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Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16559
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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I am entitled to receive (minimum) social security from my

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I am entitled to receive (minimum) social security from my native country Germany. Will my american social security be cut accordingly?

MyVirtualCPA :

I realize you have a question about social security. My goal is to help you better understand your options.

MyVirtualCPA :

Do you have 30 years of substantial earnings from work in the US?

MyVirtualCPA :

If you have 30 years of earnings under US Social Security, then your benefit will NOT be impacted by the receipt of benefits for service that does not pay into social security.

MyVirtualCPA :

If you have less than 30 years, your benefits may be subject to the Windfall Elimination Provision

MyVirtualCPA :

If so, there is a very complex formula that is used to reduce your benefits to account for your foreign pension (social security)

MyVirtualCPA :

Social Security would be able to tell you how much your benefit would be impacted, or you can use a calculator available at www.ssa.gov

MyVirtualCPA :

http://www.ssa.gov/retire2/anyPiaWepjs04.htm

MyVirtualCPA :

Do you have any further questions?

Customer:

I have been working in the US for the past 19 years and will have accumulated 28 years once I turn 70. The German social security was earned before I moved to the US, and won't be more than $500. Will this still be regarded as windfall?

MyVirtualCPA :

Yes, but it won't impact your benefit by much since the amount is so small. You can use the calculator that I gave you above to estimate how much of an impact it has

MyVirtualCPA :

Do you have any further questions?

MyVirtualCPA :

If not, please let me know if I have provided you with excellent service today

Customer:

Yes you have. Thank you very much :-)

MyVirtualCPA :

You're welcome. If you would, please rate my response using the rating feature on the bottom of your screen

MyVirtualCPA :

Thanks again for using JustAnswer.com

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