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SERS outlines "level income" option that temporarily raises pension before Social Security age
Summary
The webinar explained the level income option for members who paid into Social Security, where SERS temporarily increases pension payments before the retiree reaches Social Security age and reduces the pension later; the choice is irrevocable and requires a Social Security benefit estimate.
SERS presenter (Staff member, State Employees' Retirement System) explained the level income option, a choice that can increase a retiree's monthly SERS payment before the member reaches the Social Security age they select and that results in a pension reduction once Social Security eligibility begins.
Why it matters: Members who retire before their Social Security eligibility age may use level income to smooth household income in early retirement, but the election is irrevocable and…
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