The Social Security Fairness Act eliminates two provisions, the WEP and the GPO, that have been penalizing a sizable portion ...
The Social Security Administration (SSA) has established a maximum reduction limit, which is detailed in their WEP chart ... of these workers' lifetime earnings were reflected in their Social ...
This impact of the WEP is explained using the following example for someone turning 62 in 2024 who has more than 40 credits but less than 20 years of substantial Social Security covered earnings.
The windfall elimination provision affects both Social Security and disability benefits. It calculates a fair benefit that is proportional to the number of years that you had substantial earnings ...
For each year past 20 that someone has “substantial” earnings subject to the Social Security payroll tax, the maximum WEP penalty is reduced. By the time someone has 30 years of substantial ...