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  1. I turn 66 this year and believe I can take my own benefit (20 years substantial earnings) or half of my older spouses (file and suspend my own.) The problem is I worked for a school system that didn't withold SS taxes and had a lump sum in my alternate retirement account. I am taking a 10 year payout annuity from TIAA (4 payments in so far). At the end of this period will my WEP and Spousal penalties go away? Will they calculate Spousal punishment based on the lump sum or my annual payout which will go away in 6 years? I am afraid I will have an appointment with someone who doesn't know how to handle this so what references should I have on hand? If I can get rid of the penalty, how do I do it in 6 years or will they automatically get rid of it? HELP!!!! Thank you - can't find out much info on this situation online.