Clients who expect to receive a Social Security benefit and a government pension may see their Social Security benefit reduced due to the Windfall Elimination Provision.
To help make the conversation with clients easier, we have created the “Will I Avoid The Social Security Windfall Elimination Provision” flowchart. It addresses some of the most common issues that arise for a client trying to understand the Windfall Elimination Provision (WEP). This flowchart considers the following:
- Impact of hiring date
- Pensions that trigger the WEP
- Substantial earning test
- Importance of age 62
- WEP calculation
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.