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It seems like many of you have questions about Social Security. Lately, I've been getting several questions from people with government pensions who didn't have Social Security taxes withheld.
The repeal of the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) marks a transformative shift in ...
The key to understanding WEP is to realize that the word “social” in Social Security means something. Unlike private and other public sector pension plans, there are social goals built into ...
The WEP specifically targeted career uncovered workers who had minimal covered work. In 2022, the maximum reduction in Social Security benefits for those receiving a public pension was $512 per ...
Congress approved the Windfall Elimination Provision in 1983 as part of a larger package of Social Security reforms (including an increase in the full retirement age).
For years, Misha had received an annual six-page form in the mail. It was called "Your Social Security Statement" and, year after year, she watched as her projected monthly payout at retirement ...
To understand what WEP and GPO are and why they exist, it’s important to know that the Social Security Act of 1935 did not include federal, state and local public-sector employees.
The windfall elimination provision was introduced in 1983 as a benefits safeguard. It prevents certain workers from collecting full Social Security benefits in addition to a pension, without ...
The windfall elimination provision (WEP) is a rule that requires the Social Security Administration to reduce Social Security retirement benefits for people who also receive money from certain ...
How WEP takes a bite from Social Security check. Those two programs, says Blankenship, reduce the amount of Social Security benefit that you receive from different sources, based upon the pension ...
The Estimate of Benefits report, which is the baseline most planners use to project Social Security benefits in retirement, has several important embedded assumptions that can affect what any ...