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Into 8 minutes of your discussion and you had yet clarified that individuals that are covered under WEP/GPO could still be entitled to a full social security if they infect met 40 quarters of earnings in addition to their vocation providing a pension. As an example I retired as a firefighter with a state pension. I worked before that job, during and after contributing to my Social Security along the way. Whereas before the Social Security Fairness Act I would have only gotten 30% of what I would have been entitled to. Effectively being penalized for the other work I did outside the fire service. Please explain that people in my situation are not double-dipping. But worked hard and contributed to their social security like everybody else . Thank you.
I understand, as I am in the same situation. I am a retired public school teacher, and our school pension is self-funded. We aren’t getting something for nothing. Good luck to you. 😊
@@rquinsey1 I am in the same situation where I have paid in to two retirement funds, and only received 1/3 of Social Security when I should have gotten a full Social Security because I paid a full Social Security in.
@@dcp1960, how do you figure you paid into it as a teacher? I was a nurse for 30 years. I paid into SS. I was also self-employed at one time as a nurse, and paid double ss. I'm sorry you are getting a pension that doesn't satisfy you, I'm not getting a pension. I had to go on disability and receive 1300. a month. I'm on medicare but not medicaid. My mortgage is 539.00 per month. That's over a third of my income, not to mention groceries, utilities, car insurance, life insurance, prescriptions and so on. Enjoy your income that I helped pay for.
What about the thousands, maybe millions, of working people who died before getting their SS checks? What does the Gov't do with their money? And the gov't rounds down my check instead of rounding up, what do they do with the change they keep? SS is not going to go bankrupt; they've been saying it, scaring people for years.
That's why the SS deduction is lower, most people don't live long after 65, in fact many don't make it at all, which reduces costs and increase benefits to those that do live longer. The reason for concern is that people are living longer and medical costs have risen faster than wages.
Social Security was first instituted by Otto von Bismarck in Germany in 1881. It's eligibility started at age 70, well above average life expectancy. When it was instituted in the US in the 1930's, the eligibility was set at age 65 which was about the average life expectancy. It has always been a benefit for fortunate survivors built on revenues from them and those who did not, or will not live long enough to receive them. Today's average life expectancy is in the upper 70's, and there are not enough workers paying in to sustain the program as it is. This new law will see SS unable to pay full benefits in 2034, instead of 2035. How about an early eligibility rise to 65, full benefit rise to 70, taxation on all earned income, and a new bend point with a 5% replacement?
@@charlesyoung7436 Are at lease remove the cap on paying into SSA. It is not logical to have a cap on FICA as most people never reach it and the ones that do can afford the continued payment into SSA. This should help the SSA stay solvent. The news reported that just Elon Musk along could keep SSA running for the next 75 years.
I receive survivor benefits. My benefits are penalized because I worked 6 of my 35 working years for a school district. He was killed at age 60 in a work accident. He never collected any of his own benefits, yet they deduct on his benefit numbers. Where is that money going that they withhold??? I’m glad they passed the act. Yes, I will get one year retroactively, but where is the money for the other nine years? Where the hell did that go?
Thanks for explaining this matter in layman's terms. Since my wife had 5 years of non SS payment Public job, but did have 30 years paying in with private and the rest public, we realize that she is eliminated from wep. So the way I understand the future is reduced SS. Payments in about 7 or 8 years. It's sad that we seniors will have to tap into our savings to make ends meet. 😢😢😢
Excelente presentación: Es muy importante aprender acerca del funcionamiento del SS. Pero considero que los beneficios debe ser aumentado en el SS. Los trabajadores meremos lo mejor en los años que no podemos trabajar. Darío Mendoza (USA).
This is wrong , it’s not only people that didn’t pay into social security and also had retirement through PERS. I worked a government job as a mechanic and received PERS. But I also worked a part time job for many years and payed into social security. When I retired social security tells me how much they will give me and sends it. Then a couple years into both PERS and social security, SS sends me notice I am only eligible for half due to WEP. Then they force me to pay back what they say they over paid due to WEP. So for about two years I got nothing from SS. I tried to fight this but got nowhere with them. Social security is a crooked organization that does not monitor itself or correct itself when shown they are wrong
It's the normal Joe as always to take the hit! I started SS in 2019. Once on SS because I retired early as I was fighting cancer because of my military years. Now they are taking it back k. Think, they don't pay increases on inflation. We eat it, This is how the government gambles. They don't want you living . They want you dead so they make money off your contribution to SS. What I would like to know is when is the government going to repay all the loans they took from SS ? They continually take money from SS for other programs and that should be illegal! IT'S OUR MONEY!!
