Your STRS or OPERS and Social Security

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%
29 85%
28 80%
27 75%
26 70%
25 65%
24 60%
23 55%
22 50%
21 45%
20 or less 40%

 

Securities and advisory services offered through Cetera Advisors LLC, member FINRA, SIPC. Cetera is under separate ownership from any other named entity.

This site is published for residents of the United States only. Financial Advisors of Cetera Advisors LLC, may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Advisors LLC site at www.ceteraadvisors.com.

Our Office of Supervisory Jurisdiction is located at:

137 Wilber Dr. NW, North Canton, OH 44720

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