Hey all-first post so please excuse if redundant. I am going to retire from a teaching position this year. Our pension plan is administered by the state of Ohio. I have not payed into the social security retirement system. My wife passed away several years ago so I am eligible for survivor benefits. I have questions relative to retirement and survivor benefits. My wifes benefit will pay $1440/month at age 60 or $2000 a month if I wait until age 66 . My pension will pay about 1900/month at age 60.I think I understand the WEP offset (.66 x 1900). I will probably be in a 15% tax bracket.
1. Should I delay taking my teaching pension until age 66 and start drawing the social security survivor benefit? (This would increase my benefit by about 8%.)
2. Should I delay taking the survivor benefit until age 66?
1. Should I delay taking my teaching pension until age 66 and start drawing the social security survivor benefit? (This would increase my benefit by about 8%.)
2. Should I delay taking the survivor benefit until age 66?