WEP and substantial earnings

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Q. I am affected by Windfall Elimination Provision but am also eligible for Social Security. Is the dollar amount for “substantial earnings” the dollar amount on the W-2 under Social Security wages, or is the dollar amount listed in the section for wages, tips and other compensation? I have looked at the Social Security Administration brochure on WEP, and it never states specifically. It makes a difference.

A. You should use the column headed “Your Taxed Social Security Earnings” from Page 3 of Your Social Security statement. This statement is available for download from SSA.gov.

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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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