work where they did not pay Social Security taxes. ....
LETTERS: Stop taking my earned Social Security benefits newsherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsherald.com Daily Mail and Mail on Sunday newspapers.
Dear Rusty: I lived and worked in the United Kingdom prior to coming to the US at age 45, which qualified me for a UK State Pension worth the equivalent of about $740 US dollars per month. Since moving to the US I have contributed to the US Social Security system for 14 years and my estimated US Social Security benefit is $1,643 per month. I have heard about something called âWEPâ and must be honest and say I donât fully understand. Can you provide some advice or references so I can understand what happens to these sums when I retire? I donât have any other pension income, so understanding these numbers is important. FYI, I hold both US and UK passports and will retire in the USA. ....
RUSSELL GLOOR: Ask Rusty - Will my U.K. pension affect my Social Security? Russell Gloor, Guest columnist FacebookTwitterEmail 2of2 Dear Rusty: I lived and worked in the United Kingdom prior to coming to the U.S. at age 45, which qualified me for a U.K. State Pension worth the equivalent of about $740 U.S. dollars per month. Since moving to the U.S. I have contributed to the U.S. Social Security system for 14 years and my estimated U.S. Social Security benefit is $1,643 per month. I have heard about something called “WEP” and must be honest and say I don’t fully understand. Can you provide some advice or references so I can understand what happens to these sums when I retire? I don’t have any other pension income, so understanding these numbers is important. FYI, I hold both U.S. and U.K. passports and will retire in the USA. Signed: Blessed from the U.K. ....