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I paid over 40 quarters before becoming a public servant. I worked 25 years as a public servant now I'm working the private sector paying more into social security. Why should I be penalized?
Same here; I'm that 3% and believe me it matters to me. I'm back to working full time, putting into SS after 28 years as a teacher. I think it's very unfair that all the SS I put in for years is taken from me. I put into my pension, that isn't free money as many think.
As a retired “cop” as you say, I am glad to see the new bill HR 85 pass very soon….Interesting watching this video from the last year about the WEP…….Funny too, the example of the Fire Chief who made $200,000 when he worked and now has two homes , etc….That would be the exception and not the norm…..When I retired I was no where near the $200,000 number , even with OT….Cut that in half and recalculate and do not mislead people. I wish you the best as I am sure you will lead the charge to attack this repeal as of Dec 2024…Funny too how I stopped at my local SSOffice in LaCrosse Wisc in October , 2024,w and I got the same attitude from a staff member there.
I didn't know about WEP until I applied for social security benefits. And I paid into social security for 18 years but WEP reduces my benefits. Is that fair? And if WEP affects such a small population the social security fund should be able to withstand the minor increase in expenditure.
I had to explain WEP to my 61 year old sister. She didn’t know she fell under it. Her & a bunch of people I worked with didn’t know we fell under WEP. Thank you for explaining it so well. Just to let you know my sister is shell shocked.
That's not good at all. More people need to know the details so they can plan accordingly. Thank you for sharing!! Just give me a call if you have any other questions. Take care, Ed
Can anyone explain as a government retiree, why Survivor Benefits are penalized by WEP or GPO? Especially if your late spouse was not a government employee. It doesn't make sense.
I agree! Why should a firefighter's widow have her SSA benefits taken away by GPO, just because her husband served a career as a firefighter (and some die early deaths due to that service!) It is UNAMERICAN to take her earned SSA benefits! And, as for WEP, benefits should be paid at least on the portion paid in by EVERY AMERICAN CITIZEN!
I have a pension from the Canadian government and fall under WEP with my Social Security payments. Of course I don't like it but I think it is fair, so I accept it. This is very well explained by Ed - thank you.
When a private sector worker pays into social security, disability and survivor benefits are part of the system. One thing Dr Weir fails to include is zero of these workers who were not paying into social security qualified for social security disability nor would their dependent children ever receive a nickel from social security from the death of a parent under a local pension. These employees paid for these benefits with pension contributions that were significantly more than social security - for the police and fire folks 2x the cost of social security. At the same time is it’s likely Mr. Weir had 100% paid medical from his position as a federal employee. I don’t see him claiming the unfairness of that.
I paid into S.S. and into my Federal Pension and I should get back what I paid into both. No, it is not fair. I wouldn't mind paying into S.S. now that I receive my Pension but to have my S.S. automatically reduced is robbery. Sorry Ed, your explanations (excuses) don't cut it.
I worked and retired from a law enforcement agency in New Mexico. I was never told about WEP and GPO. I learned about it as I prepared to retire. I had 10 years paying into SS prior to going into law enforcement and 15 years paying into it post retirement. I do not agree with getting penalized for only paying for 25 years and having a pension. I only want my earnings to be based on what I paid into SS, not penalized for having a pension. I do believe however that the Fraternal Order of Police should be making a massive push to all law local law enforcement agencies to push for contracts that make officers pay into SS.
Simple solution. Encourage your children and family members to NEVER pursue a career in public service ( firefighting, law enforcement, education, etc.) by which this can happen to them as it has to us. This is outright THEFT by the United Stated government of OUR invested money!
You could have saved 25 minutes by saying higher income earners subsidize low income earners by giving them a greater percentage in social security than they deserve. If everything was fair, you wouldn't pay them 90% replacement value.
I didn’t know. I paid SS for 20 years. Then worked at community college bookstore. Paid into TRS. Retired TRS and I will only receive about 1/3 of my SS. This is not right!!!
Not a WEP question, but was wondering what are your thoughts on the following: Just to keep it simple, Elderly couple (A) retires at FRA and receives the maximum benefit this year of $3627 per person, per month. That's $87,048 household income per year. Elderly couple (B) also retires, working their entire lives in the public sector. They too have a combined household income of $87,048 from their pensions, where they contributed 6.2% of their paychecks towards that pension. Couple (A) pays zero income tax due to utilizing the provisional income calculation and their standard deduction, while couple (B) has a tax bill of $6,562. Is that fair, or do you think those who've paid into their pensions should be able to use the provisional calculation too?
I did not know about WEP when I was hired in Texas as a teacher. In what universe is it ok to reduce someone's earned SS benefits before and after teaching? I was not making $200,000 a year teaching in Texas. Your pronouncements of someone's income is unrealistic. I do not agree with your point of view.
Agreed. And although there can be a debate about whether it’s ever applicable, there should at least be income limits that exclude WEP. A huge number of people who go into teaching or other government jobs do so for just a few years, or for several years, but only at half time work, which means they are getting very little and pension anyway. Why should they be punished more than if they never worked later in life? There needs to be shades of gray in this at least.
Here's how we can demonstrate the source of real power in a Democracy: The People Use the attached sample letter to President and express your desire for the passage of Social Security 2100 before November 2024 election: His Excellency Joseph R. Biden, Jr. President United States of America Dear Mr. President: I am a 73-year old US citizen who worked for 18 years and contributed to the Social Security Fund until I was forced to retire due to cerebro-vascular stroke that forced me out of work due to disability and had since depended on my $400.00 monthly Social Security pension. As Congressman John Larson of your own Democrat Party has repeatedly said, over and over again, that for the past 50 years since President Nixon there has been NO increase to the social security benefit of SEVENTY MILLION (70,000,000) Social Security recipients who have been DISAPPOINTED since your first election in 2020 when you failed to make good your promise to grant a measly $200.00 monthly increase in social security benefit. I am bringing to your personal attention in your capacity as current POTUS the position of these 70,000,000 voting Social security recipients to reelect you as POTUS for the second four-year term in the event that during your current incumbency as POTUS the Social Security 2100 Bill filed by Congressman John Larson is PASSED INTO LAW by September 2024 together with the FULFILLMENT of YOUR PROMISE to grant a $200.00 across-the-board monthly increase to social security benefit. Yours truly, Sgd: NELSON P.ROXAS For: 70,000,000 Social Security Recipients Electorate
Here's how we can demonstrate the source of real power in a Democracy: The People Use the attached sample letter to President and express your desire for the passage of Social Security 2100 before November 2024 election: His Excellency Joseph R. Biden, Jr. President United States of America Dear Mr. President: I am a 73-year old US citizen who worked for 18 years and contributed to the Social Security Fund until I was forced to retire due to cerebro-vascular stroke that forced me out of work due to disability and had since depended on my $400.00 monthly Social Security pension. As Congressman John Larson of your own Democrat Party has repeatedly said, over and over again, that for the past 50 years since President Nixon there has been NO increase to the social security benefit of SEVENTY MILLION (70,000,000) Social Security recipients who have been DISAPPOINTED since your first election in 2020 when you failed to make good your promise to grant a measly $200.00 monthly increase in social security benefit. I am bringing to your personal attention in your capacity as current POTUS the position of these 70,000,000 voting Social security recipients to reelect you as POTUS for the second four-year term in the event that during your current incumbency as POTUS the Social Security 2100 Bill filed by Congressman John Larson is PASSED INTO LAW by September 2024 together with the FULFILLMENT of YOUR PROMISE to grant a $200.00 across-the-board monthly increase to social security benefit. Yours truly, Sgd: NELSON P.ROXAS For: 70,000,000 Social Security Recipients Electorate
I have been an adjunct struggling to pay health care and student loans… to find out only recently ( after working for 14 years) about wep and its impact has devastated me. What is horrible is how ‘full time’ faculty could have Roth accounts and if they cash out before retirement age they don’t get wep. Meanwhile I had no choice. I couldn’t do the Roth. So I don’t have that option. Also my husband paid into ss and I will be hurt hard, god forbid if he dies.meanwhile the people with big pensions ( who also got employer contributions lucky them) actually are impacted far less because it’s the first bend that’s affected. Wep was meant to pocket money for the rich at the expense of poor workers. The 30 year exemption rule? High wage worker has no problem hitting those, but me who worked many years as a private school adjunct? no even though I worked full time every year. I can’t even finish watching this as you are so out of touch with contract low wage state workers.
Thank you, as a us citizen who lives and work in Germany, I paid into the German social security for the past ,28 years and am also eligible for social security with a total of 29 years of working and paid into social security. Now that I am retired and soon will be at FRA I finally found someone who explained the WEP clearly that it made sense to me and I agree with you !!
Hi Joyce, that explanation is always difficult. Glad you understood it. Lot's of more videos to come. Please share with your friends and family. Take care, Ed
HERE IS THE BIGGEST PROBLEM WITH SOCIAL SECURITY: The Government Has Borrowed $1.7 Trillion From The Social Security Trust Fund. The government has borrowed the total value of the Trust Fund to pay for other government spending. WHY DON'T YOU TALK ABOUT THAT MR. ED?
Good Video! Thanks for the explanation!! I am retired 67 y/o and have a MA city pension as well as my SS. My SS was reduced by $463.00/month due to the WEP. AND, it makes sense to me why it was reduced!!! I don't like it, but I understand it and also why it shouldn't be repealed. Have a great 2025 everyone!!!
Sorry, but I disagree. I never in my life made 50,000 usd. I worked my first 20 years, Stateside then moved to Sweden. Because I moved so late in life to Sweden, my pension here is crap. And then SSA throws WEP at me. It's crap. We who live and work overseas arr treated as second class citizens. I payed into the system for those first 20 years. Be as blunt as you want but it is unfair for we who are not domestic US residents. It is crap.
