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Local / State Employees

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19 Sep Student loan forgiveness program guide

For many, student loans represent a significant investment in an individual’s future. Borrowing to complete an undergraduate, graduate, or professional degree program is often the only means to pay for the cost of higher education, as the price tag continues to increase at public and private institutions alike. Currently, more than 44 million Americans have outstanding student loan debt, totaling over $1.4 trillion among them, and these figures make it hard to fathom how student loan balances will ever be paid off. Fortunately, some student loan borrowers have access to valuable forgiveness programs that offset the burden of paying for student debt...

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01 Aug Will I receive spousal or survivor Social Security if I have a government pension?

Will I receive spousal or survivor Social Security if I have a government pension?   Spousal and survivor Social Security benefits. Retirement plans and government pensions. Exceptions and more exceptions. You’re a government employee and you have a government pension coming, but what about your partner’s retirement plan? You may be entitled to some of their Social Security benefits, but does your government pension influence what you receive? It turns out it does, and the government has the details down to a T. First things first. What are you entitled to? You can collect up to 50% of your spouse’s Social Security benefits instead of...

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22 Jun Will I receive Social Security if I have CalSTRS or CalPERS?

Will I receive Social Security if I have CalSTRS or CalPERS?   If you’re a California public school teacher or public employee, you may have asked yourself this very question. In fact, I get asked it a lot from my clients. Understanding your CalSTRS retirement benefits if you’re a teacher or trying to figure out your CalPERS retirement as a public employee is not that simple. So when we start factoring in Social Security, of course there are going to be questions. That’s when the Windfall Elimination Provision comes breezing in. It turns out your tax withholdings and previous jobs make a big...

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14 Jun How to calculate your CalPERS retirement benefits

How to Calculate your CalPERS retirement benefits   More than 1.6 million California public employees, retirees, and their families. Managing one of the largest public pension funds in the US for that many people seems daunting, doesn’t it? And if you’re a recipient trying to calculate your retirement benefits, you may feel a bit lost. But terms like “benefit factor” and “final compensation” don’t have to be intimidating. Let’s break down the benefits, the variables, and get you informed and ready for retirement. First off . . . when can you retire? In most cases, you can retire at age 50 with 5 years of service...

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