Latest News
WEP & GPO Dilemma
Much has been written for decades about whether the Windfall Elimination Provision (WEP) and Government Offset Proviso (GPO) are fair. Both reduce some public employee pensions, specifically affecting those who had some time in the Social Security system but usually many more years out of the system. Alicia Munnell of MarketWatch explains the rationale behind these 1983 provisions. She also explores a reform effort to mitigate the so-called “penalty” as proposed in a bill by Rep. Kevin Brady (R-TX). Finally, she explains why ultimately, in her view, all state and local employees not now covered by Social Security should be. Full piece here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.
These provisions hit women hard. Women after often in the workforce but below Social Securities high earnings threshold due to domestic responsibilities. Women who choose public service are being unfairly short changed and would be better off focusing on a career in private industry.