Yes, the WEP formula is crap. The arbitrary formula of 40% was pretty much picked out of thin air in the 1980s because it was based on an average professional salary. The one-size-fits-all formula removes TOO MUCH of a person's SS benefit, on average. This means you are treated worse than the average wage earner in terms of receiving SS benefits. This is true for many public servants in 15 states as well. Many Texas bus drivers receive very small education pensions. The same reduction formula applies to them as to a school superintendent. The speaker gives an example of the average salary of $50,000. How convenient. This example demonstrates the NEED for a WEP formula. It does not explain the unfairness of the actual formula being used. The speaker is correct, however, in that the formula will never be repealed. I think it is also likely the formula will never be changed as it helps to prop up the entire SS system. Welcome to America and enjoy the same a##-kicking as it gives to poorer public servants in 15 states!
Sorry to be so blunt in several places. Be sure to comment and let me know if you think I am way off base. But if you do need help navigating Social Security AND Medicare (including Medicare Part C and D), give me a call: 888-817-0446
Hello Ed, I understand and agree with the reasoning. To change perspective on how government finances in general work and SS in particular please check out what economist Stephanie Kelton teaches regarding Modern Monetary Theory. She blows up how people understand the monetary system from the Federal level. If you have time her book is eye opening: "The Deficit Myth". All the best, Mark Schaffer
Thanks for the feedback Mark! I'll definitely check out that book! I'm slowly but surely building up an entire video library to help people navigate Social Security AND Medicare. Hope to have at least a few hundred videos done by the end of the year. Take care, Ed
@@MyGovExpert okay, so that’s a calculation of a lower amount so where does waiting to collect these benes after FRA when you have to incorporate WEP? I really appreciate these responses 😉 b4 I head to the SSA office and hassle with a clerk 🤦🏻♀️
Hello, I am a widow. I have a pension in my country from my own work. Here in the U.S. I only worked for 3 months. I just turned 60 years and I want to apply for widow benefits on my Husband's record. Will Social Security reduce the amount on my husband's record for the pension that I have in my country?
@@MyGovExpertWhat gets me is that taxpayers, 90% of which are in the private sector are paying a huge cost to keep public pension systems in practically every state from going insolvent. In 2022 taxpayers in Kentucky contributed $5.82 dollars to every $1.00 dollar plan members contributed: about 30% above that of public pension member contributions. It's all in the financial report. If public servants are eligible for SS benefits because they contributed then by their own logic, I should be eligible for public pension benefits because my tax dollars have contributed to the public pension system for over 50 years. Currently accrued public pension liability grows 3 times the rate of the states GDP. And the public service sector is still not happy. It has the state in a financial crisis.
@@davidcastelli7893 "I never thought of that but that is an excellent point" That's almost word for word what my representative Brett Guthrie told me. It didn't deter him from co-sponsoring the bill. I can just speak for Kentucky. The 8 public pension systems combined have a total unfunded public pension liability of nearly $40 BILLION dollars. The Kentucky taxpayers are making an average payment of $1,598,570,720 billion dollars every year and will until 2049. Every state has public pension issues but elected officials do not won't to talk about it. When social security goes broke, we will still have to pay their benefits. Public servants are not the victims here. Private sector taxpayers are the victims.
I paid into STRS I am vested I paid into SS I qualify If I paid fully into BOTH I think, I should get both too A pension of $500/month is not much in Los Angeles, California I should get $200/month in Social Security benefits But if I only get the $500/month, I will be on Skid Row.... INFLATION FOR A SINGLE WOMAN IS BRUTAL. Unfair for women working 2-3 💪 jobs
WHEN THEY FIGURED OUT MY SOCIAL SECURITY BENEFIT WHILE LOOKING AT MY PENSION THEY DECIDED ONLY MY TOP 3 YEARS PAID INTO SOCIAL SECURITY MATTERED ,,,,, THE OTHER 28 YEARS I PAID INTO SOCIAL SECURITY DIDN'T MATTER, THAT DIDN'T COUNT! WHAT? MY SOCIAL SECURITY WAS CUT IN HALF. YOU THINK THAT'S FAIR MR. ED?
I’m in the Indiana Police and Fire ‘77 pension fund. I pay no social security but I do pay 6% and the city pays 19.5% annually into the pension fund. We have an option for a 457B also. I only have 14 years of meeting the SS wage. I knew early in my career that WEP would apply and do not expect much as a SS benefit. I understand I didn’t pay into it so why would I get more than the 40%? Awesome information! 👏👏👏👏
Social Security needs to update the individual's online estimate to include wep so they can be aware of it. Any idea why this is not being done. Thanks for sharing your thoughts on this subject.
It's a computer/data issue. Basically SSA doesn't have what people made under those non covered earnings because the states, etc weren't mandated to inform SSA. So until all the states/cities/counties report all the earnings going back to the 1980s, then it can't be posted/calculated accurately.
The federal government volunteered us for philanthropy. The federal government should explain it as well as this gentleman has. I don’t mind philanthropy but I do mind being told I have been volunteered for it. I believe in sharing the good we’ve earned with those whose circumstances were different. The federal government finds money for every military toy they build and for their waste and thought I’ll take money from those who provided public service for over 30 years. The fed’s trick is to tell us this in our 50s and 60s when we’re tired to do anything about it. There aren’t enough expletives for the feds who can’t find a little money in their 5 Trillion annual budget to take care of less fortunate people. Instead they’re taking it from the workhorses of society. The American Dream is to leave America.
SO if it is " fair" why is it not applied to everyone and not just to those in few select states? Why do they not refund the money the Tax payer was forced to pay in? It is just another way the government picks the pocket of the tax payer
My husband has a pension. Will it affect my social security benefit? Will he get a survivor benefit? I get a survivor benefit, will that affect my social security benefit? Need this information. Help!
If I'm only going to get around 40% of my Social Security, I should only have to pay 40% of the full amount of Social Security I'm currently paying or my job that falls under Social Security.
@@MyGovExpertThat’s a ridiculous comment. Firefighters often work 2nd jobs and pay into SS. I’m fine if my SS benefits are reduced by x percent, so if this stands the proper thing to do is refund the appropriate amount of contributions. I understand that this has been in place for so long that the thought of change is challenging for some. Trying to balance SS on the backs of cops and firefighters is a fools errand. But since you used the term “windfall”, please share what happens to John Q. Public’s social security payments if they win millions in Powerball. That could certainly be construed as a windfall, so their SS benefits should stop…right?
Retired FirefighterParamedic, paid my pension contributions Worked 23 years of another job of max social security contributions. With WEP have to work 30 without penalty. Not fair. I paid in, pay me. Your not giving me anything.
Thank you. My research indicates, as confirmed by a SS employee, is that the number years of substantial income count stops at age 62 regardless of any substantial income earned beyond that age. So if someone reaching age 62 has , for example, 28 years of private income and 16 years of WEP employment working in local government, the WEP would be set at 80% with no way to reduce by working beyond age 62. I would encourage you to look int this as it may afect your presentations going forward. Best, Fred @@MyGovExpert
I am penalized by WEP and offset laws. I earned all my necessary SS credits while in private manufacturing. I was never given the option to remediate or prevent this reduction. Why can't there just be a law that states SS will not be reduced for any reason?
Hi Ed, I have not and am not planning on taking any UNLV pension money until I must under required minimum distribution age limits. Given this, if I die before taking any of this money and Judy is alive, how will this affect any survivor benefits under SSA??? Thanks, Mark Schaffer
Sorry for the delay. The survivor benefit will just be based on the WEPd PIA. From what I remember, Judy didn't work under non-covered employment so GPO would not apply to her.
I paid all my quarters plus into SS - I taught school and paid into a pension - my SS benefit HAS BEEN penalized - My social security benefits have been reduced - my friends that worked in private sectors and paid into SS and get pensions from their past employers - are NOT penalized. Well - pat yourself on the back for your personal experience - yes - lack of information was a slap in the face when I went to draw mine.
Unfortunately a lot of people don't read the part on the SSA website that the amount shown is not correct if you have a noncovered pension. It's not really penalized, you just don't receive the welfare allocation.
I paid my quarters and lost 40% of my SS because of WEP. I was Civil Service employee paying into a Civil Service retirement. I served in the military and received a pension. Two separate pensions. How is it fair?
Will an Adjunct Faculty be WEPed? Part time teacher in Mass, forced to pay 7.5% to ‘Smartplan’ glorified savings account, in place of Social Security. The only payout we will get is the money we paid in plus pathetic interest. There is no employer contribution and no pension based on earnings, just the money we put in + interest. We weren’t even able to ‘invest’ the money, it was in a mandatory ‘wealth preservation fund’. I am hoping this amount will not count as a ‘pension’ since it really is not!
Usually if it's just your money you are withdrawing you should be good. But a SSA rep will have to look at the exact details provided by you and your university to make the final decision. If you don't agree with their decision: ua-cam.com/video/Bh_lLFd4Z6g/v-deo.html
@@MyGovExpert Thanks so much, we haven’t much saved so hopefully WEP won’t apply. I really wish we had the option as Adjuncts to just be in Social Security!
Dr. Weird, I have an SSI issue and essentially an overpayment due to resources being too high. I'm disabled duecto ESRD and go to dialysis three times a week and my medical is pretty extensive. I live in South Texas. I've submitted the ssa561 already and waiting for response. Meanwhile beingvthreatened my medicaid will be at some point terminated. My food stamps are being taken away as well. This is the basic info. I'd like to call this week and explain. In short, my care supporter has been setting funds aside since nid June of 2021 for my post Transplant care. I made the mistake in putting those in an existing checking account and he was giving me funds from his check to add to the account. Well, I received a phone xall from SSA for a retdetermination after 8 years I might add. I was short on time do I had to cut the call short but I was asked if he had permission to check my account(s) I'm assuming for balances and once he said if I told him no, they would suspend my payments. So he discovered the amount in my other checking account and got the ball rolling. I have a good reason for these funds existing and paperwork to back it. In meantime in the SSA.gov website my ssinpayments are suspended. I filed an electronic appeal within 10 days of me receiving the letter and attached 7 different documents. How long do you think it will be before I hear something back and what is their most likely plan of attack, if you will? Oh and I received Waiver letter but I'm not sure if I should fill that out yet ssa632 until hear about appeal. BTW my overpayment is 13k. What do I do as a disabled dialysis patient with bills and responsibilities? Thank you for your time.
