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Social Security

Apr 17, 2018, 09:01 AM by MOSERS

If a past employee opts to withdraw MOSERS funds all at once upon early retirement age, will that effect their monthly social security amount down the road, after reaching eligible age for such?

MOSERS does not offer a lump-sum withdrawal option of your monthly retirement/pension benefit if you take early retirement.

As far as Social Security retirement benefits are concerned, your MOSERS benefit is a “public” pension and, therefore, is not considered a salary or wage so it does not count towards the annual earnings limit for Social Security. Earnings while in a MOSERS-covered position were also covered by Social Security, so there is no reduction in your Social Security benefit due to your MOSERS benefit. (See the information from Social Security on the “Windfall Elimination Provision” at https://www.ssa.gov/pubs/EN-05-10045.pdf for more information.) We encourage you speak to a tax professional or financial advisor for advice specific to your situation. For more information about Social Security, the Social Security Administration website iswww.ssa.govor call them toll-free at (800) 772-1213.

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We strive to provide the most accurate information possible in our answers to Rumor Central questions. However, occasionally, laws, policies or provisions change and individual circumstances may vary. Please contact a MOSERS benefit counselor or see the handbooks in our website Library for more detailed information. If there is any difference between the information provided in this blog or on the MOSERS website and the law or policies that govern MOSERS, the law and policies will prevail. See our Privacy, Security & Legal Notices for more information.