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The Social Security Fairness Act (Jan 2025) repealed WEP & GPO — restoring full SS benefits for teachers who were previously reduced or denied. This could mean thousands more per year in retirement.
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Tell us a little about yourself and your household so we can personalize your retirement plan.
Personal Information
Teaching Career
$
Yes — I do NOT pay into SS
No — I DO pay into SS
Not Sure
🏛️ Social Security Fairness Act (Jan 2025): WEP and GPO have been repealed. Teachers who were previously denied or reduced SS benefits may now be eligible for full or restored benefits — including spousal benefits. We'll walk you through this in Step 5.
Spouse / Partner
Married
Domestic Partner
Single
Divorced
Widowed
💡 Divorced Spousal SS Benefit: You may qualify for Social Security benefits based on your ex-spouse's record if you were married for 10 or more years, are currently unmarried, and are age 62 or older. The benefit does not reduce your ex-spouse's own benefit.
yrs
Yes
No
Not Sure
Before — ex has not yet claimed
After — ex is already receiving SS
Not Sure
$
$
$
🏛️ GPO Repeal — Important for Surviving Spouses
The Social Security Fairness Act (Jan 2025) repealed the Government Pension Offset (GPO).
Teachers who were previously denied or reduced survivor/spousal SS benefits because of their teacher pension may now be entitled to their full survivor benefit.
Retroactive payments back to January 2024 are being issued by the SSA.
Yes — benefits were denied or reduced
No — I was not affected
Not Sure
No — still unmarried
Yes — remarried after age 60
Yes — remarried before age 60
$
$
$
No — private sector
Yes — public employee
STRS — State Teachers Retirement
SERS — School Employees Retirement
PERS — Public Employees Retirement
Other Public Pension
💡 Ask your spouse to check their pension estimate using their retirement system's online calculator.
Have them provide their projected annual pension amount and enter it below.
$
SPOUSE ANNUAL PENSION
$0
$0 / month
Pension Formula: Most public pensions use Years of Service × Multiplier × Final Average Salary. Fill in the fields below for an estimate.
%
$
EST. SPOUSE PENSION
$0
$0 / month
Yes — Fixed % annually
Yes — CPI-based
No COLA
Yes
No
$
$
$
Step 2 of 8
What are your monthly expenses?
Understanding your spending is the foundation of retirement planning. Be honest — there are no wrong answers here.
Housing
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$
$
$
$
$
Transportation
$
$
$
$
Living Expenses
$
$
$
$
$
$
$
$
Retirement Expenses — Will These Change?
Good news: Many expenses drop in retirement. You can estimate what percentage of your current expenses you'll need. Most retirees spend 70–85% of their pre-retirement amount, but teachers with mortgage payoff or paid-off cars can be much lower.
Total Monthly Expenses:$0
Annual Expenses Now:$0
Estimated Annual in Retirement:$0
Step 3 of 8
Debts, Loans & Payoff Goals
List your debts so we can project when your expenses will drop — and factor that into your retirement cash flow.
Your Debts
Include your mortgage if listed separately here for payoff tracking. We'll use this to show when your monthly obligations decrease over time.
Mortgage Details (if applicable)
$
$
yrs
$
Step 4 of 8
Your Assets & Savings
Tell us what you've accumulated. These are the building blocks of your retirement income.
Retirement Accounts
$
$
$
$
$
$
$
$
$
2025 HSA LIMITS
Self-only: $4,300/yr
Family: $8,550/yr Age 55+: +$1,000 catch-up
💡 Triple tax advantage: Contributions pre-tax, growth tax-free, withdrawals tax-free for medical. Invest — don't spend — until retirement.
Other Assets
$
$
$
$
Spouse / Partner Assets & Savings
Enter your spouse's or partner's investment accounts so they're included in the household portfolio projection and final report.
$
$
$
$
$
$
$
$
$
$
SPOUSE TOTAL ASSETS
$0
current balances
Annual Pension at Retirement
🎓 Welcome, retired teacher! Enter your actual pension below — no estimation needed.
Your check stub or award letter from your state retirement system will show the exact gross annual or monthly amount.
Annual amount
Monthly amount
$
YOUR ANNUAL PENSION
$0
$0 / month
Where to find this:
Your annual pension award letter · Monthly retirement check stub · State TRS member portal (e.g. mySTRS, myCalSTRS, myNYSTRS)
💡 Use your state's pension calculator for the most accurate number.
Most state teacher retirement systems have a free online calculator —
search for "[your state] teacher retirement system calculator" or visit your state TRS portal.
Enter your projected annual pension below.
Pension Formula: Most state teacher pensions use Years of Service × Multiplier × Final Average Salary. Fill in the fields below for an estimate. For a more precise number, use your state's TRS online calculator.
%
EST. ANNUAL PENSION
$0
$0 / month
Yes — Fixed % annually
Yes — CPI-based
No COLA
Step 5 of 8
Social Security Strategy
Maximizing Social Security — especially spousal benefits — can add tens of thousands to your retirement. Let's map it out.
Your Social Security Eligibility
🏛️ Social Security Fairness Act — Signed January 5, 2025
The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) have been fully repealed.
Teachers who previously received reduced or zero Social Security benefits — including spousal and survivor benefits — are now entitled to their full earned benefit.
The SSA is processing retroactive payments back to January 2024.
Action required: Verify your updated benefit estimate at ssa.gov/myaccount.
💡 What are SS credits? Each year you work a job that withholds Social Security taxes (FICA), you earn up to 4 credits. You need 40 credits total — roughly 10 years of SS-covered work — to qualify for your own Social Security retirement benefit. Common sources include summer jobs, part-time work outside teaching, a working spouse's record, or teaching in a state that does participate in Social Security.