Hello Robert, your case sounds pretty complicated and there are several ways to address it. Sometimes it's better to do 2 or 3 things at once...SSA561 AND the SSA632. Give me a call and we'll come up with a plan of attack. I went to high school in north Texas, Paris...so I'll give you the Texas discount...zero as always!! (...all 50 states...lol). Talk to you then. If I don't pick up, just leave a message and I'll call you back the same day. Ed
Thank you very much sir for reaching out. I will definitely call you tomorrow about mid afternoon. I'm currently at hemo-dialysis and my thinking is not very clear. So you're a Texan alumnist, very cool. Ok good sir, I will talk to you tomorrow. Thanks again and have a pleasant evening.
Question; My situation is very unique, I’ve worked both in Governments and non Governmental jobs. I plan to start drawing a state and local pension in my late 50s , when I’m eligible. And at 62picku up social security,I will have still have about 32 years paid into social security as well. Only 13 are “ substantial “ the other 19 will below ,Averaging just under “ substantial “ When I do the math it looks like I’ll be withdrawing the full WEP amount. Which puts me under the “Special minimum amount “ would I receive the greater of the two? Or the penalize WEP amount ?
Sorry for the delayed reply. You usually receive the special minimum amount if that applies. But you do have a lot of moving parts there. Give me a call so I can give you a better answer. Ed, 702-738-1256
My wife worked 27 years at low paying jobs with just 7 years of substantial earnings. After that she worked at a school that does not charge FICA. How is it fair that she loses half of her $900 SS payment? Somebody that had high wages with a $3000 entitlement might only lose $200. How is that fair?
Hello Dr. Weir, your video in regards to WEP is extremely informative, but I have some extenuating circumstances that I believe you are just the person who could provide the answers to. I appreciate that you accept calls and left you a message in regards to my specific question and I’m hoping that you can provide me with an answer to that has been is of great concern as I’m only a couple of years away from applying for full age SS benefits. Thank you for your informative video and I look forward to speaking with you. John Young
Hi John, I'm about a day or two behind on my calls but I will call you back! 100% guarantee! There's so many people that need help with their particular situation. I'm so glad I can help. Talk to you soon, Ed
I get two pensions from Germany, for the same job and same time. If I don’t fall under WEP for one pension, could it still apply for the other pension?
If it's from the same job and they already decided it's not a WEP pension, then they should be good. But you should notify SSA so they can make an official determination. They will probably have to send it to OIO (Office of International Operations). Hope that helps, Ed Weir
@@markschaffer480 from my understanding that’s going to benefit in the substantial earnings category, and change your WEP penalty rate to be lower based on the years and the amount… It’s a financial calculated nightmare!!!
Explain to me how WEP is fair? I’m a Expat Brit, now a citizen. I had 25 years in the UK, and will have a state pension at 67. You don’t get a choice on whether to contribute to it. I contributed here for 18 years, and took my SS at 62 as part of our split strategy… and when I hit 67 it will get reduced because my UK State pension triggers WEP. When my wife takes SS, WEP will still reduce my spousal benefit they are telling me! If I’d never worked or contributed I’d be better off!
Since WEP will always be in use explain this sir, So I started working at an early age 13 in 1973 I have worked and paid into SS ever since, I have 40 plus years but only 26 of substantial earnings ( and two years I missed that target by $2 one year and $4 another) . I took a public service job in 2005 FD so I continue to work 2 jobs one I pay SS on the other I pay 9% to a FD pension and no SS. If I keep working the FD job and not pay into SS why cant I file for SS and continue to work without penalty? I am sure there is some Government BS reason for holding on to my earned SS.
I think comparing A and B is comparing apples to apples, but A and C is apples to oranges. Maybe B came into wealth so did not need to work for many years. But she isn't penalized for coming into wealth. A worked a job that didn't pay into Social Security, but is now penalized for that. We can't know everyone's individual circumstances, so to be fair, the pensions should be based on what was paid in. My opinion. Also, my own experience: my husband worked as a public servant and also took a side job for a while - it worked best for our family circumstances at the time for him to take the extra job rather than me, and it helped to keep us afloat. So now both he and I will be penalized by WEP whereas we wouldn't be had I worked at that time.
I’m affected by WEP because I worked for public hospitals. I do NOT have an actual pension, but instead a 403b. My 403b will run out eventually and is subject to market fluctuations. However, I am still treated by SSA as though I have a never ending pension. That just doesn’t seem correct.
My employer failed to clue us in to the implications of a non covered wage. Your experience tells you that everybody knows about wep and gpo. At least in Texas, a lot do not. I am WEP exempt, but I will get GPO'd when I take the company's contribution. Our "pensions" are based on 403b contributions into bonds/equities. Might have been great if I knew what I was doing. It's what i get for working for a mental health non-profit and not being a savy investor. Hope you are wrong and the wep and gpo are repealed.
I have been told by teachers that they knew nothing about this until they went to retire. When they questioned why the employer never told them, they were told if we told teachers when hiring them, we would not have teachers. My husband paid into social security for 54 yrs and spent 30 yrs as a Texas firefighter. His social security was penalized by 2/3's. We is that fair. Yes we live in Texas
I disagree. My husband passed away in 2018. We are raising our 4 grandchildren. When I applied for survivor benefits, I was told by SS they were for life. I continued to teach making $100000+ a year and receive my survivor benefits. However, after the pandemic I decided I could no longer teach and retired in 2022 with a $48000 pension a year and lose my survivor benefits. In California this is just not acceptable.
Condolences. Social security is clearly biased and not fair towards some government workers. Also in California we have Calpers and Calsters that under went PEPRA in 2013 and with the cost of living, taxes, and inflation it's hard to make ends meet. Still thankful, but our COLA was 2% while inflation was higher out here. It's like they want to shrink the middleclass into poverty. Gone are the days of pension spiking and service credit purchases. Meanwhile Dept Chiefs, Captains with Fire, Police, University Chancellors are still retiring with +300k.
So here we are in 2024 with a repeal going to the executive branch, why do you think the social security office didn’t just change their computer program to account for pension earnings? You thought that would happen naturally and had decades to happen but it didn’t. Thoughts? I’ve only listened to half so far so maybe you express this late in the video.
And doesn’t everyone that collects social security get 90% on their first $1,126 whether they had an an average income of $1,200 a month or $10,000 a month? Can you clarify?
Another question. In your example, person A worked 15 years in non covered employment. According to the chart you gave, wouldn’t that person just get to keep 40% under WEP but your person C got to keep 44%? Can you clarify?
My wife has 20 years of substantial earnings in the social security system and 30 years in the non social security system. She will be hit by WEP in full. Not fair that she is penalized for working as a teacher in Texas for 30 years and being hit by WEP. If I pass away prior to her she will be hit by GPO at the full amount costing her the entire amount of the survivor earned benefit. Not sure how anyone can justify this process. The system is unfair. I recommend you rethink your position.
The Windfall is an extra welfare benefit, meant for poor seniors. She won't get all the welfare extra benefit, but she might receive some based on her 20 years.
Not sure if my understanding of your comment is correct, but I took it as if the Windfall and for certain the unfair provisions of the GPO were to be repealed she would then get her earned benefits from both systems and that would be Welfare. If I understood your comment correctly, that is the nuttiest statement I have heard about the totally unfair treatment that she will be subjected to. That comment sounds very liberal to me and typical of the elitist way of thinking. I hope I misunderstood your comment. In my opinion, she paid into the SS fund like anyone else and she shouldn’t be cheated out of her earned benefit just like everyone else.
Sorry, the whole intent of the system is often misunderstood. Congress decided in the 1980s to give low wage earners more of a percentage of what they paid into SSA. For example, if someone's lifetime earnings were about $50K they might receive about 45% replacement of what they paid into SSA. If another person has lifetime earnings of $10K, then Congress thought that person was struggling throughout their lives, had no savings, no other pensions, nothing. They would probably need to file for Medicaid and food stamps. So to help that person they would receive about 90% of what they paid into SSA. Because your wife's earnings were not recorded, etc., then she just might very well be receiving up to 90%..just like a poor person. Not what another worker is getting as a replacement value that worked exactly the same amount as your wife. That is a Windfall that the Windfall Elimination Provision is meant to fix. @@DougRush-w7v
Thank you for clearing that up. I appreciate the opportunity to engage in this discussion. Your insights on the goals of Congress and their associated democratic socialist objectives of programs like SS, WEP, and the GPO are noted and now understood. My viewpoint aligns with a capitalist ideology, and it appears that our government SS program is based on democratic socialism. I have many concerns about the viability of socialistic democracy and cite examples from countries like Sweden, Denmark, Norway, Finland, and Germany. They are fortunate the USA has their back. With SS being a social welfare system, I now understand why it will also fail and support ending SS for all. No wonder it is headed for bankruptcy. Thank you for your time.@@MyGovExpert
HOW ABOUT THIS MR. ED. DO PEOPLE LOSE PART OF THEIR SOCIAL SECURITY WHEN THEY PAY INTO A 401 K? WHAT'S THE DIFFERENCE? IF THE GOVERNMENT WANTS PART OF MY PENSION HOW ABOUT PAYING SOCIAL SECURITY ON IT WHEN I START COLLECTING IT? NOT AUTOMATICALLY TAKE 40 OR 50%. YOU ARE WRONG MR. ED
I sort of agree from the WEP side of things, but GPO is different from my viewpoint. Yes, I know they're linked, but very different in many ways. I'd be happy to see changes (maybe not struck down) to GPO for many reasons.
