The Resource The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai, (electronic resource)

The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai, (electronic resource)

Label
The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study
Title
The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study
Statement of responsibility
Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai
Creator
Contributor
Subject
Language
eng
Summary
  • This paper uses data from the Health and Retirement Study to investigate the effects of Social Security's Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) provision on Social Security benefits received by individuals and households. WEP reduces the benefits of individuals who worked in jobs covered by Social Security and also worked in uncovered jobs where a pension was earned. WEP also reduces spouse benefits. GPO reduces spouse and survivor benefits for persons who worked in uncovered government employment where they also earned a pension
  • Unlike previous studies, we take explicit account of pensions earned on jobs not covered by Social Security, a key determinant of the size of WEP and GPO adjustments. Also unlike previous studies, we focus on the household. This allows us to incorporate the full effects of WEP and GPO on spouse and survivor benefits, and to evaluate the effects of WEP and GPO on the assets accumulated by affected families
  • Among our findings: About 3.5 percent of households are subject to either WEP or to GPO. The present value of their Social Security benefits is reduced by roughly one fifth. This amounts to five to six percent of the total wealth they accumulate before retirement. Households affected by both WEP and GPO lose about one third of their benefit. Limiting the reduction in the Social Security benefit to half the size of the pension from uncovered employment reduces the penalty from WEP for members of the original HRS cohort by about 60 percent
Member of
http://library.link/vocab/creatorName
Gustman, Alan L
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Steinmeier, Thomas L
  • Tabatabai, Nahid
  • National Bureau of Economic Research
Series statement
NBER working paper series
Series volume
no. w19724
Target audience
specialized
Label
The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai, (electronic resource)
Instantiates
Publication
Note
December 2013
Control code
ssj0001220519
Dimensions
unknown
Form of item
online
Governing access note
Access restricted to subscribing institutions
Specific material designation
remote
System control number
(WaSeSS)ssj0001220519
System details
  • System requirements: Adobe [Acrobat] Reader required for PDF files
  • Mode of access: World Wide Web
Label
The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai, (electronic resource)
Publication
Note
December 2013
Control code
ssj0001220519
Dimensions
unknown
Form of item
online
Governing access note
Access restricted to subscribing institutions
Specific material designation
remote
System control number
(WaSeSS)ssj0001220519
System details
  • System requirements: Adobe [Acrobat] Reader required for PDF files
  • Mode of access: World Wide Web

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