WEP, GPO, Divorce, and other Social Security Nuances for Advanced Knowledge

Author: Theodore Sarenski

Social Security has rules and laws that rival the rules on taxation in its complexity. Join expert, Theodore Sarenski, CPA/PFS, CFP, AEP, as he talks about some of the lesser known sections of the Social Security law to advise clients who are not the norm.

Publication Date: June 2019

Designed For
Any professional who is advising individual clients should attend this session as well as all of the series of the Social Security sessions to properly advise your clients on Social Security, the backbone of each person’s retirement.

Topics Covered

• The Windfall Eliminations Provision (WEP) and the Government Pension Offset (GPO); who is affected and how
• Marriage and Divorce; how this complicates projecting future benefits and relationships
• Repay and Reapply
• Garnishment of Social Security benefits
• Representative Payee
• Railroad Retirement
• Military Retirement
• 2009 No Social Security Benefits for Prisoners Act
• The "Think Twice" Social Security Clause
• Living outside the United States
• Totalization Agreements
• Totalization Agreement with Canada

Learning Objectives

• Recognize how to advise clients who have worked in jobs where they paid into the Social Security system and who also worked in jobs where they did not pay into the Social Security System
• Describe how to expand your practice into advising on marriage and divorce from a financial perspective
• Recognize how to be confident you have the knowledge to advise clients in areas not often known by most professionals
• Describe the Windfall Elimination Provision (WEP) and how it applies
• Identify a reason for social security garnishment
• Differentiate correct statements with respect to the railroad retirement
• Recognize how many consecutive days you would have to be away if are you considered living outside of the United States

Level
Advanced

Instructional Method
Self-Study

NASBA Field of Study
Specialized Knowledge and Applications (1 hour)

Program Prerequisites
Basic understanding of Social Security and how it applies to clients.

Advance Preparation
None