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Unemployment Benefits and Social Security Retirement offsets

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Unemployment Benefits and Social Security Retirement offsets Empty Unemployment Benefits and Social Security Retirement offsets

Post by wilcal Tue Feb 22, 2011 5:21 pm

Are there any? The answer to that is maybe. Go to
Google and search on:

"unemployment and social security offsets"

the most complete document there is at:

http://www.nelp.net

According to the NELP report 11 states have some
sort of offset. Mostly 50%. The District of Columbia
offsets 100%. You need to research your situation
in your State carefully before filing for Social
Security Retirement Benefits. Or, if you were
working and was collecting Social Security Retirement
Benefits and then apply for Unemployment Benefits
you may lose some of your Social Security Retirement
Benefits.

In most States you can collect both Unemployment
Benefits and Social Security Benefits both at
the same time. And they do not effect each other.
For some of us that may in fact be a bit of a
bonanza.

If you attempt to collect Social Security Disability
Benefits and Unemployment Benefits both at the
same time then you are telling one Government agency
you can work and the other you cannot work. They
will find you.

I live in California. There are no offsets in
California. I researched this really really hard
before starting my Social Security Retirement Benefit
when I turned 65. I even asked the person at the SS
Office about it and they said it was unaffected.
I sent a message to the CA EDD and got the same
response. To give you the extreme case in CA the
maximum UI amount per week you can get is $450.
The maximum monthly amount you can get from a
Social Security Retirement Benefit is $2366,
450 x 4 = $1800/mo UI
$2366/mo SS retirement
$1800 + $2366 = $4166/mo

I don't make $2366 from my SS retirement benefit
but I had a successful career and my benefit
is not a lot, not a little, but comfortable.
I can easily live modestly on it and get nothing
else.

Really really important. Unemployment Benefits are
taxable. And depending on your situation a part of
your Social Security Benefits can be taxable too.
So check with your tax person on your status.
I made four estimated tax payments last year and
got a rebate.

I'm more then happy to share what I have experience
with anyone who asks.

wilcal
Member

Posts : 17
Join date : 2011-02-22

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