OCTOBER 1, 2022
IT IS YOUR MONEY
The Windfall Elimination Provision (WEP) is a modified benefit formula that can reduce the size of your Social Security retirement. Congress approved the Windfall Elimination Provision in 1983 as part of a larger package of Social Security reforms. The intent was to remove an unintended advantage to workers who have earnings and pensions outside the Social Security system, but who also worked in jobs and paid into Social Security.
The Social Security Fairness Act (S. 1302/H.R. 82) and the Social Security 2100 Act (S. 3071/H.R.5723), making their way through Capitol Hill are aimed at repealing the Windfall Elimination Provision.
For more information you can click here, or here. More information will be going to your reps as it becomes available.