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TheĀ Benefits Blog

The Benefits Blog provides expert insights, updates, and strategies on Social Security and Medicare, tailored for financial professionals looking to enhance their knowledge and better serve their clients. Stay informed with the latest developments and tips to maximize benefits for your clients.

Impact of Ohio SERS Lump Sum Distribution on Social Security Benefits government pension offset (gpo) hey marc! sers windfall elimination provision (wep) Sep 05, 2024

We have a client that is getting some advice from Ohio SERS regarding a lump sum distribution and its impact on her SSA benefits that I am not sure that I agree with. SERS is advising that she retire early to get the lump sum out prior to her benefit eligibility date.  They are claiming if...

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Handling Overpayment Due to Government Pension (WEP) Impact on Social Security hey marc! windfall elimination provision (wep) May 22, 2024

A client worked for the city for 35 years. He receives a sizable government pension.  Client just received a letter indicating that he is overpaid due to the government pension (WEP). Do you have any suggestions regarding repayment to SSA?. Client is 71 years old.

Your client’s...

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Will Working Longer Eliminate the Windfall Elimination Provision (WEP)? hey marc! windfall elimination provision (wep) Apr 17, 2024

I have a situation where someone has worked and is captured under WEP.  The client is currently 65, and believes that if he works another 6 years, he will collect his full SS benefits and government pension. 

Your client’s understanding that working another six years could allow...

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Impact of Remarriage and GPO on Survivor Benefits government pension offset (gpo) hey marc! survivor benefit widow benefit windfall elimination provision (wep) Jan 26, 2024

Can you clarify for me. 65 female is drawing survivor benefit from her deceased husband. She remarried after age 60 to a man that has non covered pension and when he retired he included survivor benefit for her on his pension. Will GPO apply to her current survivor benefit from deceased husband...

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Understanding How CalSTRS and Government Pensions Affect Social Security Benefits government pension offset (gpo) hey marc! windfall elimination provision (wep) Jan 17, 2024

One of our Social Security seminar attendees says she’s been told that her own Social Security benefit amount (from her own work record) will be reduced by half because her husband gets a pension from CalSTRS (teacher pension) due to Government Pension Offset rules (GPO).  It...

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Is a 403b Plan Without a Pension Subject to the Windfall Elimination Provision (WEP)? hey marc! windfall elimination provision (wep) Dec 05, 2023

My client, Beth, worked 20+ years in a Social Security-covered job but has spent the last 10 years with a non-profit affiliated with Ohio State University, with no Social Security withholding. The employer does not offer a pension plan and is not part of the Ohio Public Employees Retirement...

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Impact of PERA on Social Security Benefits government pension offset (gpo) hey marc! public employees' retirement association (pera) windfall elimination provision (wep) Aug 31, 2023

Chloe worked for the state and gets PERA.  Her Social Security report says she would get $746/mo benefit at age 62.   John will get $,2011/mo at age 62.  When we run Social Security Timing, the suggested timing is for John to take his social security at age 70 and Chloe as...

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How to Contest a Social Security Reduction Due to a Government Pension hey marc! windfall elimination provision (wep) Jun 08, 2023

I have the fire chief asking me how to contest the reduction in his SS due to his Gov’t pension. Is that even possible? He is single and retiring in 2024 will be age 59. He has worked and you already provided how his WEP reduction affects his benefit. 

If your fire chief client is...

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Understanding the WEP Reduction for Early Social Security Benefits full retirement age (fra) hey marc! windfall elimination provision (wep) Apr 28, 2023

How is WEP reduced benefit computed if beginning SS prior to FRA?

When calculating a Social Security benefit that is subject to the Windfall Elimination Provision (WEP) and is being taken before Full Retirement Age (FRA), the reduction is a two-step process. First, the WEP reduction amount is...

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Does a Refund from Texas Teachers Retirement Avoid GPO and WEP? government pension offset (gpo) hey marc! program operations manual system (poms) windfall elimination provision (wep) Dec 14, 2022

We have a client in Texas that is an educator, paying into the Texas State Teachers Retirement fund. She is planning to retire in 2025 and is being told by an advisor in Texas that if she takes a refund of her retirement account and makes a planned move to Arizona after retirement, this severs...

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