Ask Larry

Non-Covered Pension - WEP / GPO

How Much Will WEP Increase If I Wait Past FRA To Start Drawing My Benefits?

I am going to be hit with the Windfall Provision when I file for social security. I am currently at FRA however I recently found out that by delaying my filing date to get the 8% annual increase the Windfall Provision also goes up.
I have been unable to find out how much WEP will increase each year. I have used the your Software but that doesn't clearly spell this out. Will the Windfall increase cancel out the 8% increase? Is it worth delaying filing only to have the Windfall increase? Thanks

Hi,

Posted: 
Wednesday, August 19, 2020 - 17:22

Is It True That My Social Security Amount Will Be Reduced If I Receive PERS Retirement?

Larry. I am a retired NV teacher in the (marvelous) PERS retirement system. I worked enough summer jobs and NV National Guard to qualify for about $900 when I turn 66.2 years old. The rumor mill out here claims that I’ll only get about $300 monthly from Social Security because I’m receiving PERS money. Please, tell me the rumor mill is wrong !!!!!

Hi,

Posted: 
Monday, August 17, 2020 - 09:21

Will My Retirement Benefits From Brazil Reduce My Benefits In The USA Or Make Me Ineligible?

I have worked in Brazil and US. I am receiving retirement benefits from Brazil and now have filed in the US. They requested that I file for SSA795 and also send documents proving amounts received in Brazil.
Will this reduce my benefits in the USA or cause it to be denied?

Hi,

Posted: 
Wednesday, August 12, 2020 - 10:05

Can My Social Security Pension Be Reduced If I Receive Pensions From Work That I Did Before Coming To The U.S.?

Larry,
I came to the US 25 years ago after marrying an American woman.
I receive pensions from employment before I was either a Green Card holder or a US citizen. Can my Social security pension be reduced because of this?
Thanks

Hi,

Posted: 
Saturday, August 8, 2020 - 17:30

Do I Have To Choose Which Pension To Receive, Or Is There A Deduction?

Harry. I am a physician with dual citizenship ( American /Lebanese). I have worked 5 years in the state and 15 years in Lebanon and I am always paying social security even while working overseas. When I retire, I get a retirement from both countries as I pay both. Do I have to chose which one to get paid from or is there a deduction?
Mary Ann

Hi Mary Ann,

Posted: 
Saturday, August 8, 2020 - 11:34

Should I Appeal The Calculation Of My Benefit Rate?

Larry,
I worked from 1971 until 1998 in the private sector and healthcare, with my qualifying quarters satisfied. At 41 years of age, I became a police officer for a southern US city that did not withdraw FICA. I did work at several second jobs through 2012 that DID deduct FICA. In 2017 , I was injured in the line of duty and was retired with a pension.
In 2018, I started SS benefits, but penalized under the WEP.

Posted: 
Tuesday, August 4, 2020 - 09:40

Is It Correct That WEP Wouldn't Apply To Spousal Benefits?

This month I'm the full retirement age of 66, and I'm currently receiving a government pension, but I haven't retired through SS. My husband retired at 65 years of age, 7 years ago. His monthly SS benefits is $2,612 and according to my SS statement, my monthly amount at the age of 66 would be $997 before WEP. Since I was born after January 2, 1954, it is my understanding that I can't apply under my husbands record, and suspend filing on my record until I'm 70 years of age. But, I read your response someone else today that said something to the contrary.

Posted: 
Monday, August 3, 2020 - 10:52
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.
$40 Annual Household License
$250 Annual Financial Advisor License