“WEP” and “GPO”: Two reviled Social Security rules
The Windfall Elimination Provision, or “WEP”, and the Government Pension Offset, or “GPO” are two provisions of the Social Security act intensely hated by those affected, mainly workers in about 27 U.S.states where public service employees and employers do not contribute to the Social Security program. Those affected are often teachers and other public school workers, police and fire employees, and other public servants who receive a pension from their state or local government employment but which didn’t pay into Social Security. And as a result, any Social Security benefit they may be otherwise entitled to is reduced or eliminated. There are arguments both for and against retaining these unpopular provisions, and both the Senate and House have introduced bills to repeal them, but would that really be a good idea? Dan Caplinger of the Motley Fool explains in this article.
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