Monday, November 18, 2024

What is the Windfall Elimination Provision (WEP)?

What is the Windfall Elimination Provision (WEP)?

Snippet of Article: "...The Windfall Elimination Provision (WEP) is a formula used to adjust Social Security worker benefits for people who receive “non-covered pensions” and qualify for Social Security benefits based on other Social Security–covered earnings. a A non-covered pension is a pension paid by an employer that does not withhold Social Security taxes from your salary, typically, state and local governments or non-U.S. employers. ..."

Source: www.ssa.gov

What is the Windfall Elimination Provision (WEP)?