I decided to begin taking my SS payments at full retirement age because of WEP. Currently, I still working for the state of Nevada as a licensed educator and will receive a pension. I worked in the private industry before I began working as an educator for the state of Nevada. I’ve been working for the State of NV for the last 26 years where I did not pay into Social Security. I have enough months from working in NY where I paid into Social Security. But . . . Social Security will take most if not all of my Social Security benefits once I begin receiving my pension from the State of Nevada. So . . . Currently, I’m receiving my full Social Security benefits while I am still working as a teacher and have not retired from the State of Nevada. I paid Social Security while working in New York. My point is . . . it’s unfair to penalize me for the time I worked in NY and paid into the system. Currently, WEP will take All of my Social security because my pension will be more than half of my Social Security benefits.
@user-pr3nb6qe6y7 ай бұрын
Hey, I was married for 20 years. My husband earned a lot more than I did. Then we divorced in 1983, and became a teacher for the next 20 years of my life. When I retired I found out I wouldn't get my ex-husband's social security! No one knew about this at the time I retired, or perhaps I wouldn't have become a teacher! My ex-husbnd has since passed and I get a reduced amount, very reduced, of my widow's Social Security benefit. Moreover, because I ENTERED the teaching field LATER in life, I do not get a full teacher's pension. A 20 years pension is much less than a 30 years pension. NOT FAIR to women like me who entered the teaching field after raising children. This needs to be repealed! it apparently affects about 80% women, compared to men. So teachers are especially hard hit with this.
@Dolphinfinancialgroupfl6 ай бұрын
Sorry you were surprised like many others. Spread the word!
@pldaniels389 ай бұрын
I'm receiving pension from FERS, Federal Employees Retirement System as a Postal Carrier. I am 60 years old and want to receive widower social security. I did contribute to social security for over 30 years and decided to retire with full benefits from USPS. My husband died 3 years ago. I get. my pension and a supplement from Social Security as a FERS retiree . I think I have to make a decision whether to continue receiving the supplement or my husband's Soc. Sec.
@user-de9hr4uc6u2 ай бұрын
I agree I worked 26 years county broad of Disabilities in Cleveland Ohio then I got into an car accident and had to live off my pension for an year then I worked 15 years where I paid into social security WEP needs to be replaced I'm living now on 475.00 I paid off the penalty
@jamess435123 күн бұрын
Not cool.. I worked at a grocery store-paid into ss for 5 years. Worked as a police officer-no ssi for 20 years but i will get a small pension wheni turn 50. Now i happily work at Walmart for 16 an hour and paying into ss. Im 45 years old. Here's my question.. i have 36 ss points. Do i work to get my 40 points or cut my losses cuz im going to receive maybe 50% of my ssi benefit?
@BangNguyen-ux4ieАй бұрын
My wife receives pension from a semi-gov agency (and she didn't pay ss tax during her work years), does that affect MY social security benefits amount at all? Understood that she won't have spousal SS benefits off of mine because her pension exceeds the income threshold. My question is whether her having this pension would reduce MY OWN ss amount.
@davidedward2891Ай бұрын
Just give me back what I contributed because I get $0 now. I paid 6.5% for my retirement annuity and 6+% into SSA. THAT WAS ALSO MATCHED BY MY EMPLOYER. So just give back what I put in with the appropriate interest. Same as when the government borrows from the SSA trust fund and later repays it.
@brendanau71652 ай бұрын
I never worked for the government nor did my husband. However, his company went bankrupt and he was employed there 28 years. The pension program went to the Pension Benefit Guaranty Corp. Will this scenario reduce his SS amount even though he was never a government employee and his pension was with a major company.
@Dolphinfinancialgroupfl2 ай бұрын
The WEP & GPO apply to government, not private, pensions.
@brendanau71652 ай бұрын
@@Dolphinfinancialgroupfl Thank you for your reply. This is interesting because his pension amount was $600 and SS deducted that amount from his total SS. He recently passed away and my PBCG amount will be $300. Will SS adjust the reduced amount?
@davidedward2891Ай бұрын
@@Dolphinfinancialgroupflgo figure...so WEP is only aimed at government employees because Reagan was against government workers.
@meesacreefАй бұрын
It comes down to whether or not social security taxes were paid during the employment that led to the pension. Most private pensions are where employees and their employers paid into the Social Security system. Government pensions where social security taxes are also paid (unusual but this does exist), will not be affected by WEP and GPO.
@user-fo4uz5nl3n6 ай бұрын
I’m not married, I paid into social security, (Retired ) USAR, received SSDI and a Federal Pension. It’s my pension I worked for, not a spouse and my pension was offset and my SSDI was not reduced. So, if it’s my pension and not a spouse, why is there an offset.?
@user-rf2ko8hr1n4 ай бұрын
because Ronnie R thought that every federal retiree waas rich and didn't need to have full social security
@michaeledge89059 ай бұрын
I have a government pension so the question is how will that affect my wife's social security when she starts collecting and after I pass? She has worked well over thirty years.
@Dolphinfinancialgroupfl9 ай бұрын
If your spouse has her own SS benefit, not impacted by WEP, then she'll simply continue her own benefit after you pass. She would keep her own or yours, whichever is higher.
@beautyRest18 ай бұрын
I received a pension from Germany, so they wanted to cut my SS. I worked 26 years in the US, but due to a totalization agreement ( a treaty between the US and Germany) I get my full SS benefits, but I was fighting!!
@michaeledge89059 ай бұрын
I personally worked for 22 years in the private sector before getting my government job so why would I get the short end of the stick. Means I paid in for nothing.
@charleslemaire81377 ай бұрын
WEP never lowers your benefit to zero. It simply moves your addition income (like a second job for anyone else) up the bend-point curve so that your replacement rate correctly matches your actual retirement income.
@XTRMOverland4 ай бұрын
i cannot see how you could say that WEP or GPO is fair for any reason...people who worked hard and was forced to pay into Social Security with the assumption that they will get less than 80% of what they put in, then eliminate that reduced benefit when they get a government pension, how in any viewpoint is that fair? this is one reason i always recommend not working for income that contributes to Social Security...
@stephenyang91363 ай бұрын
WEP does not apply if you contributed to social security for 30 years.
@christinelinden40752 ай бұрын
The statement that those who don’t contribute to SS get much larger pensions is completely false. Many public pensions have been frozen or cut to the bone. It is a discriminatory law.
@patriciasutherland80255 ай бұрын
DISCRIMINATION
@user-rf2ko8hr1n4 ай бұрын
you are not entirley truthful. if you have a government retirement or a public pension you could get hit with this if you did nothave your full 40 quarters earned by a certain date. you will get dinged by this.