The Government Pension Offset - APWU Iowa
The Government Pension Offset
By John Grobe
Thursday, October 11, 2007
You can have daily headlines from delivered right to your desktop each business morning. The service is free and you don't get junk e-mail as the price of your subscription. Just visit our newsletter page to sign up!
John Grobe is a retired federal employee with over 25 years of experience in federal human resources and President of Federal Career Experts, a training and consulting firm that specializes in federal employee retirement and career transition issues.
A short time ago, FedSmith posted two articles that I wrote about the Windfall Elimination Penalty (WEP). One article was about the penalty in general, and one was about how it affected CSRS Offset employees/retirees. In this article, we will take a look at the Government Pension Offset (GPO).
Like the WEP, the GPO affects anyone who is receiving a pension from work not covered by Social Security. That would be any one who is CSRS, CSRS Offset, or a FERS employee who transferred from CSRS. The good news for CSRS Offset or FERS transferees is that they become exempt from the GPO after working five years under CSRS Offset or FERS. In fact, folks who transferred to FERS during the first open season were immediately exempt from the GPO.
Unlike the WEP, which reduces the Social Security you have earned on your own account, the GPO reduces the Social Security to which you are entitled on the account of another (i.e., spousal or survivor benefits). Actually, reduces is far too mild a word. In almost every situation the GPO eliminates any spousal or survivor benefit to which you might be entitled.
The Social Security spousal or survivor benefit to which you are entitled through a living or deceased spouse is reduced $2 for every $3 of your CSRS pension. Your benefit is likely to be totally eliminated due the fact that your CSRS pension is likely to be significantly greater than any spousal benefit (max = 50% of your spouse's SS) or survivor benefit (max = 100% of your deceased spouse's SS).
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- social security fairness
- 19 states offsetting social security chicago tribune
- social security fairness repeal the gpo and wep
- training course important information for state
- pensions exempt pay may lower social security benefits
- what everyone needs to know about social security
- statement concerning your employment in a job
- the government pension offset apwu iowa
Related searches
- is the government a business
- should the government be involved in economy
- is the government necessary
- the hartford pension plan
- the government and the economy
- why is the government necessary
- why is the government important
- should the government regulate businesses
- what are the two pension benefit formulas
- what is the government for kids
- quotes about the government control
- is a government pension taxable