Timeline for Can a person work after "retiring" and receiving a pension?
Current License: CC BY-SA 3.0
17 events
| when toggle format | what | by | license | comment | |
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| Mar 14, 2018 at 1:02 | comment | added | user0721090601 | The calculations are not affected by any other job, only public jobs that provide benefits (e.g. full time). Summer seasonal employment, even if it continues to social security, would not affect the pension calculation because the extra bit paid out from the high multiplier is intestines by the public employer not sending a percentage of earnings to social security. | |
| Mar 14, 2018 at 0:59 | comment | added | user0721090601 | @iethyl please read both my answer and the comments.**for the example** of a superintendent retiring at full 75% state pension, with social security contributions for that job, he would necessarily need be full-time because otherwise he would not get a full year of service credit in the pension system. (If he got any at all). Also, I'm not aware of any system that allows you to accrue more than 12 mo credit in a year, even if you do double duty (also most administrators like superintendents are 12-mo and not able to work in the summer) | |
| Mar 13, 2018 at 23:16 | comment | added | iheanyi | @guifa you don't need to work full-time to contribute to social security. A seasonal job 3 months during the year. . .coincidentally, teachers are generally free that much each year, would do nicely. You also don't need 45 years unless you're trying to maximize SS. | |
| Mar 13, 2018 at 23:13 | comment | added | iheanyi | Teachers could get a side job that paid enough during the year to qualify for Social Security. The amount you need to earn is pretty small. With some effort, one could teach and accumulate the minimum amount to see no reduction in social security benefits due to teacher pension. | |
| Mar 13, 2018 at 14:56 | comment | added | user0721090601 | @ggdx Again, for this to apply to the example given, the person would need to have been working fulltime and with the state. Your photolab job was neither full-time (because FLSA 1938 both then and now as amended prohibits it) nor was it with the state (because FLSA prohibits virtually all public employment until age 16). | |
| Mar 13, 2018 at 10:38 | comment | added | ggdx | You're thinking that 45 years ago, people weren't working at 14? I was working in a photo-lab when I was 14 (and paying employment taxes) and I'm only 32 now. Things have changed quite a lot, but only very recently. | |
| Mar 13, 2018 at 8:57 | comment | added | user0721090601 | @dave_thompson_085 thanks for that information. Perhaps then SS coverage goes district-by-district? I admit here I'm not aware at all of how Illinois pays teachers (the two states I've worked in all educators are covered by SS and have pensions). It's just odd that the retirement system in Illinois would contemplate both types. Although come to think of it, it might count service in another part of the government that might indeed contribute. Yay bureaucracy | |
| Mar 13, 2018 at 8:41 | comment | added | dave_thompson_085 | If there was a change it would be toward SS not away. Originally SS did not cover state&local government employees because federalism; since 1951 such governments (or component agencies/systems/etc) can elect SS coverage by an agreement under section 218, and if they do so cannot go back. (And since 1991 employees are automatically covered if there is no state/local retirement plan.) irs.gov/government-entities/federal-state-local-governments/… has the best summary with links I can find. | |
| Mar 13, 2018 at 8:20 | comment | added | Minix | @guifa I love you for actually answering them seriously. | |
| Mar 13, 2018 at 0:16 | comment | added | user0721090601 | @DonQuiKong Under 14 they have extremely few jobs available to them, and none of those that are would be available in the public sector or are full-time. | |
| Mar 12, 2018 at 23:20 | comment | added | Tim | @DonQuiKong they couldn’t - 10 is less than 14??? | |
| Mar 12, 2018 at 20:29 | comment | added | DonQuiKong | @guifa what if they start at 10? | |
| Mar 12, 2018 at 19:30 | comment | added | user0721090601 | @DonQuiKong because of work restrictions on under-16-year-old employees. I don't know what the restrictions were exactly 40 years ago, but today, for instance, that 14- or 15-year-old cannot legally work full time, as the maximum during school weeks would be 18 hours, thus they would not accumulate their 45 years until age 61. | |
| Mar 12, 2018 at 18:59 | comment | added | DonQuiKong | @guifa why impossible? ;) | |
| Mar 12, 2018 at 18:01 | comment | added | user0721090601 | @jamesqf for this example, the employee would need to have begun working full-time with the state at age 14, and the would have needed to also go to college for at least 4 (but realistically 8-12 — every superintendent I know has a PhD or EdD) years. | |
| Mar 12, 2018 at 17:49 | comment | added | jamesqf | Why impossible? Unlikely, perhaps, especially these days, but my now-retired neighbor says he started working at 14. | |
| Mar 12, 2018 at 17:22 | history | answered | user0721090601 | CC BY-SA 3.0 |