You’ll then enter each year’s worth of “substantial earnings” into Social Security’s windfall elimination provision calculator to determine what your benefit is likely to be at various ages.

The Windfall Elimination Provision (WEP) can significantly impact your Social Security benefits if you receive a pension from ...

To avoid the WEP, you’ll need to work at least 30 years in a qualifying (Social Security-eligible) position with substantial earnings (for 2021, this is $26,500 or more).

This impact of the WEP is explained using the following example for someone turning 62 in 2024 who has more than 40 credits but less than 20 years of substantial Social Security covered earnings.

If you have 21 to 29 years of substantial earnings, Social Security will reduce the 90% factor to between 45% and 85%. The maximum reduction in 2025 is $613 a month.

Thus Social Security is, as designed, a program that redistributes income from higher-income households with to those with lower incomes. It is the largest income redistribution program in the ...

Social Security is designed to be contributory and progressive, meaning that benefits are based on how much individuals pay into the system as well as on their earning levels, so that lower-income ...

Dear Rusty: I don’t understand exactly how the Windfall Elimination Provision (WEP) works for my situation. I turned 62 in 2017 and am currently still working in a “non-covered” job, ...

The WEP reductions don’t apply if you paid Social Security payroll taxes for 30 years or more on substantial earnings, which have increased from $900 per year in 1937 to $29,700 per year in 2023.

The windfall elimination provision (WEP) reduces Social Security benefits for certain employees who may be double-dipping on a pension.

The windfall elimination provision (WEP) ... If you have 30 or more years of substantial earnings from a Social Security-eligible job, for example, you may receive 90% of your Social Security benefits ...