Addressing The Windfall Elimination Provision (WEP) and Its Impact on Affected Workers
Quite a bit has been written about “The Windfall Elimination Provision” (WEP) enacted decades ago in an effort to level the playing field concerning private- and public-sector employment pensions. In fact, the 116th Congress currently has two bills active to address current thinking about the fairness of this WEP today. These bills, S. 521 (Social Security Fairness Act) and H.R. 141 (Social Security Fairness Act of 2019), are currently awaiting committee consideration but, according to Govtrack.us data, both have only a 3% chance of being enacted.
The Motley Fool’s Dan Caplinger takes a look at some of the WEP history in a fool.com post, covering the original intent of the legislation and who it impacts, and discusses the “fairness” issue associated with the rules. Read his post here…