Archive - October 13, 2020

1
Why is there WEP (Windfall Elimination Provision) in Social Security?

Why is there WEP (Windfall Elimination Provision) in Social Security?

WEP impact

During your career you may have worked for a governmental agency or a foreign employer where there was no Social Security tax withheld from your earnings (Job A). At the same time or at some other point, you may also have worked in a job that was covered by Social Security (Job B). The end result is that now you’re ready to retire, and you will collect a pension from the Job A, and you’re also eligible to collect Social Security benefits based on Job B. But the Social Security benefits are being reduced because of something called WEP – …

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login