Were you surprised by the WEP? You mention it often. I would have assumed you would have been aware of it when Social Security Taxes were not being taken out of your pay. And I would also assume that your current pension is higher than your Social Security would have been if you had that instead. It is frustrating that you can’t get the same spousal benefit that your would have if you had never worked, but I’m going to guess that is also much lower than your pension. I could be wrong, but I think even though you are subject to WEP and GPO you are better off than if you had never worked.
1 Like
I’m fine…as long as I outlive my husband. His SS benefit will simply stop when he dies. He gets 50% of my pension if I die first.
Yes, I fully understood WEP and GPO, but that doesn’t mean I think it’s right.
4 Likes
I’m not @thumper1 and I don’t know her situation but I’ll provide another bit of angle of the pension vs SS/WEP situation. I’m sure we’ve talked about it here before but also it’s all confusing.
I worked from age 16ish or so until about age 40 working and paying into SS. Around age 40 got a job that is a state job and have worked that for about 25 years. I’m planning to retire from my pension job end of this year. (will be working another non-pension job perhaps part time starting in 2025 but let’s put that aside).
I won’t be fully vested in the pension job (need 30 years) to get “full” pension, BUT I’ll be making enough that at this point - age 65 - my pension would wipe out any SS I might get due to WEP. If I wait until FRA - 66.10 years for me - I MAY get a little SS with my pension.
Point being, it’s sort of like those years working in SS (about 15) don’t count for anything!
So yeah, a little frustrating that the WEP basically wipes all input into SS out.
Not complaining, just explaining. 
(I’m actually now thinking that I wonder if I work part time starting 2025 and paying into SS for a year or two if that will help me perhaps get a little more SS at FRA, 66 years and 10 months)
My H has very little time paying into SS and is full pension. So no benefits for me from him via SS.
5 Likes
I know exactly how WEP works, thanks. It never reduces your Social Security by more than half of your pension, and the current max is $587. But it all depends on how many years of “substantial earning” you have and all that is clearly laid out by the IRS. For those who read all the complaints about it, this document explains why it is the way it is. https://www-origin.ssa.gov/pubs/EN-05-10045.pdf
If you haven’t paid in, you don’t get benefits. And if you had taken the roughly 12% that others have taken from pay into Social Security and invested in for the past 25 years you probably would have a nice amount.
1 Like
Was simply trying to explain a situation. But, you’re the expert!
Perhaps my comments will help someone else understand or see how it works in a simple manner.
5 Likes
That does seem frustrating, that the years you put into paying SS won’t end up counting. It would be one thing if you never paid into it, you wouldn’t expect to receive a benefit. But the fact that you did for many years, seems quite irrelevant that you’re getting another pension, it shouldn’t wipe out your benefits. It’s too complicated for me to figure out (and not something I’ll ever need to know) , but on the face of it, that does sound unfair.
What is the bad side for myself?
Thank you @blueberriesforsal for the eyeglasses purchasing tip!
1 Like
I was excited to see that EyeBuyDirect showed clip on sunglasses (a $170 option at the optician shop at my eye doctor). Alas, they are all out of stock.
2 Likes
I bought these for less than $10 from Amazon a couple of years ago.
https://amazon.com/gp/product/B00DS5PFGI/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&th=1
I think I also saw them in chain drugstores and Target in spring and summer.
2 Likes
It’s been a few years since we updated our wills/trust. Nothing has really changed - kids ar still single. We had specified that our D be the executor of the will/trust - wondering if we should change that and make both D and S joint executors. Any pros/cons?
joint executors may mean they need to be at the same place at the same time to get stuff done - keeping it as one is probably simpler.
2 Likes
the general recommendation is to only have one executor. Too many things require signatures, notary, etc, so multiple signers means that they all have to show up together.
3 Likes
@arisamp, maybe ask them both? Write a mechanism into the documents for a mechanism for them to choose which one of them (rock, paper,scissors? lol) if there is no obvious choice between them when the time comes?
1 Like
Is it true that they have to be in the same place at the same time? This week, me and my sibs signed legal documents electronically.
1 Like
When we went to a will planning/writing class (with lawyer, notary), the advise was a single executor. Things can get complicated otherwise. Of course you should also name an and alternate / contingent.
In our case, spouse is executor…. eldest (and local) child is contingent. After one of us passes, I assume rewrite will make eldest child executor, younger child continent.
it all depends on the vendor. Their account, their rules. If they require ‘wet’ signatures, they require wet signatures.
2 Likes
Yes with your H not having paid much in with SS, you are not in the same situation. I bet you would feel wronged if you were in the shoes where H has a big SS amount, and if he died first, you would get nothing. Most likely you will have some payout from H’s pension if you chose to go that way if you outlive H.
1 Like
I have a Blue Cross Blue Shield Medicare Supplemental Plan and Blue Cross Blue Shield Medex plan for drug coverage (Part D). I pay for the lowest level of drug coverage, which means I have a $500-something deductible. I only need two drugs (eye drops) and one drug is Tier 4 in the BCBS formulary, which means it’s not covered. The drug that isn’t covered costs $270 per month. The last time I went to the pharmacy, the owner (this is a local, independent store not part of a chain) said he thought he could get me a lower price. He came back with a price of $52 and said it was because he didn’t put it through my insurance. I’m not complaining, but my question is how does this happen? If you take a drug that’s not covered by the insurer’s formulary are you just out of luck?
3 Likes
We recently had our estate plans updated. Our kids live 2500 miles apart, and our estate lawyer said that this is not a problem as long as they agree. So much is done electronically now.
So…our kids are co-executors of our estates (for the second one of us that dies).
Adding…I was the executor for my mother who died in 2003. She had a number of accounts etc in Ohio. I live in CT. I never had to sign anything in person. Not one thing!
3 Likes