Will my retirement affect my unemployment or Social Security?

unemployed_personA) If you retire and start receiving Social Security benefits, it may affect your eligibility for unemployment benefits, as eligibility criteria vary from state to state. In some states, you may be considered unavailable for work if you retire, while in other states, retirement income may reduce or disqualify you from receiving unemployment benefits.

As for Social Security benefits, your retirement age and your earnings history will determine your benefit amount. If you retire before your full retirement age, your benefit amount may be reduced. It is recommended that you consult with a financial advisor or contact the Social Security Administration to determine how your retirement may affect your benefits.

Again 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:


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