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Did you know, Teacher Retirement Systems (TRS) are pension plans for educators. 📚💼 TRS benefits can impact Social Security due to the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). WEP can reduce Social Security benefits for those with TRS pensions, and GPO can affect spousal or survivor benefits. It's crucial for teachers to understand these rules when planning for retirement. Secure your financial future! #Teachers #RetirementPlanning #FinancialSecurity 💰👩🏫👨🏫Check out the links below for what was discussed in our podcast today!To calculate your TRS benefit, log in to this link to MyTRS and visit the Benefit Calculator under Planning Tools. https://mytrs.texas.gov/MbrSelfService/SSSALogin.action
1. WEP Calculator at https://www.ssa.gov/benefits/retirement/planner/anyPiaWepjs04.html
2. Windfall Elimination Provision (WEP) Guide https://www.ssa.gov/pubs/EN-05-10045.pdf
3. Windfall Elimination Provision (WEP) Calculator https://www.ssa.gov/benefits/retireme...
4. Government Pension Offset (GPO) Guide https://www.ssa.gov/policy/docs/program-explainers/government-pension-offset.html
5. https://www.ssa.gov/pubs/EN-05-10007.pdf
6. Government Pension Offset (GPO) Calculator https://www.ssa.gov/benefits/retireme...
7. SSA Frequently Asked Questions https://faq.ssa.gov/en-US/
Hi, I'm Mitzi E. Sullivan, CPA. My company, Mitzi E. Sullivan, CPA offers client-centered assurance, tax, and financial advisory services, specializing in small and medium-sized enterprises (SMEs), from inception to initial public offering.
Subscribe to my channel for guidance and pointers on the following:
- Business Compliance
- Business Income Taxation
- Entity Formation and Taxation
- Nonprofit
- Personal Income Tax
From small businesses to Fortune 500 companies, I am committed to exceeding client expectations! Please visit MESCPATX.COM or call (940) 539-3238 for more information.
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By Mitzi Sullivan CPA, PLLCDid you know, Teacher Retirement Systems (TRS) are pension plans for educators. 📚💼 TRS benefits can impact Social Security due to the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). WEP can reduce Social Security benefits for those with TRS pensions, and GPO can affect spousal or survivor benefits. It's crucial for teachers to understand these rules when planning for retirement. Secure your financial future! #Teachers #RetirementPlanning #FinancialSecurity 💰👩🏫👨🏫Check out the links below for what was discussed in our podcast today!To calculate your TRS benefit, log in to this link to MyTRS and visit the Benefit Calculator under Planning Tools. https://mytrs.texas.gov/MbrSelfService/SSSALogin.action
1. WEP Calculator at https://www.ssa.gov/benefits/retirement/planner/anyPiaWepjs04.html
2. Windfall Elimination Provision (WEP) Guide https://www.ssa.gov/pubs/EN-05-10045.pdf
3. Windfall Elimination Provision (WEP) Calculator https://www.ssa.gov/benefits/retireme...
4. Government Pension Offset (GPO) Guide https://www.ssa.gov/policy/docs/program-explainers/government-pension-offset.html
5. https://www.ssa.gov/pubs/EN-05-10007.pdf
6. Government Pension Offset (GPO) Calculator https://www.ssa.gov/benefits/retireme...
7. SSA Frequently Asked Questions https://faq.ssa.gov/en-US/
Hi, I'm Mitzi E. Sullivan, CPA. My company, Mitzi E. Sullivan, CPA offers client-centered assurance, tax, and financial advisory services, specializing in small and medium-sized enterprises (SMEs), from inception to initial public offering.
Subscribe to my channel for guidance and pointers on the following:
- Business Compliance
- Business Income Taxation
- Entity Formation and Taxation
- Nonprofit
- Personal Income Tax
From small businesses to Fortune 500 companies, I am committed to exceeding client expectations! Please visit MESCPATX.COM or call (940) 539-3238 for more information.
Mitzi'sMusings
Twitter
TikTok
LinkedIn