Q) I am getting laid off next month , however I am considering retiring in April . Will my retirement affect my unemployment or Social Security?
A) If you are looking for work until April you can apply for unemployment. However, keep in mind that once you have retired you will not be considered as a person “ready and willing to immediately accept work”
Requirements for Unemployment Benefits:
Be totally or partially unemployed.
Be unemployed through no fault of his/her own.
Be physically able to work.
Be available for work which means to be ready and willing to immediately accept work.
Be actively looking for work.
Meet eligibility requirements each week benefits are claimed.
Be approved for training before training benefits can be paid.
Factors that may, or may not, affect your retirement benefits include:
- Getting Benefits While Working
- Different kinds of earnings:
- Government Pension Offset (GPO)
- Income Tax And Your Social Security Benefits
- Maximum Taxable Earnings
- Pension, Annuities, Interest And Dividends
- Social Security Credits
- Windfall Elimination Provision (WEP)