Social Security. ( retirement) vs Unemployment
I will be 63 in June. I am currently on unemployment and have not taken s.s. benefits yet. My question is can in still receive unemployment benefits if I start taking s.s. Thanks.
Terry Says
That depends on your state of residence. In Illinois, Minnesota, Louisiana, and South Dakota, the recipient’s unemployment benefits can be reduced by his or her Social Security benefits.
May I advise that you do everything possible, anyway, to wait until your full retirement age (about 67) before taking benefits.
If you do get another job, you will be heavily penalized for your earnings. And, you will get an 8% a year boost in your benefits for each year you delay until full retirement age. It’s a BIG difference, so please try to wait!
