Ask Terry Questions Social Security Fairness Act (your article in the January 5th,2024 Chicago Tribune)

Social Security Fairness Act (your article in the January 5th,2024 Chicago Tribune)

By Terry Savage on January 07, 2025 | Financial Planning / Retirement

I am a retired 75 year old federal employee currently receiving a CSRS annual pension of $136,000. I retired with 45 years of service from April 1972 to October 2017. I had 23 quarterly Social Security credits prior to my federal retirement. Upon my federal retirement, I have been working a part time job earning Social Security credits. I have received a letter from Social Security indicating that I have 40 quarterly credits and am eligible for benefits. I never applied for Social Security benefits because I assumed that I would not be eligible because of WEP and GPO. Under the provisions of the Social Security Fairness Act, am I now eligible to receive Social Security benefits? Should I now apply for Social Security benefits?

Terry Says

You sure are! Go ahead and apply. I’m guessing it might take a bit longer to process your application with all they have to do to recalculate benefits!

money

ASK TERRY

a personal
finance question