I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.
How are you today?
I hate to be the bearer of bad news, but your spousal benefit will be reduced more than your own benefit because of your SERS payment.
You see, your own benefits is subject to WEP which is a complex offset that only social security can calculate.
Your offset to your spousal benefit is called the Government Pension Offset. It's calculated by reducing your benefit by 2/3 of your pension received
So, your spousal benefit would be reduced by $667
Your WEP offset will not be that much.
So I'll get my $1,000 from SERS, plus my husband's SS benefit but subtract $667 from that amount.
That is correct
Also, since my expected SS benefit is only $600, since my reduction is $667, I'm assuming I would get no SS benefit at all if I were to take mine instead of my husbands.
Or you can get your benefit less the WEP offset
No, the $667 only applies to spousal benefits
There is another formula that is used to calculate the offset on your personal benefits
Okay, how do I figure out WEP offset or is that something they calculate for me?
But, they never reduce your own benefit by more than 50%
The WEP offset is a very complex calculation that social security will calculate for you.
It's not as simple as the pension offset for spousal benefits
But shouldn't be any less than $300 ($600 x 50%)
NO, should not be any lower than $300
If you would, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today
Will do thanks