By Reg Jones
Social Security and the windfall elimination provision
November 27th, 2012 | Uncategorized
Q. I have approximately 25 years of Social Security credit, five years less than the 30-year total, which would exempt me from a WEP-based Social Security reduction. I am now at full retirement age, collecting my Social Security with a WEP deduction, and also working full time in a position for which I am paying Social Security taxes. Is this year, and every additional year that I work and pay Social Security tax, added to my 25-year total; if so, is there a subsequent recalculation of my WEP deduction every year as I inch toward 30 years with no deduction to my Social Security at 30?
A. No.
Tags: RETIREMENT, SOCIAL SECURITY, WEP
Comments are closed.