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Your Pension Vs. Social Security
If you receive a government pension, your Social Security benefit may suffer a reduction due to a rule called the Windfall Elimination Provision. It pays to know how it works when you plan for your retirement income. This provision, or WEP, reduces your Social Security benefit when you receive a pension based on work where you did not pay Social Security taxes. The point of this rule is ostensibly to act as an offset, since the pension is intended to replaceSocial Security benefits for that worker. Read more…
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