What is the difference between mitigate and eliminate? I am caught in WEP and I think my ss benefit was reduced by a little over $300. I didn't have 20 years I don't think.
Eliminate means to get rid of while mitigate means to lessen. In the context of WEP, if you have 30 of substantial earnings you will not be affected by WEP. However, if you do not have 30 years of substantial earnings but you have at least 20, your substantial earnings will help to mitigate the the affect of WEP on your Social Security. Regardless of how few years you have of substantial earnings, if you are eligible to receive Social Security it will never be reduced past the annual maximum amount. In 2021 this amount is $498.
What is the difference between mitigate and eliminate? I am caught in WEP and I think my ss benefit was reduced by a little over $300. I didn't have 20 years I don't think.
Eliminate means to get rid of while mitigate means to lessen. In the context of WEP, if you have 30 of substantial earnings you will not be affected by WEP. However, if you do not have 30 years of substantial earnings but you have at least 20, your substantial earnings will help to mitigate the the affect of WEP on your Social Security. Regardless of how few years you have of substantial earnings, if you are eligible to receive Social Security it will never be reduced past the annual maximum amount. In 2021 this amount is $498.