@@MyGovExpert Thank you, I look forward to it. My wife, a CA schoolteacher, is impacted by WEP and GPO. I personally understand and agree/understand the reasoning for WEP. However, the GPO impacts her spousal and survivor benefit that is based on my decades of social security contributions. Typically, it is recommended to wait until 70 to maximize SS benefit for myself and my spouse after I am gone. But GPO means my wife will not receive a survivor benefit from my social security. Thanks, again.
So ; reallly; how can I become a client and speak with Ed ? I’m wondering if your videos and advice are legit or just another scam or phoney. I have called and tried to go to the website displayed during your videos. You say you help people and I need your help , please ! How can i gee an appointment with Dr. Ed ?
Sorry for the delay. I'm just getting too many calls everyday to handle myself so I've been spending my time coming up with a new system that will hopefully help thousands of people a day. I probably have a video that answer your question. What specific question do you have?
@@MyGovExpert i believe i have not been receiving the right amount of Survivor benefits. I have questions regarding ssi changed to survivor. I believe i have been given incorrect answers from socisl security employees. Should i try to find an attorney to answer my questions
I find your videos very informative. In this one you discuss an issue I’ve often wondered about. At minutes 24 to 25 you discuss how Social Security does not receive info from pension systems. That’s what I wonder, how does SSA know whether a pension is covered or not? If the govt employee wages were covered by SS then that is on the beneficiary’s SS Earnings report by year. I know on the SS original application one states if they will or will not be receiving a NON covered pension and is required to notify if future NON covered pension starts I imagine SSA gets copies of all the millions of 1099-Rs from annual tax filings. I’m asking from point of view of an SS beneficiary with a covered pension and not quite getting how SS sees a 1099-R and knows it’s covered. ( short of checking the employer name/ wages / SS taxes in the beneficiary account
So glad you found the videos useful. SSA receives info starting in the mid-1980s. But pretty much nothing before that. So that's why we always request an actual letter from the non-covered pension entity. In the future that probably won't be needed...hopefully.
What you have demonstrated is that WEP is needed. What you have NOT addressed is the real issue. The problem is that the formula is one-size-fits-all. It is the FORMULA that needs reform. We have had fiscally-conservative politicians (most notably Kevin Brady) realize it is the formula ITSELF that needs to be changed. As this arbitrary formula has actually provided MORE money for SS than it should, it is now a problem to fix. How can Congress create a fairer formula when the old one generated lots of extra money for decades? It is a windfall alright -- one for the SS system. So I agree with you that it won't be changed. SS needs to steal approximately $84 a month from two million people so that the other 98% can receive their full check. For most of you, what's not to love? How convenient of you to use an average salary of $50,000 for your comparison. If you used the $15,000 pension of a bus driver, the unfairness of the formula would be staring you in the face. As you know, this formula was chosen arbitrarily in the 1980s, a time when there was no data to use, so they based the formula on the average of a professional salary. Now we have years of digital data and we know that on average, the formula removes MORE Social Security benefit than it should. Often public servants in 15 states are treated WORSE than Joe the Plumber. The Congressional Research Service (CRS, the research service for Congress) just updated their report on this issue in Sept 2022. They give a very objective overview. I suggest people look it up as it explains everything about WEP. The WEP formula unfairly hits those public servants who make the least. If you drive a bus and get a small pension, the SAME reduction formula applies to you as applies to a school superintendent who receives a large pension. There are thousands of people in Texas who receive less than $1,000 in pensions. I assure you that Texas bus drivers do NOT receive pensions of $50,000 a year. The WEP has a provision that says your SS can't be reduced by more than a certain amount, but if you are almost eating cat food, that is small consolation. So yeah, sit there and defend the current WEP formula. I am just waiting for the SS system to need more funds, so they just steal 100% of it. Why even give public servants 40%? Why not just take it all? D#amn teachers, why do they need Social Security anyway? I am also amazed you are saying the WEP will "go away" simply because people will receive an accurate statement. The same arbitrary formula will STILL be used. The only difference is that the SS amount will be listed correctly on the statement. So while people are being kicked in their behind, they will see the kick coming. So it's not important that this group of people will receive too much of a reduction--as long as they know about it in advance? Pretty unbelievable.
I agree with you regarding WEP. It is indeed a fair law. No way that sporadic covered earnings history that has one SS qualified, but who otherwise has a good paycheck of uncovered earnings for decades, should get them 90% of AIME toward PIA up to that first bend point! And maybe even the 32% between bend points as well depending on amounts and years of non-coverage. Like you said it would be very unfair without WEP. And again, they aren't disqualified but reduced accordingly. On the other hand, I think GPO could use some additional treatment in your video as to fairness to better understand the logic. If a person who is qualified for full unreduced SS benefits has a spouse who was stay-at-home and has zero earnings history covered or uncovered, then they get the full spousal benefit. Staying home was a lifestyle choice. Sure there was no retirement earned by the spouse, but said spouse also provided great value of a myriad of services to the family that they would otherwise have had to pay for one way or another otherwise (childcare, home operations, property maintenance, etc.) . But if that same person's spouse worked a job with noncovered earnings (NO covered earnings history at all) and has some level of non-covered retirement from that employer, then GPO applies to a spousal benefit calculation. So my point is that with WEP there is a clear unfairness if it didn't exist because of the multiple differences regarding earnings history (amount, continuity, and bend point regions of AIME). However, in the GPO example I provide, there is zero difference in the person's earnings history (amount, continuity) and the spouse paid in zero regardless of whether spouse was 100% stay-at-home or 100% non-covered career earnings, but the latter has the spousal benefit reduced. Further, one could argue that zero consideration is given to the unpaid value of contributions of the stay-at-home spouse. I think I am missing a different argument as to the fairness logic of GPO which surely does not have to do with what a couple paid-in or differences in what they extracted from their personal lifestyle choices.
I'm gonna have to make another video on that. Not sure why they believe they should receive a 90% replacement rate when others that earned exactly the same amount receive under 50% replacement rate. And no one has ever showed me where they get the estimate they argue. Every single place that gives an estimate, SSA.gov, etc., has highlighted right below the amount: "if you will receive a non-covered pension, this estimate is incorrect!"
Good job covering a complicated topic. Missed getting a private sector pension by just a couple of years (they switched to 401ks). Public pensions are pretty generous, so WEP seems reasonable to me.
So glad to hear that I explained it well enough. The whole thing is really complicated. Please share our channel with all your friends and family. And let us know if you need help choosing a Medicare Advantage or Supplement plan, or, ACA (Obamacare). We are trying to expand and bring on a Veteran's benefits expert. So that would really help us expand! Have a great weekend, Ed Weir
Not sure why anyone would think that it is OK for ME for instance, age 63 I have worked as A public service employee and will have a private pension coming when I decide to retire, I also have worked and paid into SS since 1973 and yes I have paid in enough to recieve SS , BUT people some how believe I should be penalized for working and contributing? I have 26 years of substantial earnings ( 2 OF THOSE YEARS OF OVER 40 YEARS OF WORK I MISSED SUBSTANTIAL EARNINGS BY $2 ONE YEAR $4 ON ANOTHER YEAR). BUT I am going to be penalized . So my option Work four more years at my second job and earn more than the substantial earnings amount, which increased in 2023 to around $31k. So anyone who thinks it is fair should consider asking the government to remove the cap on paying into SS and wait to you hear the belly aching then 😆😃😀
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I paid over 40 quarters before becoming a public servant. I worked 25 years as a public servant now I'm working the private sector paying more into social security. Why should I be penalized?
I agree with you , I’m in the same boat they took 60% of my SS that I earned
EXACTLY!!!!!
It IS unfair!!!!
Same here; I'm that 3% and believe me it matters to me. I'm back to working full time, putting into SS after 28 years as a teacher. I think it's very unfair that all the SS I put in for years is taken from me. I put into my pension, that isn't free money as many think.
It's totally unfair!
@@jackiedemarco7886
Exactly 💯
Just pay people what they paid in.!!!
As a retired “cop” as you say, I am glad to see the new bill HR 85 pass very soon….Interesting watching this video from the last year about the WEP…….Funny too, the example of the Fire Chief who made $200,000 when he worked and now has two homes , etc….That would be the exception and not the norm…..When I retired I was no where near the $200,000 number , even with OT….Cut that in half and recalculate and do not mislead people. I wish you the best as I am sure you will lead the charge to attack this repeal as of Dec 2024…Funny too how I stopped at my local SSOffice in LaCrosse Wisc in October , 2024,w and I got the same attitude from a staff member there.
I didn't know about WEP until I applied for social security benefits. And I paid into social security for 18 years but WEP reduces my benefits. Is that fair? And if WEP affects such a small population the social security fund should be able to withstand the minor increase in expenditure.
Yes
I had to explain WEP to my 61 year old sister. She didn’t know she fell under it. Her & a bunch of people I worked with didn’t know we fell under WEP. Thank you for explaining it so well. Just to let you know my sister is shell shocked.
That's not good at all. More people need to know the details so they can plan accordingly. Thank you for sharing!! Just give me a call if you have any other questions. Take care, Ed
Please respond to other comments, as well.
Valid points are made.
Can anyone explain as a government retiree, why Survivor Benefits are penalized by WEP or GPO?
Especially if your late spouse was not a government employee. It doesn't make sense.
I agree! Why should a firefighter's widow have her SSA benefits taken away by GPO, just because her husband served a career as a firefighter (and some die early deaths due to that service!) It is UNAMERICAN to take her earned SSA benefits! And, as for WEP, benefits should be paid at least on the portion paid in by EVERY AMERICAN CITIZEN!
YES!!!
