I have not bought your software yet but am thinking I may have questions or need a consultation after I run the numbers. Do you offer consultation, what is the cost, and if I just have one or two questions to ask in this fashion, is there a cost?

My biggest question is about WEP. I worked at a hospital for 20 years and I paid into National Security, not Social Security. I don't get a pension from it, but I do have it in an IRA-type account. Will I be subject to the WEP reduction of SS payments and is there a way of getting around it, such as filing spousal support?

Thanks

Hi. If you subscribe to our software you can submit an unlimited number of questions using online contact forms in the help menu. Your questions will then be answered by one of our experts with access to the data that input into the software program. We don't, however, offer anything such as phone or in-person consultations.

It sounds like the savings plan you describe would probably make you at least potentially subject to having your benefit rate reduced due to the Windfall Elimination Provision (WEP), but I can't be sure without more information. Payments received from defined contribution plans (e.g., 401(k), 403(b), or 457 plans) based on employment where your wages are exempt from Social Security taxes are considered a pension subject to WEP regardless of the source of contributions (employer only, employee only, or a combination of both), if the plan is the employer's primary retirement plan. If the plan is a supplemental plan, the payments are subject to WEP when the plan payments contain employer or both employer and employee contributions (https://secure.ssa.gov/apps10/poms.nsf/lnx/0300605364).

You can apply for spousal benefits if your spouse is drawing Social Security retirement or disability benefits, but if you were born after January 1 1954 you can't file for spousal benefits without filing for your own benefits at the same time. You could then basically just qualify for the higher of the 2 benefit rates. Also, if the hospital were you worked was run by a local, county, state or federal government employer, then your savings plan could cause any spousal benefits for which you'd qualify to be either partially of fully offset due to the Government Pension Offset (GPO) provision (https://www.ssa.gov/pubs/EN-05-10007.pdf).

Our software (https://maximizemysocialsecurity.com/purchase) is fully programmed to handle calculations involving WEP and GPO, so you should strongly consider using the software to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.

Best, Jerry