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The Windfall Elimination Provision (WEP) ... and the $10.30 increase, to $185.00, in the standard monthly premium for Medicare Part B in 2025, up from $174.70 in 2024. ...
This legislation repeals two provisions related to Social Security that have been in effect for over 40 years: The Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
Image source: Getty Images. 1. Social Security payments got a COLA in 2025 to protect benefits from inflation. A 2024 Nationwide Retirement Institute survey found that 66% of adults did not know ...
The effects of the WEP were phased in between 1986 and 1990. When calculating based on the year of eligibility, the year in which the beneficiary was eligible for both a Title II Social Security Benefit and the non-covered pension.
U.S. President Joe Biden signed the Social Security Fairness Act into law on Jan. 5., increasing the ability of retired public service workers who receive pensions to access Social Security ...
The Windfall Elimination Provision reduces Social Security for those who receive so-called “non-covered” pension income from jobs, typically public sector roles, that didn’t contribute ...
So even if you end up with a certain raise thanks to an upcoming COLA, an increase in the cost of Medicare could, unfortunately, wipe a decent chunk of it out. 2. Social Security's 2025 earnings ...
Bills proposing Social Security changes aren't unusual in Congress. With the program less than a decade from potential insolvency, those in government are frequently floating new strategies for ...