UPDATE: Social Security Fairness Act Could Pass [WEP and GPO Eliminated?]
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- Опубліковано 7 сер 2024
- UPDATE: Social Security Fairness Act Could Pass [WEP and GPO Eliminated?]
Windfall Elimination Provision (WEP) Guide www.ssa.gov/pubs/EN-05-10045.pdf
Windfall Elimination Provision (WEP) Calculator www.ssa.gov/benefits/retireme...
Government Pension Offset (GPO) Guide
www.ssa.gov/pubs/EN-05-10007.pdf
Government Pension Offset (GPO) Calculator www.ssa.gov/benefits/retireme...
SSA Frequently Asked Questions
faq.ssa.gov/en-US/
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#socialsecuritycrisis #socialsecuritynews #socialsecuritybenefits #socialsecurity #gpo #pensions #pensionnews #pensioners_news - Навчання та стиль
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Thank you SO much for supporting public service workers. Retired firefighters, police officers, first responders & teachers can’t pay their bills! I paid into Social Security for 20 years. I worked in cancer research and teaching in private schools. I answered the president’s call to go into public education and now MOST of my Social Security is taken from me. I switched mid-career so I couldn’t teach six lab classes a day into my seventies. It takes a lot of energy to teach six lab classes a day with 30 students at a time. I simply could not physically do it anymore. So I retired with 25 years in public education ( 40% pension). I taught 11 years in the private schools and two years in cancer research prior to the 25 years in public education. I was counting on my Social Security. I EARNED this money! I thought I would get about $1000 a month instead I get $246 a month after the Medicare premium is taken out. This is so unjust. I worked my whole life and I cannot support myself. I am struggling.
I don't understand how they keep penalizing and taking more money from people
Greed and corruption. God will win.
KNOW WHO YOU’RE VOTING FOR
Thanks Dave for your report today ! Have a great weekend everybody ! unfair needs to be changed get another pension ! Ppl.earned it ! 😊
Social Security THEMSELVES say that they WERENT mean to be a person's SOLE income YET they PENALIZE people who have other income.. They make ZERO SENSE.
They ADJUST benefits for persons that did not contribute to SS for there entire work history.
When a normal person takes on a second/additional job, they get a replacement rate of 32%. Folks that earned non-covered pensions (with avg monthly earning about $1.2K) get 40% replacement rate, but you aren't satisfied making a bit more, you want to make 90% replacement on those earnings.
I’m affected
It SUCKS
P thank you David for your hard work and all these updates
It's 'Government Criminal Larceny'!!!
It's as I bogus laws by the government. No matter how much we contribute we can't collect 85 percent of the monies contribute by a taxpayer.
but thats just kicking the can down the road, people paying now will want and expect to collect later
Why do I feel this system is very unfair and just no good !!!!
IMHO, the more responsible a person becomes, the more my government wants to penalize said responsibility by giving it away to those with no desire to be personally responsible--for anything! WE'RE DOOMED!!! Thanks for reading...Roy, So Cal.
BUT THE GOV KNEW WOW INMAGINE THAT
Thank you so much for your educational videos. Not only I will get penalized by WEP, so will my husband who has a foreign pension. He will have 15 years payroll contribution in 4 years when he retires at age 62. Between two of us we are going to lose almost $1200 per month. This is disgusting to penalize people with foreign pensions. He came to US at age of 52. I understand to pay taxes but double penalizing people is so unfair.
Great Job,, WEP and GPO are totally unfair!
When a normal person takes on a second/additional job, they get an SS replacement rate of 32%. Folks that earned non-covered pensions (with avg money earning about $1.2K) get 40% replacement rate, but you aren't satisfied making a bit more, you want to make 90% replacement on those earnings.
This affects me too!....Government really screwed us!...Thank You Ronald Reagan!
Thanks for the info/update David! God Bless❤
Good evening 🌇 David. I hope you’re doing great today and thank you for the update on our government system
I agree with you and reform is also needed. we work all our life and should benefit from both.
Best explanation I’ve heard ! Great video !
good job.
Very good discussion thanks
Thanks for listening
Liked and shared like always😂❤❤❤❤
Thanks for sharing 😊 13:41
Thanks for watching!
Blue 💙💙💙 Tsunami 🌊🌊🌊!!!
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Wow! Please keep talking about this so I can understand this. I am a widow and I don't want to be in the dark. Thank you.
I kinda did the opposite of you. I paid into social for 23 years then im working at my local school district for 10 years now. I plan to do at least 20 years then maybe go back to paying social for a few more years part time of course. I found out if you pay into social for 30 years the Wep goes away. I thought about doing that but then I'll be able to collect social at 70 years old. Not the greatest plan but i don't know what else to do. Hopefully this Fairness Act passes.
