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The Windfall Elimination Provision (abbreviated WEP [1]) was a statutory provision in United States law [2] which affects benefits paid by the Social Security Administration under Title II of the Social Security Act. It reduced the Primary Insurance Amount (PIA) of a person's Retirement Insurance Benefits (RIB) or Disability Insurance Benefits ...
“The Social Security Fairness Act fully repeals the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO),” wrote Devin Carroll, CFP and owner and lead advisor at ...
The Windfall Elimination Provision affects people who qualify for Social Security benefits through their job but also receive a pension from another job where they didn't pay into Social Security.
Before Biden signed the bill, the WEP reduced Social Security for those who earned “non-covered” pension income (which includes pensions from state and local governments, as well as non-U.S ...
The two repealed laws are the Windfall Elimination Provision (WEP), enacted in 1984, and the Government Pension Offset (GPO), which became law in 1977. The original laws were passed at a time when ...
Under the WEP, Social Security benefits are reduced if you receive a pension from work, did not pay into Social Security, and had fewer than 30 years of “substantial” employment or covered ...
The WEP impacts about 2 million Social Security beneficiaries and the GPO nearly 800,000 retirees. Various forms of the measure have been introduced over the years, but like many legislative ...
The Congressional Budget Office estimates that eliminating the Windfall Elimination Provision would boost monthly payments to the affected beneficiaries by an average of $360 by December 2025.