Survivor Benefits from your deceased spouse who never worked for a government agency, should be exempt!!!
Thanks
I have a pension from the Canadian government and fall under WEP with my Social Security payments. Of course I don't like it but I think it is fair, so I accept it. This is very well explained by Ed - thank you.
When a private sector worker pays into social security, disability and survivor benefits are part of the system. One thing Dr Weir fails to include is zero of these workers who were not paying into social security qualified for social security disability nor would their dependent children ever receive a nickel from social security from the death of a parent under a local pension. These employees paid for these benefits with pension contributions that were significantly more than social security - for the police and fire folks 2x the cost of social security.
At the same time is it’s likely Mr. Weir had 100% paid medical from his position as a federal employee. I don’t see him claiming the unfairness of that.
I paid into S.S. and into my Federal Pension and I should get back what I paid into both. No, it is not fair. I wouldn't mind paying into S.S. now that I receive my Pension but to have my S.S. automatically reduced is robbery. Sorry Ed, your explanations (excuses) don't cut it.
I worked and retired from a law enforcement agency in New Mexico. I was never told about WEP and GPO. I learned about it as I prepared to retire. I had 10 years paying into SS prior to going into law enforcement and 15 years paying into it post retirement. I do not agree with getting penalized for only paying for 25 years and having a pension. I only want my earnings to be based on what I paid into SS, not penalized for having a pension. I do believe however that the Fraternal Order of Police should be making a massive push to all law local law enforcement agencies to push for contracts that make officers pay into SS.
Simple solution. Encourage your children and family members to NEVER pursue a career in public service ( firefighting, law enforcement, education, etc.) by which this can happen to them as it has to us. This is outright THEFT by the United Stated government of OUR invested money!
You could have saved 25 minutes by saying higher income earners subsidize low income earners by giving them a greater percentage in social security than they deserve. If everything was fair, you wouldn't pay them 90% replacement value.
That's certainly another way to look at it.
Everything in government is like this! Taxes, SSI, disability, health insurance, car insurance, etc.
I didn’t know. I paid SS for 20 years. Then worked at community college bookstore. Paid into TRS. Retired TRS and I will only receive about 1/3 of my SS. This is not right!!!
Not a WEP question, but was wondering what are your thoughts on the following: Just to keep it simple, Elderly couple (A) retires at FRA and receives the maximum benefit this year of $3627 per person, per month. That's $87,048 household income per year. Elderly couple (B) also retires, working their entire lives in the public sector. They too have a combined household income of $87,048 from their pensions, where they contributed 6.2% of their paychecks towards that pension. Couple (A) pays zero income tax due to utilizing the provisional income calculation and their standard deduction, while couple (B) has a tax bill of $6,562. Is that fair, or do you think those who've paid into their pensions should be able to use the provisional calculation too?
I did not know about WEP when I was hired in Texas as a teacher. In what universe is it ok to reduce someone's earned SS benefits before and after teaching? I was not making $200,000 a year teaching in Texas. Your pronouncements of someone's income is unrealistic. I do not agree with your point of view.
Please support HR82 and end this madness.
Agreed. And although there can be a debate about whether it’s ever applicable, there should at least be income limits that exclude WEP. A huge number of people who go into teaching or other government jobs do so for just a few years, or for several years, but only at half time work, which means they are getting very little and pension anyway. Why should they be punished more than if they never worked later in life?
There needs to be shades of gray in this at least.
Here's how we can demonstrate the source of real power in a Democracy: The People
Use the attached sample letter to President and express your desire for the passage of Social Security 2100 before November 2024 election:
His Excellency
Joseph R. Biden, Jr.
President
United States of America
Dear Mr. President:
I am a 73-year old US citizen who worked for 18 years and contributed to the Social Security Fund until I was forced to retire due to cerebro-vascular stroke that forced me out of work due to disability and had since depended on my $400.00 monthly Social Security pension.
As Congressman John Larson of your own Democrat Party has repeatedly said, over and over again, that for the past 50 years since President Nixon there has been NO increase to the social security benefit of SEVENTY MILLION (70,000,000) Social Security recipients who have been DISAPPOINTED since your first election in 2020 when you failed to make good your promise to grant a measly $200.00 monthly increase in social security benefit.
I am bringing to your personal attention in your capacity as current POTUS the position of these 70,000,000 voting Social security recipients to reelect you as POTUS for the second four-year term in the event that during your current incumbency as POTUS the Social Security 2100 Bill filed by Congressman John Larson is PASSED INTO LAW by September 2024 together with the FULFILLMENT of YOUR PROMISE to grant a $200.00 across-the-board monthly increase to social security benefit.
Yours truly,
Sgd:
NELSON P.ROXAS
For: 70,000,000 Social Security Recipients Electorate
Here's how we can demonstrate the source of real power in a Democracy: The People
Use the attached sample letter to President and express your desire for the passage of Social Security 2100 before November 2024 election:
His Excellency
Joseph R. Biden, Jr.
President
United States of America
Dear Mr. President:
I am a 73-year old US citizen who worked for 18 years and contributed to the Social Security Fund until I was forced to retire due to cerebro-vascular stroke that forced me out of work due to disability and had since depended on my $400.00 monthly Social Security pension.
As Congressman John Larson of your own Democrat Party has repeatedly said, over and over again, that for the past 50 years since President Nixon there has been NO increase to the social security benefit of SEVENTY MILLION (70,000,000) Social Security recipients who have been DISAPPOINTED since your first election in 2020 when you failed to make good your promise to grant a measly $200.00 monthly increase in social security benefit.
I am bringing to your personal attention in your capacity as current POTUS the position of these 70,000,000 voting Social security recipients to reelect you as POTUS for the second four-year term in the event that during your current incumbency as POTUS the Social Security 2100 Bill filed by Congressman John Larson is PASSED INTO LAW by September 2024 together with the FULFILLMENT of YOUR PROMISE to grant a $200.00 across-the-board monthly increase to social security benefit.
Yours truly,
Sgd:
NELSON P.ROXAS
For: 70,000,000 Social Security Recipients Electorate
None of the teachers in Texas and Georgia I’ve tried to warn even believe me! 😢
I have been an adjunct struggling to pay health care and student loans… to find out only recently ( after working for 14 years) about wep and its impact has devastated me. What is horrible is how ‘full time’ faculty could have Roth accounts and if they cash out before retirement age they don’t get wep. Meanwhile I had no choice. I couldn’t do the Roth. So I don’t have that option. Also my husband paid into ss and I will be hurt hard, god forbid if he dies.meanwhile the people with big pensions ( who also got employer contributions lucky them) actually are impacted far less because it’s the first bend that’s affected. Wep was meant to pocket money for the rich at the expense of poor workers. The 30 year exemption rule? High wage worker has no problem hitting those, but me who worked many years as a private school adjunct? no even though I worked full time every year. I can’t even finish watching this as you are so out of touch with contract low wage state workers.
Thank you, as a us citizen who lives and work in Germany, I paid into the German social security for the past ,28 years and am also eligible for social security with a total of 29 years of working and paid into social security. Now that I am retired and soon will be at FRA I finally found someone who explained the WEP clearly that it made sense to me and I agree with you !!
Hi Joyce, that explanation is always difficult. Glad you understood it. Lot's of more videos to come. Please share with your friends and family. Take care, Ed
HERE IS THE BIGGEST PROBLEM WITH SOCIAL SECURITY: The Government Has Borrowed $1.7 Trillion From The Social Security Trust Fund. The government has borrowed the total value of the Trust Fund to pay for other government spending. WHY DON'T YOU TALK ABOUT THAT MR. ED?
I’m not asking for a handout, I just want what I paid. They took it out, I paid 20 yrs SS, and they are stealing it.
WEP was put in place for to keep you in poverty. We should of been able to pay into social security weather the state wanted use to or not.
Yea, I wish all government entities would participate in the SSA program. It would make everything much less confusing.
Good Video! Thanks for the explanation!! I am retired 67 y/o and have a MA city pension as well as my SS. My SS was reduced by $463.00/month due to the WEP. AND, it makes sense to me why it was reduced!!! I don't like it, but I understand it and also why it shouldn't be repealed. Have a great 2025 everyone!!!
I didn't no one thing about the wep and gpo and,I'm in Texas, I just informed my family member that worked in the school system to get out now.
Sorry, but I disagree. I never in my life made 50,000 usd. I worked my first 20 years, Stateside then moved to Sweden. Because I moved so late in life to Sweden, my pension here is crap. And then SSA throws WEP at me. It's crap.
We who live and work overseas arr treated as second class citizens. I payed into the system for those first 20 years.
Be as blunt as you want but it is unfair for we who are not domestic US residents.
It is crap.
Sorry about your experiences with the SSA system.
Yes, the WEP formula is crap. The arbitrary formula of 40% was pretty much picked out of thin air in the 1980s because it was based on an average professional salary. The one-size-fits-all formula removes TOO MUCH of a person's SS benefit, on average. This means you are treated worse than the average wage earner in terms of receiving SS benefits.
This is true for many public servants in 15 states as well. Many Texas bus drivers receive very small education pensions. The same reduction formula applies to them as to a school superintendent.
The speaker gives an example of the average salary of $50,000. How convenient. This example demonstrates the NEED for a WEP formula. It does not explain the unfairness of the actual formula being used.
The speaker is correct, however, in that the formula will never be repealed. I think it is also likely the formula will never be changed as it helps to prop up the entire SS system.
Welcome to America and enjoy the same a##-kicking as it gives to poorer public servants in 15 states!
My sister and several of her co-workers who worked for a local government agency, had no clue about WEP.
They really need to do a better job telling people about it.
