Q: I’m a disabled federal retiree drawing a federal retirement. I paid into Social Security while on National Guard status for 30 years. I’m currently working and paying into Social Security and will have enough quarters to draw Social Security payments at age 62. I understand there is an offset that will apply to my retirement. I have received a Social Security statement every year; my past statement shows I will draw around $750 at age 62. Is this my retirement amount after the offset, or do I need to reduce this amount by the offset amount? If that’s the case, what would the total amount be?
A: You are referring to the windfall elimination provision, which reduces the Social Security benefit of anyone receiving an annuity, in whole or part, from a retirement system, such as the Civil Service Retirement System, into which he didn’t pay Social Security taxes. To find out more about the WEP, visit the Social Security Administration’s Government Employee page. Once there, you can use SSA’s online calculator to see how the WEP would affect you. There’s an easier-to-use calculator here.