The Social Security Fairness Act aims to repeal provisions that reduce Social Security benefits for individuals with both public sector pensions and Social Security earnings.
The Senate is poised to vote to eliminate certain Social Security rules that limit benefits for some public workers. The Social Security Fairness Act would repeal provisions that reduce Social Security benefits for some individuals who also receive pension income from jobs in the public sector. Now, it is up to the Senate to pass the bill amid a packed schedule that also includes a deadline to avoid a government shutdown.
The WEP reduces Social Security benefit payments for individuals who also receive income from non-covered pensions — payments from employers who did not withhold Social Security taxes from their salaries. The GPO adjusts Social Security spousal or widow(er) benefits for people who receive income from non-covered pensions.to make it so workers with non-covered pensions were not reimbursed as though they were long-time low wage earners. Social Security has a progressive benefit formula, which means low earners receive a higher income replacement rate.and reduces Social Security benefits for spouses and surviving spouses who receive a pension based on their own government work that wasn't subject to Social Security payroll taxes and Social Security spousal benefits based on their spouse's work record.Specifically, the WEP doesn't affect beneficiaries who have 30 or more years of substantial earnings under Social Security. The rule also doesn't apply to individuals who fall under other specific categories, according to the Social Security Administration: federal workers who were first hired after Dec. 31, 1983; employees of non-profit organizations that were exempt from Social Security coverage as of Dec. 31, 1983; individuals who only receive pension income for railroad employment; and individuals whose only work that didn't include Social Security taxes was before 195
SOCIAL SECURITY SENATE BILL PUBLIC WORKERS PENSIONS BENEFIT FORMULA
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