Sorry to be so blunt in several places. Be sure to comment and let me know if you think I am way off base. But if you do need help navigating Social Security AND Medicare (including Medicare Part C and D), give me a call: 888-817-0446
Hello Ed,
I understand and agree with the reasoning. To change perspective on how government finances in general work and SS in particular please check out what economist Stephanie Kelton teaches regarding Modern Monetary Theory. She blows up how people understand the monetary system from the Federal level. If you have time her book is eye opening: "The Deficit Myth".
All the best,
Mark Schaffer
Thanks for the feedback Mark! I'll definitely check out that book! I'm slowly but surely building up an entire video library to help people navigate Social Security AND Medicare. Hope to have at least a few hundred videos done by the end of the year. Take care, Ed
My next question is when the WEP is calculated. It seems obvious to wait for that calculation to include a delayed retirement and not my FRA amount?
@@pgpc6448 It is calculated based off your FRA PIA (Primary Insurance Amount), even if you start taking benefits at 62, 67, or 70.
@@MyGovExpert okay, so that’s a calculation of a lower amount so where does waiting to collect these benes after FRA when you have to incorporate WEP? I really appreciate these responses 😉 b4 I head to the SSA office and hassle with a clerk 🤦🏻♀️
Hello, I am a widow. I have a pension in my country from my own work. Here in the U.S. I only worked for 3 months. I just turned 60 years and I want to apply for widow benefits on my Husband's record. Will Social Security reduce the amount on my husband's record for the pension that I have in my country?
With over 300 co-sponsors on HR 82 what is your prognosis? Pass or sine die when legislative session ends.
You never know. But they have been trying to cancel it for decades.
@@MyGovExpertWhat gets me is that taxpayers, 90% of which are in the private sector are paying a huge cost to keep public pension systems in practically every state from going insolvent. In 2022 taxpayers in Kentucky contributed $5.82 dollars to every $1.00 dollar plan members contributed: about 30% above that of public pension member contributions. It's all in the financial report. If public servants are eligible for SS benefits because they contributed then by their own logic, I should be eligible for public pension benefits because my tax dollars have contributed to the public pension system for over 50 years. Currently accrued public pension liability grows 3 times the rate of the states GDP. And the public service sector is still not happy. It has the state in a financial crisis.
@@glockonr I never thought of that but that is an excellent point
@@davidcastelli7893 "I never thought of that but that is an excellent point" That's almost word for word what my representative Brett Guthrie told me. It didn't deter him from co-sponsoring the bill. I can just speak for Kentucky. The 8 public pension systems combined have a total unfunded public pension liability of nearly $40 BILLION dollars. The Kentucky taxpayers are making an average payment of $1,598,570,720 billion dollars every year and will until 2049. Every state has public pension issues but elected officials do not won't to talk about it. When social security goes broke, we will still have to pay their benefits. Public servants are not the victims here. Private sector taxpayers are the victims.
I paid into STRS
I am vested
I paid into SS
I qualify
If I paid fully into BOTH
I think, I should get both too
A pension of $500/month is not much in Los Angeles, California
I should get $200/month in Social Security benefits
But if I only get the $500/month, I will be on Skid Row....
INFLATION FOR A SINGLE WOMAN IS BRUTAL.
Unfair for women working 2-3 💪 jobs
I agree! For those at the lower end of the scale, they should really redo the calculations.
@MyGovExpert that's why I worked so hard to qualify for SS in addition to STRS.
I am a Substitute Teacher.
WHEN THEY FIGURED OUT MY SOCIAL SECURITY BENEFIT WHILE LOOKING AT MY PENSION THEY DECIDED ONLY MY TOP 3 YEARS PAID INTO SOCIAL SECURITY MATTERED ,,,,, THE OTHER 28 YEARS I PAID INTO SOCIAL SECURITY DIDN'T MATTER, THAT DIDN'T COUNT! WHAT? MY SOCIAL SECURITY WAS CUT IN HALF. YOU THINK THAT'S FAIR MR. ED?
I’m in the Indiana Police and Fire ‘77 pension fund. I pay no social security but I do pay 6% and the city pays 19.5% annually into the pension fund. We have an option for a 457B also. I only have 14 years of meeting the SS wage. I knew early in my career that WEP would apply and do not expect much as a SS benefit. I understand I didn’t pay into it so why would I get more than the 40%? Awesome information! 👏👏👏👏
Yeah! I guess you're right there. Just as easy as it was out on, it will eventually be removed. Once it doesn't serve the government sector anymore.
Social Security needs to update the individual's online estimate to include wep so they can be aware of it. Any idea why this is not being done. Thanks for sharing your thoughts on this subject.
It's a computer/data issue. Basically SSA doesn't have what people made under those non covered earnings because the states, etc weren't mandated to inform SSA. So until all the states/cities/counties report all the earnings going back to the 1980s, then it can't be posted/calculated accurately.
The federal government volunteered us for philanthropy. The federal government should explain it as well as this gentleman has. I don’t mind philanthropy but I do mind being told I have been volunteered for it. I believe in sharing the good we’ve earned with those whose circumstances were different. The federal government finds money for every military toy they build and for their waste and thought I’ll take money from those who provided public service for over 30 years. The fed’s trick is to tell us this in our 50s and 60s when we’re tired to do anything about it. There aren’t enough expletives for the feds who can’t find a little money in their 5 Trillion annual budget to take care of less fortunate people. Instead they’re taking it from the workhorses of society. The American Dream is to leave America.
SO if it is " fair" why is it not applied to everyone and not just to those in few select states? Why do they not refund the money the Tax payer was forced to pay in? It is just another way the government picks the pocket of the tax payer
Because only a few states opt out SSA and didn't report those non-covered earnings to SSA.
My husband has a pension. Will it affect my social security benefit? Will he get a survivor benefit? I get a survivor benefit, will that affect my social security benefit? Need this information. Help!
Private pensions don't affect SSA benefits. Survivor benefits depends on the amounts you receive.
If I'm only going to get around 40% of my Social Security, I should only have to pay 40% of the full amount of Social Security I'm currently paying or my job that falls under Social Security.
Sorry, not so much. You just won't receive the windfall Congress intended to go to impoverished Americans.
@@MyGovExpertThat’s a ridiculous comment. Firefighters often work 2nd jobs and pay into SS. I’m fine if my SS benefits are reduced by x percent, so if this stands the proper thing to do is refund the appropriate amount of contributions. I understand that this has been in place for so long that the thought of change is challenging for some. Trying to balance SS on the backs of cops and firefighters is a fools errand. But since you used the term “windfall”, please share what happens to John Q. Public’s social security payments if they win millions in Powerball. That could certainly be construed as a windfall, so their SS benefits should stop…right?
Retired FirefighterParamedic, paid my pension contributions Worked 23 years of another job of max social security contributions. With WEP have to work 30 without penalty. Not fair. I paid in, pay me. Your not giving me anything.
Why does the administration not count income, where someone works at a job paying into SS, earned after age 62 for credit toward WEP reduction?
They should if it is a substantial year.
Thank you. My research indicates, as confirmed by a SS employee, is that the number years of substantial income count stops at age 62 regardless of any substantial income earned beyond that age. So if someone reaching age 62 has , for example, 28 years of private income and 16 years of WEP employment working in local government, the WEP would be set at 80% with no way to reduce by working beyond age 62. I would encourage you to look int this as it may afect your presentations going forward. Best, Fred @@MyGovExpert
This was a year ago, how do you feel now? Thought you were all about getting the most you can from SS?
With your 20 years experience at SS office no wonder it’s all screwed up.
I am penalized by WEP and offset laws. I earned all my necessary SS credits while in private manufacturing. I was never given the option to remediate or prevent this reduction. Why can't there just be a law that states SS will not be reduced for any reason?
Hi Ed,
I have not and am not planning on taking any UNLV pension money until I must under required minimum distribution age limits. Given this, if I die before taking any of this money and Judy is alive, how will this affect any survivor benefits under SSA???
Thanks,
Mark Schaffer
Sorry for the delay. The survivor benefit will just be based on the WEPd PIA. From what I remember, Judy didn't work under non-covered employment so GPO would not apply to her.
@MyGovExpert thank you Ed. I did have to look up the acronyms to be clear, so you might want to include the definition for acronyms.
@@markschaffer480 Sorry, Yea, that's what happens when you work for the bureaucracy for decades! Lol
I paid all my quarters plus into SS - I taught school and paid into a pension - my SS benefit HAS BEEN penalized - My social security benefits have been reduced - my friends that worked in private sectors and paid into SS and get pensions from their past employers - are NOT penalized. Well - pat yourself on the back for your personal experience - yes - lack of information was a slap in the face when I went to draw mine.
Unfortunately a lot of people don't read the part on the SSA website that the amount shown is not correct if you have a noncovered pension. It's not really penalized, you just don't receive the welfare allocation.
Any chance you could write out the calculation for PIA? I'm not getting the same amounts for PIA compared to the spreadsheet. Thank you
Do you already have your AIME (Average Indexed Monthly Earnings) calculated?
I paid my quarters and lost 40% of my SS because of WEP. I was Civil Service employee paying into a Civil Service retirement. I served in the military and received a pension. Two separate pensions. How is it fair?
ua-cam.com/users/live2Osk_Zqbr2E?feature=share
Will an Adjunct Faculty be WEPed? Part time teacher in Mass, forced to pay 7.5% to ‘Smartplan’ glorified savings account, in place of Social Security. The only payout we will get is the money we paid in plus pathetic interest. There is no employer contribution and no pension based on earnings, just the money we put in + interest. We weren’t even able to ‘invest’ the money, it was in a mandatory ‘wealth preservation fund’. I am hoping this amount will not count as a ‘pension’ since it really is not!
Usually if it's just your money you are withdrawing you should be good. But a SSA rep will have to look at the exact details provided by you and your university to make the final decision. If you don't agree with their decision: ua-cam.com/video/Bh_lLFd4Z6g/v-deo.html
@@MyGovExpert Thanks so much, we haven’t much saved so hopefully WEP won’t apply. I really wish we had the option as Adjuncts to just be in Social Security!
