Description
The elimination of WEP and GPO will significantly benefit certain retirees who receive pensions from employment where Social Security taxes were not withheld. Learn who benefits and who doesn’t and to what degree the Act will decrease the solvency of Social Security. Larry will also review the tax planning and financial planning considerations for social security payments and discuss the importance of filing Form W4V for clients who receive social security payments.
Learning Objectives
1. Advisors will understand the Social Security Fairness Act and who it helps.
2, Advisors will learn the timing of Social Security benefit increases due to the Act and how the monthly benefit increase is calculated.
3. Advisors will learn about tax planning considerations for social security payments.