Social Security WEP reform passed - do substantial earnings years still matter at 68?

The WEP/GPO elimination is huge news for folks like you! But there's some confusion here - substantial earnings years were specifically a WEP concept. They determined how much your Social Security would be reduced under the old WEP formula. With WEP gone, substantial earnings years no longer matter for that purpose. However, your earnings history still matters for your overall benefit calculation, just like anyone else. The decision to wait until 70 should now be based simply on maximizing your lifetime benefits, not trying to reduce a WEP penalty that no longer exists. If you've already made it to 68.5, the additional 8% per year delayed retirement credits for waiting until 70 might still make waiting worthwhile.

congrats on the pention reform!!!! i had same problem with my husban's teachin pension. we waited 4ever and finally don't have to worry bout that WEP stuff. i think u shud take SS now cuz why wait if theres no penalty anymore??? but thats just me lol

I JUST went through this exact situation! First of all, I'm THRILLED about the WEP/GPO repeal - I've been fighting this for YEARS as a retired firefighter with a pension. The substantial earnings years don't matter anymore for WEP reduction, BUT still think carefully about claiming early. I decided to wait till 70 even after the repeal because of the 8% annual increase, and I expect to live into my 90s like both my parents. Have you calculated your break-even point? The SSA website calculator doesn't factor in the WEP/GPO changes yet - it's still showing the reduced amount for me!

This whole WEP/GPO thing has been a nightmare. Glad it's gone but too late for me - already took SS at 62 because I couldn't afford to wait with the WEP reduction. Would've done things differently if I'd known this was coming. Just my luck.

Let me clarify a few important points about the WEP/GPO elimination and your situation: 1. Substantial earnings years were specifically used to reduce the impact of WEP. Now that WEP is eliminated, those thresholds are no longer relevant for reducing a penalty. 2. Your Social Security benefit is still calculated based on your highest 35 years of earnings. If you have fewer than 35 years with Social Security earnings, zeros are averaged in, which lowers your benefit. So additional years of earnings can still improve your benefit by replacing zeros or lower-earning years. 3. The decision to wait until 70 now depends on: - Your life expectancy (longer life expectancy favors waiting) - Whether additional work will significantly improve your 35-year average - Whether you need the income now 4. With your pension of $3,750/month plus potential SS of $1,890/month at 70, you're looking at about $5,640/month total if you wait. If you claim now at 68.5, your SS would be roughly $1,710/month (about 90% of the age 70 amount), making your total $5,460/month. Based on these numbers, waiting to 70 would give you about $180 more per month for life. If you expect to live past your early 80s, waiting is financially advantageous.

Thank you all for the incredibly helpful responses! I see now that I was confusing two different concepts - the substantial earnings years for WEP reduction versus the general 35-year calculation for everyone's benefits. I checked my earnings record and I have about 11 zeros in my 35-year calculation period, so working these final 1.5 years will replace some of those zeros. Between that and the 8% annual delayed retirement credits, waiting still seems worthwhile for my situation. I've scheduled an appointment with my financial advisor to run some actual break-even calculations with the new non-WEP numbers. Really appreciate everyone's insights!

Anyone know if they're going to give back money to those of us who already got hit by WEP for years? Or is it just going forward? Typical government to change the rules after some of us already got screwed.

just wonderin has anyone actually gotten their benefits recalculated yet after this wep repeel? my husband called ssa and they said they dont have guidanse yet on how to implement the changes :/

As someone who's been following Social Security policy changes closely, I want to add a few practical considerations for your decision. The WEP/GPO repeal is indeed a game-changer, but you're right to think carefully about timing. Since you mentioned having 11 zeros in your 35-year calculation, continuing to work until 70 serves a dual purpose: replacing those zeros with actual earnings AND getting the 8% delayed retirement credits. That's potentially a significant boost to your monthly benefit. Also, keep in mind that your teaching pension is substantial at $3,750/month, so you're not in a position where you desperately need the Social Security income right now. The math strongly favors waiting if you're in good health and have family longevity on your side. One tip: create a my Social Security account online if you haven't already - it should eventually reflect the WEP elimination in your benefit estimates, though as others noted, the system updates are still rolling out.

Congratulations on reaching this milestone! The WEP/GPO repeal is absolutely life-changing for so many of us with government pensions. I'm in a similar boat - retired from the postal service with 28 years and have been agonizing over my Social Security timing. Reading through all these responses has been incredibly enlightening. The key insight that really resonates is that with your pension already providing solid income, you have the luxury of optimizing for maximum lifetime benefits rather than immediate need. With 11 zeros to replace and the 8% annual credits, waiting until 70 seems like a no-brainer mathematically. I'm curious though - have you considered what happens to your spousal benefits if you're married? The WEP elimination affects those calculations too. Also, for those still waiting on SSA system updates, I called last week and the representative mentioned they're expecting the new benefit calculations to be available online by late spring, so keep checking those estimates!