@@dvalentine2008 I've been an adjunct for 20+ years. Pretty much second class citizens when it comes to some benefits.
Dr. Weird, I have an SSI issue and essentially an overpayment due to resources being too high. I'm disabled duecto ESRD and go to dialysis three times a week and my medical is pretty extensive. I live in South Texas. I've submitted the ssa561 already and waiting for response. Meanwhile beingvthreatened my medicaid will be at some point terminated. My food stamps are being taken away as well. This is the basic info. I'd like to call this week and explain. In short, my care supporter has been setting funds aside since nid June of 2021 for my post Transplant care. I made the mistake in putting those in an existing checking account and he was giving me funds from his check to add to the account. Well, I received a phone xall from SSA for a retdetermination after 8 years I might add. I was short on time do I had to cut the call short but I was asked if he had permission to check my account(s) I'm assuming for balances and once he said if I told him no, they would suspend my payments. So he discovered the amount in my other checking account and got the ball rolling. I have a good reason for these funds existing and paperwork to back it. In meantime in the SSA.gov website my ssinpayments are suspended. I filed an electronic appeal within 10 days of me receiving the letter and attached 7 different documents. How long do you think it will be before I hear something back and what is their most likely plan of attack, if you will? Oh and I received Waiver letter but I'm not sure if I should fill that out yet ssa632 until hear about appeal. BTW my overpayment is 13k. What do I do as a disabled dialysis patient with bills and responsibilities? Thank you for your time.
Hello Robert, your case sounds pretty complicated and there are several ways to address it. Sometimes it's better to do 2 or 3 things at once...SSA561 AND the SSA632. Give me a call and we'll come up with a plan of attack. I went to high school in north Texas, Paris...so I'll give you the Texas discount...zero as always!! (...all 50 states...lol). Talk to you then. If I don't pick up, just leave a message and I'll call you back the same day. Ed
Thank you very much sir for reaching out. I will definitely call you tomorrow about mid afternoon. I'm currently at hemo-dialysis and my thinking is not very clear. So you're a Texan alumnist, very cool. Ok good sir, I will talk to you tomorrow. Thanks again and have a pleasant evening.
Question; My situation is very unique, I’ve worked both in Governments and non Governmental jobs. I plan to start drawing a state and local pension in my late 50s , when I’m eligible. And at 62picku up social security,I will have still have about 32 years paid into social security as well. Only 13 are “ substantial “ the other 19 will below ,Averaging just under “ substantial “ When I do the math it looks like I’ll be withdrawing the full WEP amount. Which puts me under the “Special minimum amount “ would I receive the greater of the two? Or the penalize WEP amount ?
Sorry for the delayed reply. You usually receive the special minimum amount if that applies. But you do have a lot of moving parts there. Give me a call so I can give you a better answer. Ed, 702-738-1256
They just repealed the WEP and GPO
My wife worked 27 years at low paying jobs with just 7 years of substantial earnings. After that she worked at a school that does not charge FICA. How is it fair that she loses half of her $900 SS payment? Somebody that had high wages with a $3000 entitlement might only lose $200. How is that fair?
She doesn't technically lose it. She just doesn't get the extra welfare increase
Hello Dr. Weir, your video in regards to WEP is extremely informative, but I have some extenuating circumstances that I believe you are just the person who could provide the answers to. I appreciate that you accept calls and left you a message in regards to my specific question and I’m hoping that you can provide me with an answer to that has been is of great concern as I’m only a couple of years away from applying for full age SS benefits. Thank you for your informative video and I look forward to speaking with you. John Young
Hi John, I'm about a day or two behind on my calls but I will call you back! 100% guarantee! There's so many people that need help with their particular situation. I'm so glad I can help. Talk to you soon, Ed
I get two pensions from Germany, for the same job and same time. If I don’t fall under WEP for one pension, could it still apply for the other pension?
If it's from the same job and they already decided it's not a WEP pension, then they should be good. But you should notify SSA so they can make an official determination. They will probably have to send it to OIO (Office of International Operations). Hope that helps, Ed Weir
Thank you for this!
Still trying to figure out how to get around this, hahaha😮
@@pgpc6448 FYI. Since SS wasn't being taken out of my paycheck I was making more during those years. I invested the saved money plus more.
@@markschaffer480 from my understanding that’s going to benefit in the substantial earnings category, and change your WEP penalty rate to be lower based on the years and the amount… It’s a financial calculated nightmare!!!
That's correct.
Explain to me how WEP is fair?
I’m a Expat Brit, now a citizen. I had 25 years in the UK, and will have a state pension at 67. You don’t get a choice on whether to contribute to it.
I contributed here for 18 years, and took my SS at 62 as part of our split strategy… and when I hit 67 it will get reduced because my UK State pension triggers WEP. When my wife takes SS, WEP will still reduce my spousal benefit they are telling me!
If I’d never worked or contributed I’d be better off!
WEP simply takes the welfare part away from people it wasn't designed for.
Since WEP will always be in use explain this sir, So I started working at an early age 13 in 1973 I have worked and paid into SS ever since, I have 40 plus years but only 26 of substantial earnings ( and two years I missed that target by $2 one year and $4 another) . I took a public service job in 2005 FD so I continue to work 2 jobs one I pay SS on the other I pay 9% to a FD pension and no SS.
If I keep working the FD job and not pay into SS why cant I file for SS and continue to work without penalty?
I am sure there is some Government BS reason for holding on to my earned SS.
Yea, the annual earnings limit for early retirement is still there regardless.
I think comparing A and B is comparing apples to apples, but A and C is apples to oranges. Maybe B came into wealth so did not need to work for many years. But she isn't penalized for coming into wealth. A worked a job that didn't pay into Social Security, but is now penalized for that. We can't know everyone's individual circumstances, so to be fair, the pensions should be based on what was paid in. My opinion.
Also, my own experience: my husband worked as a public servant and also took a side job for a while - it worked best for our family circumstances at the time for him to take the extra job rather than me, and it helped to keep us afloat. So now both he and I will be penalized by WEP whereas we wouldn't be had I worked at that time.
I’m affected by WEP because I worked for public hospitals. I do NOT have an actual pension, but instead a 403b. My 403b will run out eventually and is subject to market fluctuations. However, I am still treated by SSA as though I have a never ending pension. That just doesn’t seem correct.
Please check out my new video on WEP...Take the WEP Challenge.
My employer failed to clue us in to the implications of a non covered wage. Your experience tells you that everybody knows about wep and gpo. At least in Texas, a lot do not. I am WEP exempt, but I will get GPO'd when I take the company's contribution. Our "pensions" are based on 403b contributions into bonds/equities. Might have been great if I knew what I was doing. It's what i get for working for a mental health non-profit and not being a savy investor. Hope you are wrong and the wep and gpo are repealed.
Sorry to hear they did not share that info with you. I went to high school in Texas, Paris, and I know Texas does some strange things!
I have been told by teachers that they knew nothing about this until they went to retire. When they questioned why the employer never told them, they were told if we told teachers when hiring them, we would not have teachers. My husband paid into social security for 54 yrs and spent 30 yrs as a Texas firefighter. His social security was penalized by 2/3's. We is that fair. Yes we live in Texas
I disagree. My husband passed away in 2018. We are raising our 4 grandchildren. When I applied for survivor benefits, I was told by SS they were for life. I continued to teach making $100000+ a year and receive my survivor benefits. However, after the pandemic I decided I could no longer teach and retired in 2022 with a $48000 pension a year and lose my survivor benefits. In California this is just not acceptable.
Sorry to hear that.
Condolences. Social security is clearly biased and not fair towards some government workers. Also in California we have Calpers and Calsters that under went PEPRA in 2013 and with the cost of living, taxes, and inflation it's hard to make ends meet. Still thankful, but our COLA was 2% while inflation was higher out here. It's like they want to shrink the middleclass into poverty. Gone are the days of pension spiking and service credit purchases. Meanwhile Dept Chiefs, Captains with Fire, Police, University Chancellors are still retiring with +300k.
So here we are in 2024 with a repeal going to the executive branch, why do you think the social security office didn’t just change their computer program to account for pension earnings? You thought that would happen naturally and had decades to happen but it didn’t. Thoughts? I’ve only listened to half so far so maybe you express this late in the video.
And doesn’t everyone that collects social security get 90% on their first $1,126 whether they had an an average income of $1,200 a month or $10,000 a month? Can you clarify?
Another question. In your example, person A worked 15 years in non covered employment. According to the chart you gave, wouldn’t that person just get to keep 40% under WEP but your person C got to keep 44%? Can you clarify?
My wife has 20 years of substantial earnings in the social security system and 30 years in the non social security system. She will be hit by WEP in full. Not fair that she is penalized for working as a teacher in Texas for 30 years and being hit by WEP. If I pass away prior to her she will be hit by GPO at the full amount costing her the entire amount of the survivor earned benefit. Not sure how anyone can justify this process. The system is unfair. I recommend you rethink your position.
The Windfall is an extra welfare benefit, meant for poor seniors. She won't get all the welfare extra benefit, but she might receive some based on her 20 years.
Not sure if my understanding of your comment is correct, but I took it as if the Windfall and for certain the unfair provisions of the GPO were to be repealed she would then get her earned benefits from both systems and that would be Welfare. If I understood your comment correctly, that is the nuttiest statement I have heard about the totally unfair treatment that she will be subjected to. That comment sounds very liberal to me and typical of the elitist way of thinking. I hope I misunderstood your comment. In my opinion, she paid into the SS fund like anyone else and she shouldn’t be cheated out of her earned benefit just like everyone else.