Wheres my stimulus money
All true, but you should mention the max WEP which currently (June, 2024) is $587. I only mention because max WEP will be less than half for benefits, $1200.00 and over. (my situation) I am waiting until 70 so that the portion I DO receive is larger. AND, perhaps law will change by then.
By the way Thank you for your service in Law Enforcement. God Bless you and our protectors!
I have a question about a pension do you contribute to it and is there a percentage that you pay
I paid for my pension. I also worked many years in jobs covered by Social Security. Obviously I would get less social security because I didn't pay in as much. I was fine with that. However I also got a huge reduction because I had a pension that I paid for. The rationalition is that you were a high income worker, but you might be getting a slightly better social security amount because it appears that you might have made a higher income. But there's no calculation done to determine what level of income you actually earned throughout the your life. Nor do they calculate how your pia should be calculated based on your actual earnings. They just zap you for a set amount up to half your pension. It's plunged people into poverty who worked hard and didn't necessarily make a lot of money.
@@kathleenralston2192 - If your earnings as a gmvt worker gave you an avg monthly earnings over $1200 (about $15K annually) then you would get a replacement rate of 32% in the private sector, Note that as a public (non FICA) worker, you get 40%, a bit more than the the regular folks. But you feel cheated and want 90%. And don'[t forget you got to pocket the 6% that the normal folks had to fork over to SS.
WEP affects me as well!
Thanks for sharing, I will post more videos on this topic in the future.
I worked for the US Postal Service for 10 years and paid into Social Security. I then went to work a civil service job for 24.5 years and did not pay into S.S.. During my 24 year C.S. job I also worked part-time paying into S.S.. I retired from the C.S. job and started collecting my pension and went back to work part-time. I understand why W.E.P was created but it is unfair to those of us that have paid into S.S. throughout working lives in addition to C.S. / Govt jobs.
It should be for all Americans who are one ssa benefits
Exactly
How will the GPO apply to a military/veteran pension?
Military pensions are exempt.
@@TheTECShow - Because the military pays FICA. The problem is CHEAP states that do not pay FICA.
How much will be the reduction of my SS pension which amount to $ 700 if my government pension is equal to 4000.?
They used the word "REASNABLE" They should be fined themselfs if they think 400 bucks a month is even close to being reasonable.
will wep still be used if a person worked for 32 years paying ssi then started a civil service job for 28 years
#WOW😮😮
Hey Bro and Family😂
What's up?
Not much just trying to get over a Multiplesclerosis relapse! I know I can cuz I am a TRUE WARRIOR AND GOT THIS ONE WAY OR ANOTHER!🥰😜🙏🙏👍
I decided to begin taking my SS payments at full retirement age because of WEP. Currently, I still working for the state of Nevada as a licensed educator and will receive a pension. I worked in the private industry before I began working as an educator for the state of Nevada. I’ve been working for the State of NV for the last 26 years where I did not pay into Social Security.
I have enough months from working in NY where I paid into Social Security. But . . . Social Security will take most if not all of my Social Security benefits once I begin receiving my pension from the State of Nevada.
So . . . Currently, I’m receiving my full Social Security benefits while I am still working as a teacher and have not retired from the State of Nevada. I paid Social Security while working in New York. My point is . . . it’s unfair to penalize me for the time I worked in NY and paid into the system.
Currently, WEP will take All of my Social security because my pension will be more than half of my Social Security benefits.
Looks like I’m getting a deduction in my social Security even though I worked 21 years in jobs that did contribute to social security, I’m happy I receive a pension but that extra money would help.
With the current congress, is it reasonable or feasible that they could actually pass any meaningful laws?
Lets send DAVID to Congress
How can I join the petition but I do not have the capability to scan the barcode
chng.it/XzFjtL22sS. Here is the link.
I'm on SSI if getting another check
Thanks for the explanation. Maybe some of the haters will see this and realize how unfair the current system is to public sector workers.
When a normal person takes on a second/additional job, they get an SS replacement rate of 32%. Folks that earned non-covered pensions (with avg monthly earning about $1.2K) get 40% replacement rate, but you aren't satisfied making a bit more, you want to make 90% replacement on those earnings.
What happens if you pay both on that job??
If you have a gmvt job that you pay FICA (35 states do this, 15 do not. Or like the Military) your SS is not adjusted. It is really a CHEAP state issue, not an SS issue.
I hope you can tell me something when they going to help the poor people in Michigan that need it this b******* wait for all this is killing me I'm hurting all these medical bills I got to pay I don't have the money
According to the CBO 2022 report, the WEP and GPO would only deplete the combined funds by an extra six months.
The extra drain on the Trust Fund is a smoke screen. WEP & GPO are fair as they treat gmvt workers the same (actually gmvt workers get an edge over normal folks). I put the full detailed explanation in a post.
