Ask Larry

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.

Also, the maximization software available on this website is programmed to handle the effects of WEP on Social Security benefit rates, so you may want to consider using that option.

Best, Jerry

Posted: 
Nov 25 2016 - 12:45pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.