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How State pensions can affect Social Security
Unfortunately for the employees of about 15 U.S. States, pensions from their State employment can have a pretty devastating affect on any Social Security benefits they may also be entitled to receive. Those who earn a pension from a State which doesn’t participate in the Social Security program and who also have enough other work credits to earn a Social Security retirement benefit will see their Social Security payment reduced by a rule called the Windfall Elimination Provision, or “WEP”. If those same employees are only eligible for spousal or survivor’s benefits, they will see their potential Social Security benefit either drastically reduced or even eliminated by another rule called the Government Pension Offset, or GPO. In this column appearing in USA Today, contributor Robert Powell discusses both WEP and GPO, and also answers two other questions about Social Security. Click here to read more.
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