Form SSA-150. Modified Benefits Formula Questionnaire
Form SSA-150, the Modified Benefits Formula Questionnaire, serves as a tool to collect information from individuals who may be subject to the Windfall Elimination Provision (WEP) or the Government Pension Offset (GPO). The primary purpose is to gather data necessary for calculating benefits accurately in cases where individuals receive both Social Security and a government pension.
For example, individuals who have worked in positions covered by both Social Security and a government pension plan may use this form to provide details about their government pension. The purpose is to ensure that benefits are calculated correctly under the WEP and GPO rules, which can reduce Social Security benefits for certain individuals.
The parties involved are individuals who receive both Social Security and government pensions and the Social Security Administration. The form is structured with sections for the individual's information, employment history, and details about their government pension. Accuracy in reporting pension information is crucial to ensure accurate benefit calculations.