Ask Larry

Non-Covered Pension - WEP / GPO

Is There A Way To Calculate The Effect Of WEP On My Social Security Benefits?

Hi Larry
The WIndfall Elimination Provision on a foreign pension is said to be up to 50%, but are there guidelines for calculating a more accurate approximation?

thanks in advance
Ben

Hi Ben,

Yes, for more information on the windfall elimination provision (WEP), refer to the following pamphlet: https://www.ssa.gov/pubs/EN-05-10045.pdf.

Posted: 
Friday, November 25, 2016 - 12:45

Why Does My Canadian Pension Affect My Social Security Benefit Rate?

I am 67 years old and over full retirement age. My recent benefit statement advised that when I applied I would receive $871.30 per month. I am a native born American but worked in Canada and can receive monies from the Canada Pension Plan also. I advised Social Security of this and the numbers they sent me say that when the Canadian Pension starts my benefit rate from Social Security will drop by 28% to $625.80. Then when I add my Canadian pension to that (adjusted for the exchange rate) it only goes up 9%! So by activating the Canadian pension I seem to be being penalized.

Posted: 
Sunday, November 20, 2016 - 20:45

Can My Brother-In-Law Switch To A Higher Spousal Benefit?

My brother-in-law started drawing his own Social Security benefit at FRA which was over a year ago. His benefit is really low because he worked for the government for 35 years and retired then he took a job covered by S.S. Now his wife has turned 62 this year. She will be entitled to a much higher benefit than his current benefit when she files in 4 years. Can my brother-in-law switch to a spousal benefit now even though he's been drawing on his own record for over a year?

Hi,

Posted: 
Wednesday, November 16, 2016 - 09:45

Was WEP Correctly Applied In Our Case?

Hello - My wife and I have just filed for, and received social security awards in November. We have only 60 days to appeal the amounts. I am retired (industrial disability) law enforcement and received a 50% pension. Had I not been injured on the job and worked until age 53, I would have received a 75% pension, thus my injury (and reduced number of years on the job) cost me about 1/3 of a full retirement. I did not pay into Social Security while working law enforcement. I've paid enough into Social Security from another "covered" job that I'm eligible for benefits.

Posted: 
Tuesday, November 15, 2016 - 13:15

Is It True That My Husband Can't Get Spousal Benefits Due To WEP?

Hi Larry,
I bought your book, however I did not see any examples like this in chapter 14.
I turned 66 on 7/13/16 and started collecting my full SSI benefits on 7/1/16. My husband turned 66 on 6/22/16 and will collect his SSI benefits when he turn 70. He recently went to SSI to apply for spousal benefits to collect half of mine, but was told by several people at this agency that because of the "WEP" he would not be able to collect "anything" on my record. Here are the details:

Posted: 
Sunday, November 6, 2016 - 10:15

Can I Avoid WEP & GPO If I Take A Lump-Sum In Lieu Of A Pension?

I am 62 and married. My husband wants to keep working 4 more years but I want to retire now from my public sector job where I did not pay FICA but rather I put money matched by my employer in a self directed retirement account. I had 15 years of earnings where I did pay FICA. I have the option to take my public retirement savings in a lump sum or in monthly retirement pension. Can I avoid WEP/GPO if I take the lump sum and put the after tax remains in a Roth IRA?

Hi,

Posted: 
Saturday, October 29, 2016 - 09:45

Will My Wife's Social Security Benefits Be Affected By WEP or GPO?

I am about to chose a retirement payout option from an IPERS teaching job where I did not pay FICA. I have 35 years of earnings where I paid FICA tax so my monthly retirement income should not affect my SSI benefit. I am worried that if I chose a retirement option to give my wife a survivors monthly pension that it may reduce her SS benefit because she only has 10 years of FICA covered and 5 years of non FICA covered employment. Will my wife get hit by the WEP as my survivor?

Hi,

Posted: 
Saturday, October 22, 2016 - 21:30
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