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DISCLAIMER - THIS WEBSITE IS NOT ENDORSED BY OR AFFILIATED WITH THE U.S. SOCIAL SECURITY ADMINISTRATION , OR ANY GOVERNMENTAL ENTITY.
 Carol Thomas has recently retired from the Social Security Administration after 28 years service. If you have any questions about Social Security, please ask. We will use the questions you send for future posts. I will never post anyone's name, or other identifiable information.
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| 401a and WEP |
Date Add : 06-29-2009
| Views : 377
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I am with a special district for 10 years with a 401a defined contribution plan and they pay 10% and I pay 9% and this replaces the SS contribution. Is this under WEP? If I do a rollover IRA when leaving here can I avoid a WEP penalty? Or can I take all of my distributions in approx 5 years, deplete the account and then apply for SS so I don't have to report WEP funds. Considering that I have no idea how much I will take out of this account at retirement or how long it will last so how do I avoid getting my social security benefits reduced. I only have 21 years in because of raising children and then a divorce. Any reduction would hurt.
Support Replied ~ 06-22-2009 22:21:46
Dear Patt:
According to what I believe and had verified by a call to the ss office, as long as you are not receiving a pension at the time you file for SS there will be no WEP.
Those are the laws at the moment.....Carol
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"Social Security Advisor" is intended to provide accurate and authoritative information with regard to the subject matter covered. It is offered with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, investment or other professional advice or services.
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