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Ask Rusty – Should I Claim Social Security Now or Wait Until I’m 70? AMAC Certified Social Security Advisor Association of Mature American Citizens Dear Rusty: I'm currently 67 years old and still working full time. I took a big financial hit in 2008, which is why I'm still working, and I expect to continue working until I'm 70. My question is: should I take Social Security now, bank it until I’m 70, and then pay it out to myself upon retirement? Or would it be better to hold off until I’m 70 to claim. Longevity of about 85 seems to run in my family. Signed: Working Senior

Ask Rusty – Avoiding WEP & GPO Reductions AMAC Certified Social Security Advisor Russell Gloor Association of Mature American Citizens Dear Rusty: I am a retired Texas teacher receiving my State pension. I retired in February 2009, before the end of a “loophole” which affected my future Social Security. I had earned enough credits to receive Social Security benefits in addition to my Teachers Retirement System (TRS) pension. At 62 I began getting my SS benefit (reduced by my TRS pension).  My husband didn't start his SS until last year, at which time I contacted Social Security so my ...

RUSSELL GLOOR: Ask Rusty - Avoiding WEP, GPO reductions Russell Gloor, Guest columnist FacebookTwitterEmail Russell Gloor, Ask RustyRussell Gloor Dear Rusty: I am a retired Texas teacher receiving my State pension. I retired in February 2009, before the end of a “loophole” which affected my future Social Security. I had earned enough credits to receive Social Security benefits in addition to my Teachers Retirement System (TRS) pension. At 62 I began getting my SS benefit (reduced by my TRS pension). My husband didn’t start his SS until last year, at which time I contacted Social Secur...

Ask Rusty – How Will My Wife’s Benefits Be Affected by My State Pension? AMAC Certified Social Security Advisor Russell Gloor Association of Mature American Citizens Dear Rusty: I am 73 and receive a pension from my state’s Police and Fire Pension Fund. I took a full pension, so my wife only gets a widow’s pension when I die, and this is only a fraction of what my full pension is. I also get a small Social Security benefit, about $95 a month, and that amount is pro-rated because of the amount of my state pension. My wife is 71 and receives a Social Security benefit of about $600 a mo...

John Grimaldi “We’re not giving up on our efforts to eliminate the unfair income tax on Social Security benefits. The Senior Citizens Tax Elimination Act is being reintroduced and the Association of Mature American Citizens [AMAC] will be doing what it takes to encourage lawmakers to support the measure,” says Bob Carlstrom, president of AMAC Action, the association’s senior advocacy affiliate. The original Social Security and tier 1 railroad retirement benefits were specifically exempted from income taxes when they were created in the mid-1930s. “After all, workers pay for them w...