Social Security

Ask social security questions and get answers ASAP

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

Windfall elimination. I am 66 years old and am still working…

Windfall elimination. I am...

Windfall elimination. I am 66 years old and am still working and paying into SS. I am not collecting SS. I am at the age where I can collect SS with out being penalized. My question is, I worked where SS wasntt taken out for 25 years. I changed jobs and now I am paying into SS. I trying to get in as many years as I can minimize the the monthly penalty. If I start collecting SS now and am at 25 years paying into SS on the Windfall Chart, will SS adjust the windfall monthly penalty if I keep working?

Accountant's Assistant: The Retirement Accountant will know how to help. Is there anything else the Retirement Accountant should be aware of?

Not that I am aware of to address this.

Show More
Show Less
Ask Your Own Social Security Question
Answered in 4 minutes by:
11/30/2017
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,255
Experience: Taxes, Immigration, Labor Relations
Verified

Yes - WEP - Windfall Elimination Provision reduction is less if you have more than 20 years of substantial earning subject to social security tax.

You may avoid WEP if you have at least 30 years in substantial earnings covered by social security taxes.

For 2017 the substantial earning amount is $23,625.

Ask Your Own Social Security Question
Customer reply replied 8 months ago
Understood. I want to know if I start collecting SS now and only have 24 years in paying the SS according to the windfall schedule, will SS adjust my windfall to 25 years if I keep on working/
Customer reply replied 8 months ago
Are you there Lev?

That is correct - the IRS will re-calculate your benefits every January and will use different WEP factor every year - plus will add additional earning - so you may expect your benefits to increase every year you will continue to work.

As you might know - social security benefits are based on 35 years of indexed earning for years you earned the most.
As you have less than 35 years - mussing years are included as zero earning.
Thus any additional year will result in larger benefits.

Ask Your Own Social Security Question
Customer reply replied 8 months ago
am I correct that at my age now of 66 I will not be penalized because I am still working and paying SS?
Customer reply replied 8 months ago
If what is your experience and education on SS matters that I can rely on if I can ask?
Customer reply replied 8 months ago
Hello

Yes - that is correct.

66 is your FRA - full retirement age.

Full retirement age is the age at which a person may first become entitled to full or unreduced retirement benefits.

That means - your benefits will NOT be affected regardless how much you earn.

However - you may delay your benefits - and they will continue to grow 8% up to age 70 - and that will be in additional to WEP factor reduction and additional earning.
.

You may review my records here

https://www.justanswer.com/finance/expert-lev-tax/questions.html

If you have any doubts for particular issues - I will provide references to SSA documents.

I will be happy to address all your concerns.

Ask Your Own Social Security Question
Customer reply replied 8 months ago
Wouldnt the monthly SS benefit grow automatically if I am still working and paying SS. Meaning I retire and receive lets say $1200 a month at 66 years of age. I work and keep paying in until 69 years of age and quit my job. Wont the SS increase each year up to 69?
Customer reply replied 8 months ago
or would I have to wait unitil 69 to get the increase?

Yes - the IRS will recalculate your benefits every January for the annual increase.

You do not have to delay to have these recalculations.
So - because you have less than 35 years working under social security - any additional year of earning will be added and will increase your benefits.

In additional - if you will have substantial earning - that will affect your WEP factor - and will result additional increase.

And finally - there will be COLA adjustment as for all other retirees.

If you choose to delay retirement benefits belong your FRA - you will have additional increase 8% year year (up to age 70).

Ask Your Own Social Security Question
Customer reply replied 8 months ago
Ok thank you have a great day

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all Social Security / Tax related issues.

lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,255
Experience: Taxes, Immigration, Labor Relations
Verified
lev-tax and 87 other Social Security Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a social security expertLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask lev-tax Your Own Question
lev-tax
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,255
33,255 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

lev-tax is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

dylatess

dylatess

ATTORNEY

3,467 satisfied customers

37 plus years of SSD practice

Megan C

Megan C

Certified Public Accountant (CPA)

4,582 satisfied customers

Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level

LawTalk

LawTalk

Attorney

3,071 satisfied customers

I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.

R. Klein, EA

R. Klein, EA

Accountant

334 satisfied customers

Tax & Social Security Benefits specialist

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

233 satisfied customers

Licensed in multiple jurisdictions, experienced business attorney.

AttorneyTom

AttorneyTom

Attorney

16 satisfied customers

Attorney

Stephanie O Joy, Esq

Stephanie O Joy, Esq

Soc. Sec. Attorney

3,283 satisfied customers

22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.

