Application Retirement Guide
. A secure, comfortable retirement is every worker's dream. And now because we're living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did. Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances. The three major elements of your retirement portfolio are benefits from pensions, savings and investments, and Social Security benefits.
This planner provides detailed information about your Social Security retirement benefits under current law. Generally, you should apply for retirement benefits four months before you want your benefits to begin. If you were born before 1938 and you met all other requirements, you could receive benefits beginning with the first full month you were age 62. However, if you chose to begin receiving benefits before age 65, your benefits were reduced to account for the longer period over which you'll be paid. If you were born after 1937, you also can start your Social Security benefits as early as age 62, but your is more than 65.
To find out what your full retirement age is, use our. Even if you don't plan to receive benefits right away, or decide to wait until, you still should three months before your 65th birthday. Choosing the month you start to get benefits is an important decision. If you plan to continue working after you reach age 62, it may be to your advantage to. If our records show that documents proving age or citizenship/lawful alien status have already been submitted for an earlier Medicare or Social Security claim (such as Disability, Supplemental Security Income, etc.), you do not need to submit the documents again. Your military discharge papers if you had military service;.
Application Retirement Process
Your spouse's birth certificate and Social Security number if they are applying for benefits;. Children's birth certificates and Social Security numbers, if they're applying for children's benefits;. Proof of U.S. Citizenship or lawful alien status if you (or a spouse or child applying for benefits) were not born in the U.S.; and.
The name of your bank and your account number so your benefits can be directly deposited into your account. We need original documents or copies certified by the issuing office. You can mail or bring them to a Social Security office. We'll photocopy and return your documents. Don't delay your retirement just because you don't have all the documents we need. The representatives in your local office will help you.
Retirement estimates show how much your retirement benefit will be. The estimate can also include the amount for a survivor benefit after your death, your group life insurance benefit after retirement, and other important information about your retirement benefits. Members within two years of retiring can hear a retirement estimate over the phone by calling the NJDPB's Automated Information System at (609) 292-7524. Or you can get a retirement estimate online using the Member Benefits Online System. Both types of estimates use the service and salary information currently posted to your account. (These options are not available to SPRS or JRS members.) Members who are more than two years from retiring can use the long-range retirement estimate calculators. Pension checks are subject to federal income tax (except for Accidental Disability Retirement).
Guidestone Retirement Benefit Application
However, if you paid tax on any of your contributions to the retirement system, that portion of your monthly check is not taxable. If you live in New Jersey, your retirement benefit is not subject to New Jersey State income tax until you get back through pension checks the same amount you paid into the pension system while working. If you live outside of New Jersey, check with your home state's tax office to find out if your pension is taxable in the state you live. Other than federal and State income tax, there are only a few other deductions that might apply to your monthly pension check.