Non-Covered Pension - WEP / GPO

Hello Larry and Jerry

Thanks for your previous good advice on the effects a UK state pension has on WEP. I see there is legislation being proposed to discontinue WEP. What's your thoughts on the chances of it passing? And would it be advantageous to a UK state pension beneficiary?

I read conflicting reports on the maximum rates of WEP. is it a maximum of 50% of the UK state pension?

Is my entitlement to SS affected by the fact I have now given up my green card and "expatriated" to UK and Australia.

Thanks

Clive

Hi Clive,

You answered my question on July 4th and gave me a link to the supporting SSA document. However, the section (D. 1) that says you convert the foreign pension to US dollars was under "Procedure - Non-Totalization Pensions". The CPP is part of the Totalization Agreement. Does it still apply? I still cannot find anywhere where SSA designates that. To review, my initial question to you was titled Is the WEP Gurantee based on US Dollars

Hi,

Hi Larry, I will be receiving a local government pension for which I did not pay into Social Security. My wife does not have a pension, and will rely on what she has paid into Social Security. If I die and she assumes my pension, will that affect her Social Security income, or is she entitled to Social Security regardless of the pension because she paid into it separately?
Thank you, Doug

Hi Doug,

The WEP guarantee says the reduction to my Social Security benefit cannot be more than 50% of my non-covered pension. My non-covered pension is the Canadian Pension Plan. Is that guarantee applied to the CPP converted to US dollars? For example, I worked less than 20 years in the US, but more than 20 years in Canada. Let's say my CPP is $800 (Canadian) which with the exchange rate is $584 (US). So is the WEP guarantee based on 50% of the $800 (Canadian) or $584 (US)? I cannot find anywhere in the SS documents that specifies whether I should convert my CPP to US dollars or not.

My husband and I are getting divorced. He will receive a teacher's pension (non contributing to SS) when he retires, and as part of our settlement, I will also receive part of the pension. I have my own SS benefits, as I have worked in traditional jobs and paid into SS. He also worked for about 10 years in the corporate world and paid into SS. I understand that his SS benefits will be reduced because of WEP. My question is - will MY SS benefits that I earned on my own be subject to WEP also, because I will be receiving part of his pension when he retires?

If subject to WEP, would rolling a 403b(pension) to an IRA avoid WEP reduction of social security benefit? And if rolled to an IRA, would age 72 RMDS trigger any WEP reduction?

Hi,

I have a 401A plan with STRS, contributing for the past 10 years. Prior to that I paid into social security. My question is will having the 401A plan affect my social security benefits?
Thank you

Hi,

Does being retired on a disability from a non-covered Social Security employer affect the WEP provisions?

Hi,

I am Collecting a Gov't Civil Service Pension My Wife Will Be Retiring At 66 years old. Will I Be Able To Collect Part Of Her Social Security Pension.

Hi,

Non-Covered Pension - WEP/GPO