Formula Changes–and an Adjustment–in the Wind for WEP-affected Retirees?
A post today on myfederalretirement.com highlights the reintroduced legislation to reform Social Security’s Windfall Elimination Provision (WEP). As the post explains, the bill (H.R. 4260) would provide a $150/month payment to those WEP-affected retirees currently in drawing benefits, and would change the formula for future retirees to “pay Social Security benefits in proportion to the share of a worker’s earnings that were covered for Social Security purposes.” As noted in the post, this legislative was proposed in the 116th and 117th Congressional sessions. Read the full post, which includes a link to the bill text, here.