I am a retired federal employee writing to raise awareness of the devastating effects of the Windfall Elimination Provision (WEP) experienced by nearly 2 million people. This policy reduces the earned Social Security benefits of local, state and federal retirees who worked in Social Security-covered private-sector employment, and who also earned an annuity from their non-Social Security covered government employment. The WEP can result in a monthly Social Security benefit that is $512 lower than deserved, causing undue financial distress
Why should we be penalized for working hard for our country?
Additionally, spouses are feeling the burden of the Government Pension Offset (GPO), a similar penalty, which prevents them from collecting the Social Security benefits their spouses earned from private-sector jobs due to their public service. The GPO affects 723,970 beneficiaries, 48 percent of which are widows or widowers, and 52 percent of whom are spouses.
We rightfully earned these benefits in exchange for our dedication and hard work to the nation, and, as such, I am inviting other retirees affected by the WEP and GPO to join me in calling on Congress to repeal these unfair provisions. Furthermore, I am writing to urge lawmakers to support H.R. 82/S. 1302. It's past time to stop punishing us for our public service and allow for us to collect what we rightfully earned.
U.S. Attorney: Florida resident charged in alleged MJ Capital financing Ponzi scheme
Judge limits how Alex Murdaugh reviews evidence before trial
Advisor News
- Addressing the longevity paradox
- Employers shift focus from retirement access to financial outcomes
- Helping widowed clients navigate their new financial reality
- Navigating client communication in a digital age
- Can your advisory firm survive without you?
More Advisor NewsAnnuity News
- Farm Bureau P&C insurers post first underwriting gain since 2021
- Legacy Marketing, Malibu Life launch two fixed indexed annuities
- Changing client priorities are reshaping annuity conversations
- Solen Software acquires annuity software provider Cooperative Technologies
- MassMutual Expands Lending Options With New Secured Credit Line
More Annuity NewsHealth/Employee Benefits News
- Job-Based Health Plan Costs Rise, With Little Relief in Sight
- Here’s what Gov. Moore and Dan Cox promised Marylanders with disabilities
- AmeriHealth Caritas to join Ohio Health Insurance Marketplace in 2027
- Legislators hear report on thin hospital margins, advance prior authorization reform
- As Children’s Mercy is dropped by ACA Marketplace, MO insurance group makes statement
More Health/Employee Benefits NewsLife Insurance News