When you filed your application for social security, you would have needed to mail in your current pers income. They only require you to mail this in once. If you didn't inform social security of your monthly pers gross amount they will come back on you to get the money that was over paid. That doesn't mean they are crooked. It could mean you didn't provide the proper documentation and you would not be able to fight it. Hope this clears it up for you.
@user: which state is your PERS? If the employer you work for pays into SSA and you also pay into it, why should you be penalized by SSA? That makes no sense. What crooked politician thought up this scheme?
What about the rest of the Social Security recipients who have trouble putting food on table but don’t qualify for extended benefits because they make $20 over the budget. What a scam.
Everyone is having problems paying bills and putting food on the table. This is money that was stolen from these people. Did the government steal your SSA or SSI and SSD? There are still many fights needed to increase SS.
Did you work at 2 jobs one that didn't take out and one that did if not you have nothing to complain about its not any of your money so why would everyone else get it
I worked and contributed to SSA and worked a second job and received a pension…my SSA benefits was reduced to $500….from my original benefit of $1500. !!! From WEP. I worked and EARNED my benefit and I DESERVE all of it !!!!!!!
I put into Social Security for 19 years, 23 into my pension fund. I retired at 70 to babysit my granddaughter. For 18 months I received my just SS. Then they said they had overpaid me because of the Windfall act. They then deducted $413 from my SS and an additional $100 for the overpayment; to be paid monthly until $9600 is paid off. So my SS was cut by $513 per month. This would be a large cut for anyone. My total retirement income including my pension went from $2k to $1500 per month. This has been extremely difficult to live on. I worked as a teacher assistant. I certainly hope I get the $413 back but also I hope I don’t have to pay back the $9600 back. I’ve been trying to figure out because I might have to pay for some months in 2023 when the law wasn’t in effect.
Paid into soc sec for 42 years for second and 3rd and part time jobs. I have paid into soc sec for 19 years at substantial earnings. Just because I paid into my job at the post office and it was a non soc sec . I still paid my required amounts to soc sec and pension. Why should I not get both? If you have a retirement fund you've paid in and your boss matched...number 1 you are lucky for the matching...but would you want to soc sec take half your money?
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It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $1,000,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Marvin did great on video. It’s a very complicated thing. Each SS recipient affected by WEP will be different…some more some less. Hopefully they will calculate the part time jobs we had that deducted for SS. It had little to no affect on our annuity.
Nobody is getting an increase in benefits. People who have been penalized for having a second pension plan that they have contributed to in leu of SS are no longer being penalized.
I do not not understand why those who did not pay into social security while working their jobs for years should receive any social security monies now!
Some of us paid into Social Security for 40 quarters qualifying for it and then went to a Pension paying job and then get a reduced Social Security payment.
@barbaraadams8219 this only applies to those who qualify for SS by working their quarters. This isn’t free money and it only applies to those who qualify for SS, they paid into the system. It doesn’t affect you in anyway. Which is why lots of folks don’t understand it. And if you didn’t ever work a govt job then it doesn’t pertain to you/them. It’s a need to know basis. They’ve been unfairly stealing folks money (SS) for 40 years.
The people who are eligible for this did pay 40 hours required ad well as working another job with a pension. If you don't pay into the fund of course you can't draw it but they did pay into it.
@ Earn enough work credits You need at least 40 work credits, which is equivalent to 10 years of work. You earn credits by working and paying Social Security. If they worked 20 years into a civil job that did not pay into SS, then worked another job for 10 years in a job contributing to FICA ,they would qualify for 10 years of SS benefits. Still wrapping my mind around this.
Can you believe, careers, not high paying involved in this Fairness Act. What a smack in the face,when you need it the most. The government had no idea the impact of this Fairness Act. Every story different but similar, specially for surviving spouse. Not are you grieving but find yourself in a financial mess,when at the time you retire. Specialy if you have medical issues!
I’m retired Postal worker and I sure appreciate your commentary. I think I understand and I’m looking forward to the increase in my Social Security check because it is very very small at this point. Thank you again for breaking it down for us to understand a little bit better.
I have been thinking about going to the social security office to find out when we are going to get this and to make sure I am eligible. My husband should be too. We both worked for the school. If I do, I will share with you all.
How does this now deplete the SS treasury fund for the rest of us? Will this mean SS will be dissolved earlier! I think those who make over $176100 should still pay into SS. Am I thinking correctly?
This will push up Social Security's insolvency by about six months. SS won't go away, but everyone is going to see their monthly benefit reduced by 20-30% Yes, the easiest solution is to "simply" eliminate the FICA cap. I put simply in quotes because it won't be easy to do. The wealthiest people, who basically control our politicians, won't allow it to happen.
