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How a government pension might reduce your Social Security benefits
They are not always well known, and they are even less well understood. They are the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). Enacted by Congress in 1977 and 1983 respectively, both were meant to bring a measure of fairness to the Social Security benefits received by individuals who contributed less to the system in their working years because they predominately worked in public sector jobs where they did not contribute Social Security payroll taxes. Jim Miller’s full piece here explains how WEP and GPO are applied and their effect on Social Security beneficiaries.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.