Windfall Elimination Provision and Government Pension Offset-Windfall Elimination Provision and Government Pension Offset

Windfall Elimination Provision and Government Pension Offset

Video Transcription

Video Summary

In this video, Yvette from AARP discusses two Social Security rules: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). The WEP reduces Social Security retirement benefits for individuals who receive a pension from non-covered employment where they did not pay Social Security taxes. The reduction can be up to half of the pension amount, but never reduces the benefit to zero. The GPO affects Social Security benefits for spouses, widows, and divorced spouses who are eligible for two benefits. The GPO offsets the benefits one can collect on a spouse's record based on the amount of their non-covered government pension.

Keywords

Yvette

AARP

Social Security rules

Windfall Elimination Provision

Government Pension Offset