I was married almost 30 years, most of which was spent at home raising our four children. My ex was self employed as a lawyer and worked as a teacher for about 8 years. I now receive half of his teachers pension of about 800.00 a month, I've been working since the divorce and my ss benefits will be about 1200.00 month if I work till I'm 70. I will be 63 this year and my ex will be 60. The local SS office told me my ss benefits wouldn't be penalized because the school pension was awarded in a divorce settlement. Is this true?
Non-Covered Pension - WEP / GPO
I'am entitled to social security but I'am subject to the WEP provision. Does it matter when to take your social security at 62 or full retirement at 66 if I'am subject to the WEP provision? I'am currently working, so does it matter if I take It now at 62 or wait until I'am 66?
Hi, I will retire and receive a pension from the Texas Teacher Retirement system in two years. My pension will be based on 30 years total earning history. The first half of my career I did not pay into Social Security, the second half I did. For WEP purposes, will my pension be considered "non-covered" or "covered"? How do they figure that? I can find no answer anywhere to this question and so would really appreciate any help. Thanks, Harry
Hi, I retired August 2004 at 50 years old and started a city pension. After 10 year in 2014 I got divorced. She got 1/2 my pension. If I remarry will my new wife suffer from WEP and GPO. She is 49 in 2016 and will be working until she is 62 in 2029? Where do I find the expert software, and where can I find your books? Thanks, Patrick
Hi Larry, I was born in 1955, my ex-husband in 1956. We were married for 30 years. We both contributed to SS, but I do not have 30 years of substantial earnings. I now have a low paying state job and am going to have a government pension. My PIA is low, my pension will also be very low. From what I understand, I will get hit with WEP and GPO once I retire. I am wondering if I should file early at 62 and collect SS before I retire, since it will be reduced by 60% anyway once I do retire. Do I have this right? It doesn't seem fair.
Larry, is there a way I can avoid the Wage Equalization Payment (WEP). I collect Canada Pension Plan and will collect Old Age Security (in one year) from Canada and I understand that my Social Security benefits will be reduced by an amount not known right now when I start to collect Social Security benefits when I turn 66 (in 2 years from now). If I can't avoid, how can I find out how much it will be reduced?
Is It Better a Spouse Not Earn 40 Credits Due to WEP?
My wife (born Oct. 1952) has been employed as a teacher for over 30 years in several US and international school systems. After ten years of teaching in Texas, she took her Texas Retirement System (TRS) amount of $604/month when we moved out of state for new employment. Some of her other employment settings contributed to Social Security and she now has 37 credits.
I have beyond 40 credits (born Nov. 1952) and my SSA account currently estimates I will receive $1699/month at FRA in Nov. 2018.
I retired 2016 and started collecting my social security benefit at age 66. I have been a permanent resident in U.S. for 20 years. Prior to that I lived in Australia where I eaned a pension benefit via Public Sector superannualtion scheme which I started withdrawing last year. When I applied for Social Security they reduced my monthly benefit due to the Australian pension using some type of formula. Why are they allowed to do this for a pension a pension I contributed and earned in Australia?
I'm 68, very healthy, with a history of longevity in my family. I'm receiving a spousal benefit. My husband decided to file at age 66, because his family history is not as good. I receive a reduced spousal benefit and am told I will receive a reduced SS benefit due to the Windfall Elimination Program. No one in the office where I've gone seems to understand this...and I've tried to read and understand it...but it doesn't make sense. The benefit I receive is nominal from a short stint teaching in CA...and the way I see it, that is my money that I contributed and am now due.