< Previous | Next >

Related Social Security Questions
I am 72, working full time and collecting SS checks. If I
I am 72, working full time and collecting SS checks. If I will stop taking SS for a while, will my further benefit grow?Or will I ever see the money that I will not collect during the break? … read more
Christopher B, Esq.
Christopher B, Esq.
Attorney
Juris Doctor
2,175 satisfied customers
I am 63 years old and took early SS. I am needing to return
Hello. I am 63 years old and took early SS. I am needing to return to and am wondering the options I have for working and SS … read more
Christopher B, Esq.
Christopher B, Esq.
Attorney
Juris Doctor
2,175 satisfied customers
I am 71 years old and retired from a 31 year federal
I am 71 years old and retired from a 31 year federal government job in 1995 receiving an annuity ever since. I paid in to social security on various jobs before and during my federal employment. I hav… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,441 satisfied customers
My facts: Retired from Superior Court with 13.5 years of ss.
My facts: Retired from Superior Court with 13.5 years of ss. Currently working for Federal govt and planning to retire at age 66 with 15 years of ss. I draw pensions from both. According to the 30 yea… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
47 satisfied customers
I am 66 years of age and still working. My husband receives
I am 66 years of age and still working. My husband receives railroad retirement. Will I be docked if I claim my social security or his railroad retirement if I keep working? Also I will have a State o… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
I am applying on line the form to collect my S.S. I came to
I am applying on line the form to collect my S.S. I came to the question if I ever worked and taxes were not taken out of my check. When I was younger I was a waitress and paid a low wage and taxes we… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
I will be 66 next month. I worked federal government
I will be 66 next month. I worked for the federal government for 15 years and receive a federal pension so I fall under the windfall elimination act. I have worked an additional 25 years and would nee… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
I am receiving Social Security Survivor benefit and am a CSRS
I am receiving Social Security Survivor benefit and am a CSRS offset retiree with over 30 years of service. I just turned 62 and the monthly pay from my federal pension dropped. (Now a portion will co… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
I get a 2.00 widowers benefit from a husband who died at the
I get a 2.00 widowers benefit from a husband who died at the age of 64 and received two checks because he died. I am penalized because he applied for his social security before age 66 because he was i… read more
Stephanie O Joy, Esq
Stephanie O Joy, Esq
Soc. Sec. Attorney
Doctoral Degree
3,283 satisfied customers
In 1996, at age 46, I moved from Canada and became a permanent
In 1996, at age 46, I moved from Canada and became a permanent resident of the USA. Now I'm about to retire and in January when I turn 65 I'm eligible to receive Social Security retirement benefits al… read more
lev-tax
lev-tax
Tax Advisor
Bachelor's Degree Equivalent
33,255 satisfied customers
I worked for the Hawaii County Fire Dept from 1967 - 2000 and
I worked for the Hawaii County Fire Dept from 1967 - 2000 and worked a full-time job for 2 yrs before the fire dept. and continued working part-time jobs to earn social security credits (forty quarter… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
4,582 satisfied customers
I am currently a police officer and not paying into social
I am currently a police officer and not paying into social security with my dept. we do have perf pensions. Before I got this job I worked other jobs where I worked enough quarters to get social secur… read more
LawTalk
LawTalk
Attorney
Juris Doctor
3,071 satisfied customers
I am a retired public school teacher (TRS---Texas Retirement
I am a retired public school teacher (TRS---Texas Retirement System) and won't draw on my social security until I'm 66 (60 now). I've been told by other teachers that there will be an offset that will… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
If I leave my job in Ohio and resign my position. Withdraw
If I leave my job in Ohio and resign my position. Withdraw my portion of my retirement with the State Employees Retirement System, will I then be eligible to receive my full retirement from SS when I … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,441 satisfied customers
I am 56 and have been teaching for 19 years now. I am was
I am 56 and have been teaching for 19 years now. I am was wanting to know if I cash in my teacher retirement and pay off my house will I be entitled to the full amount of my social security income? I … read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
I began working at my first pensioned job at age 45. Up till
I began working at my first pensioned job at age 45. Up till that age, I had worked every year since age 16, at jobs that paid into Social Security. When I retire, will I be able to collect both the p… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,441 satisfied customers
I worked in the public sector for 37 years and now I am a
I worked in the public sector for 37 years and now I am a teacher, I only taught for 12 years. I will be receiving Para retirement from Denver Public Schools. Can I also receive Social Security for al… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
I am 54 yrs. old. My husband is 52. My husband makes more of
I am 54 yrs. old. My husband is 52. My husband makes more of a salary than I do. We have both paid into social security for 35+ years. I am contemplating taking a new job in a school, which has the SE… read more
dylatess
dylatess
ATTORNEY
JD
3,467 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x