Yes you are correct. Instead of middle income people fighting with each other the rich and upper middle class should contribute more. The amount they contribute is capped at a certain amount.
I'm in that situation. What people don't understand is that SSA only calculates your benefits based on COVERED wages where we fully paid ss taxes. Then they reduce our benefits that we fully paid for by almost 70% due to WEP (in my case) We also paid for our civil pension. So we paid into both systems. (nothing is free) SSA only adds the covered wages but when they calculate the average they divide them by all the years including the ones with zero income because ss taxes were not deducted in those years. This further penalizes us. So let's say a public employee paid ss taxes for 20 years...then he worked for 15 years for a gov. agency that was not in the SS system. SSA adds ONLY the wages he earned in the 20 years where ss was paid...then to calculate the average they divide the total of those wages by the total number of years (20+15) --> 35 years. Then they apply WEP formula which drastically reduces our benefits. IMO...WEP and GPO legalized the stealing of our ss benefits! Due to WEP provision, I probably lost $100K + over a decade since I retired.
I am more confused now and do not understand anything you said. WEP and GPO explained at the same time just makes me not understanding if I anything on the windfall.
QuiltingMama, I couldn't understand what this guy was saying either too confusing. But I just saw a video on youtube by Senator John Kennedy and he explained it so well in laymans terms, is easy to understand. Well, now I know I'm not getting any of this increased. I will call the soc sec office anyway to see if I qualify.
We aren't getting anything free with the passing of the Fairness Act.Due to my government pension when my husband died ,age 52, I could never get a penny surviving spouse benefits! Now since the passing of the Fairness Act, after 13 years will get my husbands spouse benefits. Will this be a great help,from my deceased husbands benefits! I can get car and house repairs done,pay ultitilitys in full. Pay off credit cards. Really interest killing me, but nessary for emergencies!
I worked 35 yrs and my husband worked 44 yrs. There is a reason why we get more than my sister and her husband. She worked 20 and her husband worked 10. I paid into what I get.
I worked for 26 years and paid in social security then i worked for school system as a custodian when I retired they took all my of my social security then got spousal support of 500 dollars then they turn around and took most of that I got after they took out for medicare i did n get much my retirement check is 850 barley make it thank God my for my husband who worked for 44 years God is good
Write your Congress people. Federal workers are being denigrated, lied about, scapegoated and attacked. They are trying to get them to quit. WHO WILL PROCESS YOUR CHECKS???????
Just because someone makes 6 figures doesn’t mean they are rich. Years of trying to maintain a business and the costs, expenses and taxes. Benefits paid for should not be taxed and the “penalty minded” provisions should be changed.
Yes, but I bet they aren't eating dog food, either. People really do that. I've done it before for a short time. Not my first choice but hey it kept me alive.
I took my retirement at 65 And I continued working out of 4 or 5 years I worked in a state hospital no social security tax taken out when I left that employment for a job that took out social security tax so am I eligible to get back for those 5 years at A state job?
@@carolharris3977 I don't understand the question "get back those 5 years at a state job". Did you pay into the SSA after you left the job at the hospital enough to earn at least 40 quarters? Did you work at the state hospital long enought to qualify for their hospital pension? If the answer to both is yes then you probably qualify, if the answer is no on both questions then you would not be affected by the WEP & GPO or its elimination.
@carolharris3977 all anyone needs to do is create an account at ssa.gov it will show if you’re entitled to receive SS period. You have to have all your quarters in.
Most people that retire at full retirement age die within 20 Yrs of retirement. I retired at 62 Yrs old and took a hit on my benifits I am now 73Yrs old and choose when I want to work. The stress of the job VA hospital nurse drove me out
So would a six yr navy vet engineer who went to feds dept of energy and retired after 30 years be affected?. He’s a full time disabled vet due to radiation ☢️ and prostate cancer now. Thanks
When talking about having 30 years and its effect on WEB how does qualified earnings play into the amount. Now that you have done a good job explaining this situation, the only variable left is trying to understand how qualified earnings impact me. I think I have 26 years of qualified earnings and 4 years that I did not meet the amount required. Thanks.
