Many public employees have been told that they will not receive their Social Security benefit because of their Ohio Public Pension (STRS/OPERS). This is NOT true. If you will receive or are receiving an Ohio public pension your Social Security benefit will be subject to the Windfall Elimination Provision (WEP) http://www.socialsecurity.gov/retire2/wep.htm. This assumes you qualify for a Social Security benefit in the first place, which requires ten years or 40 quarters of service in the private sector.
The WEP will reduce your Social Security benefit but it will NOT reduce your public pension. The reduction factors imposed on public pensioners varies based on the number of “years of substantial earnings”. The chart at the bottom of this page represents the approximate percentage you will receive of your Social Security benefit.
While this chart makes your benefit amount easier to understand, we can provide you a more accurate estimate of the WEP impact on your Social Security benefit.
If you are eligible for your spouse’s Social Security benefit and are receiving a public pension you will be subject to the Government Pension Offset (GPO) http://www.socialsecurity.gov/retire2/gpo-calc.htm.
|Years of Substantial Earnings||Percentage|
|30 or more||90%|
|20 or less||40%|