This article was originally published here and submitted to Richland Source for publishing. The repeal of the Windfall ...
The Windfall Elimination Provision (WEP ... entirely after 30 years of substantial earnings. In contrast, the Government Pension Offset (GPO) affected Social Security benefits based on a ...
Over three million retirees who worked in the public sector, or are entitled to spousal or surviving spousal benefits, will ...
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 ...
The amount of an individual’s Social Security benefits is calculated by multiplying their average earnings by a factor, or a percentage. The WEP reduced that factor based on the amount of time ...
reducing Social Security benefits for spouses, widows and widowers who also received income from their own government pension. However, over the decades, opponents of the WEP and GPO have argued ...
The WEP calculation is only applied if someone has fewer than 30 years of "substantial earnings" under the Social Security system. “If he has had 38+ years as a private attorney, I cannot ...