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Search: Posts Made By: gpslouis
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Forum: USA
Feb 23rd 2017, 11:26 pm
Replies: 44
Views: 9,199
Posted By gpslouis

Re: WEP and the SSA

Yes.

SSA should be informed of your UK pension only when you start to receive it (or shortly before).

Are you sure that you want to start taking SS at age 62? If you don't actually need the...
Forum: The Trailer Park
Dec 22nd 2016, 11:22 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

No, no, no! Answer #1 in the Sarbanes letter says that WEP is not recomputed due to changes such as yearly increases in the money amount of the pension.

However, as you note, WEP is also not...
Forum: Moving back or to the UK
Dec 6th 2016, 2:14 am
Replies: 35
Views: 6,976
Posted By gpslouis

Re: Receiving USA Social Security payments

Here is the letter from Rep. Sarbanes that confirms that, for nearly all situations, the FX rate for WEP is cast in concrete after a US Social Security recipient initiates retiree benefits payments....
Forum: The Trailer Park
Dec 4th 2016, 4:33 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

By the way, the responses from SSA via Rep. Sarbanes are quite different than the responses from the SSA rep on the phone, which I posted on this forum on Oct 20th 2016, 4:44 pm.

As the...
Forum: The Trailer Park
Dec 1st 2016, 9:02 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Here are the promised answers to the questions about WEP, right from SSA via US Rep. John Sarbanes.

https://drive.google.com/open?id=0BzyxkTQHkb2JMW1UVVl5NWxRdnM

Rep. Sarbanes represents only...
Forum: USA
Dec 1st 2016, 8:57 pm
Replies: 44
Views: 9,199
Posted By gpslouis

Re: WEP and the SSA

For SSA policy on WEP recalculation and related questions, see:
https://drive.google.com/open?id=0BzyxkTQHkb2JMW1UVVl5NWxRdnM

Please note that US Rep. Sarbanes represents only constituents in the...
Forum: USA
Dec 1st 2016, 8:55 pm
Replies: 3
Views: 811
Posted By gpslouis

Re: Social Security WEP Fx Rate

The authoritative answer to your questions can be found at:
https://drive.google.com/open?id=0BzyxkTQHkb2JMW1UVVl5NWxRdnM

Please note that US Rep. John Sarbanes represents only constituents in...
Forum: The Trailer Park
Nov 14th 2016, 6:58 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Received one other bit of information from my congressman. For those who are eligible to repay Social Security and restart benefits in the future...
Forum: The Trailer Park
Nov 13th 2016, 11:55 am
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

I also submitted a Freedom of Information Act (FOIA) to SSA seeking internal memos and documents that address the effect of foreign currency fluctuations on WEP. Although SSA has a stated goal of...
Forum: The Trailer Park
Nov 13th 2016, 1:48 am
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Just an update ... but not much of one at this point. My US House representative has advised me that SSA is working on developing answers to the questions that he submitted on my behalf (see...
Forum: The Trailer Park
Oct 21st 2016, 1:14 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Do the regulations [for reporting a change in the amount of the pension] relate [only] to a change in the foreign pension amount? That's not what the SSA agent told me on the phone.



The...
Forum: The Trailer Park
Oct 20th 2016, 11:21 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

SSA says that when the amount of the pension changes, you have to notify SSA. Even if the amount is just a penny, the rules are the rules. I didn't make the rules, even though they might border on...
Forum: The Trailer Park
Oct 20th 2016, 8:44 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

I called Social Security directly and was able to reach a WEP expert. Answers to the questions are posted below. Use this information with caution because I didn't get it in writing so it's not...
Forum: The Trailer Park
Oct 20th 2016, 7:57 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

As part of the due diligence in preparation for submitting the complaint to the OIG, I have asked my US representative to obtain answers from SSA to the policy questions below. His aide agreed to...
Forum: The Trailer Park
Oct 20th 2016, 6:12 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Actually, it would be helpful if you would write your Representative (house member) and ask him or her to co-sponsor H.R. 973, the Social Security Fairness Act of 2015, which would repeal both the...
Forum: The Trailer Park
Oct 20th 2016, 4:51 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Your situation is what keeps accountants in business. Good luck!
Forum: The Trailer Park
Oct 20th 2016, 4:42 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Good suggestion. I will use it. Thank you.
Forum: The Trailer Park
Oct 20th 2016, 4:41 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

The system won't be fixed unless somebody asks. I have been successful in several similar endeavors that have led to changes in laws or fiscal policy that resulted in nearly $100 million of taxpayer...
Forum: The Trailer Park
Oct 20th 2016, 4:29 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Wow, quick replies and helpful suggestions. Okay, I will suggest that the WEP recalculation be performed "at a reasonable interval, not to exceed one year." One year is probably a reasonable...
Forum: The Trailer Park
Oct 20th 2016, 3:34 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

All of these comments are helpful, especially the comment from Giantaxe: " It would be "interesting" to hear the SSA's justification for a once and done calculation and see whether it extends beyond...
Forum: The Trailer Park
Oct 19th 2016, 10:25 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Or perhaps it is a convenient money grab by the federal government with the goal of slightly extending the time before the SS trust fund runs out.
Forum: The Trailer Park
Oct 19th 2016, 10:21 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Actually, there does appear to be one way to force recalculation of WEP, but only a small number of SSA beneficiaries can use this tactic. If you started your SSA retirement benefits less than one...
Forum: The Trailer Park
Oct 19th 2016, 9:52 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Agreed! But it's entirely unfair for those who started SSA retirement when the pound was strong to get WEPed harder than those who started SSA retirement when the pound was weak. Even an annual...
Forum: The Trailer Park
Oct 19th 2016, 6:12 pm
Replies: 59
Views: 6,397
Posted By gpslouis

Re: Recalculation of WEP after Brexit

Thank you for the replies.

To theOAP: No, I don't have any other UK or other non-SSA contributing pensions that would trigger recalculation of WEP, so that option is not available.

To Pulaski:...
Forum: The Trailer Park
Oct 19th 2016, 10:59 am
Replies: 59
Views: 6,397
Posted By gpslouis

Recalculation of WEP after Brexit

When I applied for US social security retirement benefits in the beginning of this year, my US social security retirement benefit amount was reduced due to WEP. The amount of the reduction was based...
Showing results 1 to 25 of 25


 
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