Ensuring Fairness in Benefits
The Windfall Elimination Provision is set up to make sure that everyone receives and pays their fair share in Social Security. It may create a feel bad moment if it applies to you, but it should not be seen as something that takes money away from your retirement. It takes affect mainly in those that also receive payments through an employer pension program, but only if the payouts from the pension would put you over a set maximum. This is mostly in people that spent some of their working years in the employment of the state or government or any other work that would not pay Social Security taxes. For more information on this topic, visit this article by Matthew Frankel with The Motley Fool.