Sorry, the whole intent of the system is often misunderstood. Congress decided in the 1980s to give low wage earners more of a percentage of what they paid into SSA. For example, if someone's lifetime earnings were about $50K they might receive about 45% replacement of what they paid into SSA. If another person has lifetime earnings of $10K, then Congress thought that person was struggling throughout their lives, had no savings, no other pensions, nothing. They would probably need to file for Medicaid and food stamps. So to help that person they would receive about 90% of what they paid into SSA. Because your wife's earnings were not recorded, etc., then she just might very well be receiving up to 90%..just like a poor person. Not what another worker is getting as a replacement value that worked exactly the same amount as your wife. That is a Windfall that the Windfall Elimination Provision is meant to fix. @@DougRush-w7v
Thank you for clearing that up. I appreciate the opportunity to engage in this discussion. Your insights on the goals of Congress and their associated democratic socialist objectives of programs like SS, WEP, and the GPO are noted and now understood. My viewpoint aligns with a capitalist ideology, and it appears that our government SS program is based on democratic socialism. I have many concerns about the viability of socialistic democracy and cite examples from countries like Sweden, Denmark, Norway, Finland, and Germany. They are fortunate the USA has their back. With SS being a social welfare system, I now understand why it will also fail and support ending SS for all. No wonder it is headed for bankruptcy. Thank you for your time.@@MyGovExpert
Thank you
You're welcome
LOL - it happened!
HOW ABOUT THIS MR. ED. DO PEOPLE LOSE PART OF THEIR SOCIAL SECURITY WHEN THEY PAY INTO A 401 K? WHAT'S THE DIFFERENCE? IF THE GOVERNMENT WANTS PART OF MY PENSION HOW ABOUT PAYING SOCIAL SECURITY ON IT WHEN I START COLLECTING IT? NOT AUTOMATICALLY TAKE 40 OR 50%. YOU ARE WRONG MR. ED
Doesn't know what he is talking about. It was REPEALED because it was both unfair and cruel.
I sort of agree from the WEP side of things, but GPO is different from my viewpoint. Yes, I know they're linked, but very different in many ways. I'd be happy to see changes (maybe not struck down) to GPO for many reasons.
Thanks! Everything can certainly be improved!
Will you be doing a video on GPO?
Yes, not very soon though.
@@MyGovExpert Thank you, I look forward to it. My wife, a CA schoolteacher, is impacted by WEP and GPO. I personally understand and agree/understand the reasoning for WEP. However, the GPO impacts her spousal and survivor benefit that is based on my decades of social security contributions. Typically, it is recommended to wait until 70 to maximize SS benefit for myself and my spouse after I am gone. But GPO means my wife will not receive a survivor benefit from my social security. Thanks, again.
Looks like you were wrong on this one!
I challenge anyone out there to debate me LIVE!! Politicians? Teachers?
So ; reallly; how can I become a client and speak with Ed ? I’m wondering if your videos and advice are legit or just another scam or phoney. I have called and tried to go to the website displayed during your videos. You say you help people and I need your help , please ! How can i gee an appointment with Dr. Ed ?
Sorry for the delay. I'm just getting too many calls everyday to handle myself so I've been spending my time coming up with a new system that will hopefully help thousands of people a day.
I probably have a video that answer your question. What specific question do you have?
@@MyGovExpert i believe i have not been receiving the right amount of Survivor benefits. I have questions regarding ssi changed to survivor. I believe i have been given incorrect answers from socisl security employees. Should i try to find an attorney to answer my questions
I find your videos very informative. In this one you discuss an issue I’ve often wondered about. At minutes 24 to 25 you discuss how Social Security does not receive info from pension systems. That’s what I wonder, how does SSA know whether a pension is covered or not?
If the govt employee wages were covered by SS then that is on the beneficiary’s SS Earnings report by year. I know on the SS original application one states if they will or will not be receiving a NON covered pension and is required to notify if future NON covered pension starts
I imagine SSA gets copies of all the millions of 1099-Rs from annual tax filings.
I’m asking from point of view of an SS beneficiary with a covered pension and not quite getting how SS sees a 1099-R and knows it’s covered. ( short of checking the employer name/ wages / SS taxes in the beneficiary account
So glad you found the videos useful. SSA receives info starting in the mid-1980s. But pretty much nothing before that. So that's why we always request an actual letter from the non-covered pension entity. In the future that probably won't be needed...hopefully.
Thanks!
What you have demonstrated is that WEP is needed. What you have NOT addressed is the real issue. The problem is that the formula is one-size-fits-all. It is the FORMULA that needs reform.
We have had fiscally-conservative politicians (most notably Kevin Brady) realize it is the formula ITSELF that needs to be changed. As this arbitrary formula has actually provided MORE money for SS than it should, it is now a problem to fix. How can Congress create a fairer formula when the old one generated lots of extra money for decades?
It is a windfall alright -- one for the SS system. So I agree with you that it won't be changed. SS needs to steal approximately $84 a month from two million people so that the other 98% can receive their full check. For most of you, what's not to love?
How convenient of you to use an average salary of $50,000 for your comparison. If you used the $15,000 pension of a bus driver, the unfairness of the formula would be staring you in the face.
As you know, this formula was chosen arbitrarily in the 1980s, a time when there was no data to use, so they based the formula on the average of a professional salary. Now we have years of digital data and we know that on average, the formula removes MORE Social Security benefit than it should. Often public servants in 15 states are treated WORSE than Joe the Plumber.
The Congressional Research Service (CRS, the research service for Congress) just updated their report on this issue in Sept 2022. They give a very objective overview. I suggest people look it up as it explains everything about WEP.
The WEP formula unfairly hits those public servants who make the least. If you drive a bus and get a small pension, the SAME reduction formula applies to you as applies to a school superintendent who receives a large pension. There are thousands of people in Texas who receive less than $1,000 in pensions. I assure you that Texas bus drivers do NOT receive pensions of $50,000 a year. The WEP has a provision that says your SS can't be reduced by more than a certain amount, but if you are almost eating cat food, that is small consolation.
So yeah, sit there and defend the current WEP formula. I am just waiting for the SS system to need more funds, so they just steal 100% of it. Why even give public servants 40%? Why not just take it all? D#amn teachers, why do they need Social Security anyway?
I am also amazed you are saying the WEP will "go away" simply because people will receive an accurate statement. The same arbitrary formula will STILL be used. The only difference is that the SS amount will be listed correctly on the statement. So while people are being kicked in their behind, they will see the kick coming. So it's not important that this group of people will receive too much of a reduction--as long as they know about it in advance?
Pretty unbelievable.
Semper Fi
I agree with you regarding WEP. It is indeed a fair law. No way that sporadic covered earnings history that has one SS qualified, but who otherwise has a good paycheck of uncovered earnings for decades, should get them 90% of AIME toward PIA up to that first bend point! And maybe even the 32% between bend points as well depending on amounts and years of non-coverage. Like you said it would be very unfair without WEP. And again, they aren't disqualified but reduced accordingly. On the other hand, I think GPO could use some additional treatment in your video as to fairness to better understand the logic. If a person who is qualified for full unreduced SS benefits has a spouse who was stay-at-home and has zero earnings history covered or uncovered, then they get the full spousal benefit. Staying home was a lifestyle choice. Sure there was no retirement earned by the spouse, but said spouse also provided great value of a myriad of services to the family that they would otherwise have had to pay for one way or another otherwise (childcare, home operations, property maintenance, etc.) . But if that same person's spouse worked a job with noncovered earnings (NO covered earnings history at all) and has some level of non-covered retirement from that employer, then GPO applies to a spousal benefit calculation. So my point is that with WEP there is a clear unfairness if it didn't exist because of the multiple differences regarding earnings history (amount, continuity, and bend point regions of AIME). However, in the GPO example I provide, there is zero difference in the person's earnings history (amount, continuity) and the spouse paid in zero regardless of whether spouse was 100% stay-at-home or 100% non-covered career earnings, but the latter has the spousal benefit reduced. Further, one could argue that zero consideration is given to the unpaid value of contributions of the stay-at-home spouse. I think I am missing a different argument as to the fairness logic of GPO which surely does not have to do with what a couple paid-in or differences in what they extracted from their personal lifestyle choices.
I'm gonna have to make another video on that. Not sure why they believe they should receive a 90% replacement rate when others that earned exactly the same amount receive under 50% replacement rate. And no one has ever showed me where they get the estimate they argue. Every single place that gives an estimate, SSA.gov, etc., has highlighted right below the amount: "if you will receive a non-covered pension, this estimate is incorrect!"
Good job covering a complicated topic. Missed getting a private sector pension by just a couple of years (they switched to 401ks). Public pensions are pretty generous, so WEP seems reasonable to me.
So glad to hear that I explained it well enough. The whole thing is really complicated. Please share our channel with all your friends and family. And let us know if you need help choosing a Medicare Advantage or Supplement plan, or, ACA (Obamacare). We are trying to expand and bring on a Veteran's benefits expert. So that would really help us expand! Have a great weekend, Ed Weir
Not sure why anyone would think that it is OK for ME for instance, age 63 I have worked as A public service employee and will have a private pension coming when I decide to retire, I also have worked and paid into SS since 1973 and yes I have paid in enough to recieve SS , BUT people some how believe I should be penalized for working and contributing? I have 26 years of substantial earnings ( 2 OF THOSE YEARS OF OVER 40 YEARS OF WORK I MISSED SUBSTANTIAL EARNINGS BY $2 ONE YEAR $4 ON ANOTHER YEAR). BUT I am going to be penalized . So my option Work four more years at my second job and earn more than the substantial earnings amount, which increased in 2023 to around $31k. So anyone who thinks it is fair should consider asking the government to remove the cap on paying into SS and wait to you hear the belly aching then 😆😃😀
@@robertengine2171 right there with you Robert! Completely agree.
HOW DOES IT FEEL BEING THE GROM REAPER OF BAD NEWS? I BET YOU REALLY LIKED DELIVERING THIS DEVASTATING NEWS TO PEOPLE.