Ask Terry Questions Social Security Horror Story

Social Security Horror Story

By Terry Savage on December 14, 2023 | Wild Card

Hi Terry, Thank you for answering my questions:
My husband passed away last year. As per the law, my social security was stopped and now I receive his. I receive a modest income from the Teacher’s Retirement System (TRS) monthly. I received a letter last week that my social security is now cut by 2/3 of my TRS income and I need to pay Social Security over $10,000 overpayment in 30 days. I filed an appeal. Is there something else I should do?
Also, my credit union suggested I buy a fixed deferred annuity. Do you think this is a good investment?
Thanking you in advance.

Terry Says

Whew. The WEP — windfall elimination provision — reduces your SS benefits, but you need to make sure they reduced it by the correct amount. Might be worth going to to get the correct amount based on his record, and yours.

The change obviously triggered them to look back at your own benefits record, and they found out — as they have so many times for so many people — that they “forgot” to do the WEP adjustment.

When you negotiate the appeal, ask if they can give you a low monthly payment plan because you cannot afford to pay it all at once. They will take money out of your SS benefit, reducing it even more! But this is probably the best they will do.



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