Sadly, HR82 removed the requirement of YOCs. Now to receive the 90% adjustment, you only need 40 work credits. So calculate your AIME & PIA then that's your estimated monthly benefit payment
Without all of your data, do this; Add up only the highest 35 years of income, then divide that amount by 420. That's your AIME. Now use these 3 calculations to get your PIA/ monthly benefit amount a) 90% x the first $1,226.00 of your AIME b) 32% x from $1,226.00 up to $7,391.00 of your AIME c) 15% x over $7,391.00 of your AIME
I worked in Canada for ~13 years before moving to the US and becoming a US citizen. During my work history in Canada, I did not pay into the US Social Security Security system, but did pay into the Canadian SS system. After moving to the USA, I worked for 23-years in the US and paid into the US Social Security. So my question is, when I calculate my AIME (Average Indexed Monthly Income) do I divide my "Total Taxed SS Earnings" which spans 23-years by 23*12=276 months, or do I still use the 35*12=420 months even though I did not work the full 35 years in the US? Note: Not sure if this is relavent to my question or not, but the US and Canada do have a Tax Treaty Agreement designed to prevent double taxation for Canadian residents with US income and US citizens working and living in Canada.
It depends on a few things here is a video we did about this that can help your scenario: ua-cam.com/video/s1QlWaWhr70/v-deo.html If you have any questions you can call us at 800-864-8890.
Your payments will not stop, if you are making over the earning test limit they will just penalize your SS check. For every $2 you earn about the $23,400 amount, they will penalize your SS check $1. So you'd still be getting a check, but it would be reduced.
I am totally confused. I receive spousal social security and my husband's pension from state prison. Am I going to lose money, receive more money or nothing will change?
Pls clarify “what you need to do”. Remember if you already receiving SS and it’s direct deposit and you have been receiving it, then your bank acct and current address is correct. Yes it’s important to have an account set up which most ppl already do.
What about people that started out on SSDI Disability? In 1980 I went on SSDI Disability. I’m on Retirement now so will I get a raise at all? I was born in 1951 so will I get anything at all? I paid in at least 11 years so will I get anything at all?
Hears a good one for you. I worked 47 years for the post office and retired about 5 years ago, but I also worked and paid into SS before I worked for the GOV., and I worked a second job while I was working for the post office. I paid all of my 40 Quarters into SS. Now SS said they have overpaid me by $10,000. They took all of my SS away, and now I have to pay for my Medicare, which is $524.10 every 3 Months. I am still not receiving any SS.
@@jamesgranquist2791 SS told me they overpaid me $9600 which they were deducting $100 a month and my SS was cut $413 by the Windfall act so $513 less than I had been receiving for 18 months. Whenever they get around to making this right they will be paying us for all of 2024 and any months in 2025 that we are not paid the correct amount. So maybe 2k to still pay back for me since some of my months were in 2023 before the law took effect. I did ask for a waiver for the $9600 since it was ‘no fault of my own’, ha as if I was sending money to myself and picking the amount but they did not respond to that and gave me a payment plan. I would ask them for a payment plan if you can reach anyone since it is incomprehensible to think they should take all your SS. Good luck to all of us.
@@jamesgranquist2791 apply again. You will receive it now. I have worked over 50 years and will just now get my full benefits. I am excited. And people who make over 100,000 a year who have worked very hard to do so have earned their own money. They should not be punished because we all have different amounts of income.
That’s just great. The people that probably will get maximum benefits anyway are going to get a big boost while everyone else is pinching pennies trying to buy groceries and get their medicine. Where is the fairness
Well, they didn't use my top 35 years they used my last 35 years. Had they used the top 35 years I would be drawing $2500 per month because of the job I was working at befor I started working for the government. They, Social Security, used the last 35 years that I worked and I worked for the government from October until May the following year. So I worked 7 months out of the year. Needless to say instead of the 2500 a month, I only draw $1130 a month.
Because the rich protect the rich. Politicians are bought out by the rich to keep them from paying taxes. Only the middle class suffer and pays for everyone. This is what Bernie Sanders has been trying to change for a long time now. If the rich paid there share of SS taxes we wouldn't be in a bind when they said SS is going to run out of money sometime around 2035.
Social security is only meant to be a supplement to your earnings and savings. It is not meant to be your living income . Why don't you know that ? The fairness act does not come close to correcting the loss many of these people were subjected to. Many years retired at a reduced rate they will never get back. Only those that qualified for social security will get this correction.
They keep saying that, but with that logic, there should never have been the WEP & GPO in the first place. Your pension is one leg of the three legged stool and SSA is another, the third leg is your savings and investments. The WEP & GPO removed or reduced the size of one leg of that stool. So telling you tht SSA was never meant to be your total retirement income and then taking your SSA benefit away or reducing it because someone thinks you are getting too much money each month is dead wrong.
@darrellflowers6298 its just a different situation. Nothing to do with the fairness act. SS benefits have never been enough for someone that life crapped on. It stinks, life is not fair. