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Social Security Windfall Elimination Provision (WEP)
Social Security Windfall Elimination Provision (WEP)

This article explains how to model Social Security Benefits reduced by WEP in My Plan.

Nancy Gates avatar
Written by Nancy Gates
Updated over a week ago

WEP

The Windfall Elimination Provision

The WEP applies to most people who receive both a pension from non-covered work and Social Security benefits based on fewer than 30 years of substantial earnings in covered employment or self-employment.

Many people don't know this, but your Social Security statement does not reflect any reduction in benefits due to WEP. The Social Security Administration will wait until you file to tell you how your benefit will be reduced. Until then the best way to project your benefit is navigating over to SSA.Gov and using the WEP calculator or calling the Social Security Administration.

Once you know your benefit, we recommend that you disable our Social Security calculations and model your benefits as a pension in My Plan > Income > Pensions.

Follow these steps:

STEP 1: Head on over to My Plan > Income > Pensions

STEP 2: Press Add a Pension +

STEP 3: Enter a descriptive name, Social Security Subject to WEP for example

STEP 4: Enter your monthly benefit

STEP 5: Enter the start and stop ages

STEP 6: Adjust the optimistic and pessimistic growth rates to match your Social Security COLA assumptions

STEP 7: Select the appropriate tax treatment

STEP 8: Save

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