Not sure? Log in at ssa.gov/myaccount to see your full earnings history and credit count.
Yes — I have SS credits from other employment
No — I have never paid into SS
Not sure — I need to check ssa.gov
Previously affected by WEP? Your benefit estimate on ssa.gov may now be higher than what you were quoted before January 2025. Enter your updated estimate from your mySocialSecurity account for the most accurate projection.
$
$
$
Yes — my SS was reduced by WEP
Yes — my spousal/survivor benefit was reduced by GPO
No — I was not affected
Not sure — I need to check
📬 Retroactive Payments: The SSA began issuing retroactive payments in 2025 for benefits withheld under WEP/GPO. If you are already receiving reduced Social Security, you should receive a lump-sum back-payment automatically. If not yet retired, your future benefit estimate will be recalculated upward.
Steps to take:
1. Log in at ssa.gov/myaccount and review your updated benefit statement
2. Call SSA at 1-800-772-1213 if your benefit has not yet been recalculated
3. Enter your newly restored benefit amounts in the fields above
$
$
ANNUAL BENEFIT GAIN
$0 / yr
Spousal Social Security Strategy
Spousal Benefit Rule: A spouse can receive up to 50% of the higher earner's Social Security benefit at their Full Retirement Age (FRA).
Thanks to the Social Security Fairness Act (2025), GPO no longer reduces spousal or survivor benefits for teachers with government pensions.
Teachers who were previously denied spousal SS benefits may now qualify — check ssa.gov for your updated entitlement.
Age 62 (reduced — ~75%)
Age 67 (Full Retirement Age)
Age 70 (maximum — delayed)
Age 62 (reduced benefit)
Age 67 (Full Retirement Age)
Age 70 (max benefit)
N/A — Not eligible
Healthcare Bridge to Medicare
How retiree health coverage typically works: Most state teacher pension systems (like STRS Ohio) offer retiree health insurance, but the premiums are split into two very different tiers — one rate for the member alone, and a significantly higher rate when a spouse is added. Both rates drop considerably once you enroll in Medicare at age 65, which STRS Ohio and many other systems require at age 65 (Parts A & B). Planning for these two phases — pre-65 and post-65 — is key to avoiding surprise costs.
Yes — through my retirement system
Partial — subsidized but I pay a portion
No — I need to self-insure until Medicare
📋 Phase 1 — Before Age 65 (Pre-Medicare)
Enter your estimated monthly premiums before you (and your spouse) reach Medicare age. Your retirement system likely charges a much higher rate to add a spouse — enter each separately below.
$
$
TOTAL PRE-65 / MO
$0
🏥 Phase 2 — After Age 65 (Post-Medicare Enrollment)
Once you enroll in Medicare Parts A & B at 65, your retirement system premium typically drops significantly — Medicare becomes your primary insurer and the pension plan acts as a supplement. Enter your expected post-65 rates below. Note: your spouse's rate may remain higher until they also reach 65 and enroll in Medicare.
$
$
TOTAL POST-65 / MO
$0
💡 Don't know your exact rates yet? STRS Ohio members can find current retiree health premium tables at strsoh.org under the Health Care section. Other state systems publish similar rate sheets — check your pension system's retiree benefits guide. Your HR department may also have this info.
🛡️ Self-Insured Bridge to Medicare
Without pension system coverage, you'll need to bridge healthcare costs until Medicare at age 65 — typically through COBRA, the ACA Marketplace, or a spouse's employer plan.
$
yrs
BRIDGE TOTAL COST
$0
💼 Your HSA balance & contributions were entered in Step 4 and will be projected forward to help offset these retirement healthcare costs — especially effective post-65 when HSA funds can pay Medicare premiums tax-free.
Step 6 of 8
Tax Strategy & Minimization
Smart tax planning before and during retirement can save teachers thousands. Let's identify your best moves.
Current Tax Situation
%
Yes — fully taxed
Partially exempt
No state tax on pensions
Tax-Advantaged Strategies You're Currently Using
Roth Conversion Planning
Roth Ladder Strategy: Converting Traditional IRA / 403(b) funds to Roth during lower-income years (early retirement) can reduce taxes on future withdrawals and reduce RMDs at age 73+.
Yes — I want to minimize RMDs
Maybe — show me the math
No — I'll keep traditional accounts
Step 7 of 8
Your Retirement Goals & Priorities
What does retirement look like for you? Help us understand your priorities so we can tailor recommendations.
Lifestyle Goals
🏡 Stay Home — low-key, local
✈️ Travel often — moderate budget
🌎 International travel, active
💼 Part-time work / consulting
Yes — important goal
Maybe — if possible
No — spend it all!
$
Risk & Inflation Assumptions
Conservative (5%)
Moderate (7%)
Aggressive (9%)
Low (2%)
Moderate (3%)
High (4%)
Post-Retirement Income
$
🎓 Class Dismissed
Teacher Retirement Readiness Report
For educational purposes only — not financial advice
Current Age —
Retire At —
State —
Years of Service —
Pension Source —
Pension / Year —
Your Personalized Plan
Retirement Readiness Report
Based on your answers, here's a comprehensive analysis of your retirement outlook.
💰 Projected Annual Retirement Income
Income Source
Type
Notes
Annual Amount
📊 Income vs. Expenses Gap Analysis
🗓️ Expense Reduction Timeline
🛡️ Social Security Strategy
💡 Tax Minimization Recommendations
👫 Spouse / Partner Assets Breakdown
📈 Projected Household Savings at Retirement
⚖️ Retirement Age Scenarios
Retire Early (2 yrs earlier)
Planned Retirement
Retire Later (3 yrs later)
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