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Our Windfall Elimination Provision (WEP) Online Calculator can tell you how your benefits may be affected. You will need to enter all your earnings taxed by Social Security into the WEP Online Calculator manually.
Use our WEP Online Calculator or download our Detailed Calculator to get an estimate of your benefits. WEP Examples. The Windfall Elimination Provision reduces your Eligibility Year (ELY) benefit amount before it is reduced or increased due to certain factors.
WEP Calculator. If you have a non-covered pension (from work where you didn’t pay SS taxes) and a Social Security benefit from other work where you did pay SS taxes, you need to understand the Windfall Elimination Provision.
The Windfall Elimination Provision (WEP) is simply a recalculation of your Social Security benefit if you also have a pension from “non-covered” work (no Social Security taxes paid). The normal Social Security calculation formula is substituted with a new calculation that results in a lower benefit amount.
May 21, 2024 · How to calculate the windfall elimination provision. Your Social Security retirement benefits are based on, among other things, how much you earned before retiring. The SSA first looks at...
The Windfall Elimination Provision (WEP) can affect how Social Security calculates your retirement or disability benefit. If you work for an employer who doesn’t withhold Social Security taxes from your salary, any retirement or disability pension you get from that work can reduce your Social Security benefits.
You can find a table that lists the amount of substantial earnings for each year at the bottom of the second page of our Windfall Elimination Provision fact sheet. Use the WEP Online Calculator to calculate your estimated retirement or disability benefits .
