How Can I Find Out How WEP Will Affect My Benefits?

Feb 4 2017 - 7:30am

Neither STRS nor Social Security can give me WEP info for planning. What about teachers who also worked through school and tutor, for example through WyzAnt 1099 on the side, worked in private summer schools, and after teacher retirement (after teaching 30 years) work years contributing to ss. Is it better to have consecutive years for SS ( not claim and write off 1099)? After 30 years of teaching what is the max they can deduct? How can I maximize SS as I work for myself and otside teaching until I'm 66 and 2 months or whatever it is?. Nobody seems to have specialized info. Thanks.

Hi,

The windfall elimination provision (WEP) can result in the use of a less generous formula being used to compute a person's Social Security retirement benefit rate if they receive a pension based on work that was exempt from Social Security taxes. It doesn't matter if they worked in Social Security covered employment before, after or the same time they performed the non-covered work. But, there is an exemption to WEP for people who have at least 30 years of 'substantial' covered earnings (https://www.ssa.gov/pubs/EN-05-10045.pdf).

The maximization software available on the website is fully programmed to handle cases with WEP involvement, as well as GPO (https://www.ssa.gov/pubs/EN-05-10007.pdf) which can reduce or eliminate spousal or widow(er) benefits. The software allows you to run numerous 'what-if' scenarios so that you can determine the potential effect that future covered or non-covered earnings would have on your Social Security benefit rate.

Best, Jerry