My widows benefits were totally taken away and I had 30 days to pay back $47,000 to social security for something that was their error! It took me 18 months to get them to stop sending my widows benefits! Phone calls, letters, emails and in person! Most are new employees and have no clue of what they are doing! The potter 2 people that retired from my district in the same day ALSO had to pay back money! THE SYSTEM IS ANOTHER GOVERNMENT ENTITY THAT HAS NO IDEA HOW TO MANAGE OUR MONEY!
1st
I truly gave up hope for the government. Helping us on fixed in comes at all. They keep saying they're gonna do it and don't family song.
SSI NEEDS REFORMED AND BROUGHT UP AND OVER THE POVERTY LEAVEL
Pay the money to people that earned it, forget about trust fund,it'd not there money anyway
I too fall under WEP and I met the requirements of 40 quarters or 10 years in the private sector. The Ponzi scheme is running out of money because the way it’s managed by the federal government. If any of us ran a Ponzi scheme like this we’d be in jail but, the government can run a Ponzi scheme and it’s ok.
I understand how WEP works and believe it is fair, but I absolutely agree that SS is a Ponzi scheme. It is a flawed system that was doomed to fail. But also realize it can only pay out what was taken in and because of the design, there is no actual growth. The solution is to stick the younger generation with the bill (higher taxes and delayed eligibility) but not actually share the pain with the folks that let the issue continue - US! Do you recall any protests to increase SS taxes when we were younger and contributing?
There is the stick the rich with the problem (raise the max) but this will cause the program to be Welfare, as it will take from one group and give to another.
It has been my thought for quite some time that each birthyear should have its own trust fund (it is only accounting) but that way there would be growth to cover the future retirees. The problem is how to transition.
Good video- I was a teacher for a 2nd career. I paid 40 quarters of SS before that. The only other thing you might mention is the substantial earnings table that shows what you have to make for SS to be counted and if you work for a government agency (I work for a state university) for 5 years - I pay into the pension and SS. This is supposed to allow me to waive GPO and qualify for spousal benefits.
I started working in a school system following the death of my wife. We had two young children, working school hours saved our life’s. I’m seventy now, I don’t have enough time in to retire with a full pension. The result is a 60% reduction in my social security. How is that right!
The max adjustment is 50%.
Something Good is about to happen for Us in Jesus Christ Name Amen. $$$$$$$
better late than never...!!
What about people why never worked getting $943
JUST BEFORE YOU RETIRE FILE SSDI NOT SSA AND TRY TO GET FULL BENEFITS IF FOUND TO BE DISABLE
Who said life has to be fare
The exact same scenario that you are showing happened to me. After 31 years in the fire department I retired at age 55. During those years I occasionaly worked parttime on the side and contributed to Social Security. At age 62 I applied for social security benefits and calculated that I was going to receive a benefit of $850 per month. To my surprise Social Security informed me that I was going to receive only $425 per month. Upon looking into it I was told that my benefit was going to be reduced because of WEP (Windfall Elimination Act). I had never heard of WEP and how it would negatively reduce my monthly benefit. So, over the last 12 years I figure that I have lost at least a minimum $62,000 to WEP. I am hoping that either the "Social Security 2100 Act" or the "Social Security Fairness Act" will be enacted soon and restore the full benefit that I rigthfully earned.
Wow that is cray @rrod. Thanks for sharing your story, you are the main reason I am doing more research on the topic. It will impact me too when I reach the age to collect ss if nothing is done.
I researched the proposed legislation and it would not be retroactive.
I thought they were considering eliminating the Windfall Elimination Act.
O
These shows are like opiates for the poor person. We never see shite.
There is one more about his money not thanking about us just talking again
Bla, bla Dreams
TEC Readers and Members:
Let us write President Biden and all Congressmen and Senators from Democrat Party that if they do not pass Social Security 2100 bill Into a LAW by September 2024 70,000.000 social security recipients will vote for Republican candidates in the November 2024 elections.
Why?....You voted Democrat last election and now your SS does not keep up with the 70% inflation the last 3 years that you voted for,,,,,,,,,,,,,,,,,,,,,,
DUDE MOST OF US DONT HAVE A PENSION SO HOW IS THIS GONNA HELP US BUT IF YOU HAVE SSDI YOU DON'T GET PENALIZE ANYTHING YOU GET FULL PENSION AND SSA
@@powerhouse4450 WRONG YES THEY CAN
Only President Biden and a Democratic Congress and Senate can Save and Expand Social Security, vote Blue up and down all Ballots for this to happen!!! 💙 💙 💙
They have been proposing fixing this for decades and nothing happens. That's on the Dems and the Republicans, but mostly the Dems. Biden will do nothing. It's just being dangled again right now to get votes. Please don't fall for it. Vote for whomever you want, but don't choose based on these empty promises and lies. Consider the overall picture and what will likely be best for you. Vote Biden, vote Trump, vote RFK, or whoever you want. But please vote with your head and not emotions.
Hmm...70% inflation the past 3.5years and you think your Prez is going to help.....lol
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