Q. If you are getting Social Security but still working full time and being fired for the coronavirus, can you collect unemployment?
– Facing new challenges
A. There are many people who receive Social Security benefits but continue to work to supplement their income or stay active.
The Covid-19 crisis resulted in a dramatic increase in unemployment claims, and this has caused many mature workers to question their eligibility to collect both benefits, said Jodi Cirignano, a certified financial planner and certified public accountant with Lassus Wherley, a Peapack -Gladstone Bank subsidiary in New Providence.
She said she can collect both Social Security and unemployment benefits.
Unemployment benefits are administered by your state and calculated based on your recent earnings history and the state’s benefit rate, he said.
Social Security benefits are administered by the federal government and are based on your record of earnings during your 35 highest-paid work years.
“In the past, some states reduced the monthly unemployment benefit of those who receive Social Security benefits, but those ‘compensation’ laws have been repealed in all states,” said Cirignano.
Email your questions to [email protected].
Karin Price Mueller writes the Cheated column for NJ Advance Media and is the founder of NJMoneyHelp.com. Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Enroll in NJMoneyHelp.com‘s Weekly electronic newsletter.
