Larry Kotlikoff: Try to get the Missouri School System to give you and all others the option to wait until 70 and collect an actuarially higher benefit.
This will entail no present value cost to Missouri’s School System, but it will let you and others take your Social Security benefits for eight years without the WEP or GPO kicking in, i.e., the WEP and GPO only come into play when you start collecting your non-covered pension.
Teachers do not receive information informing them that they are forfeiting their SS benefits when they become public school teachers, at least in Missouri, which seems like another miscarriage of justice.
Many teachers must work in the private sector to augment their relatively modest teacher salaries, and then — irony alert — are further penalized when they do so.
Lisa: I am a Missouri public school teacher and thus (as is the case in a number of states) caught in a web of WEP and GPO.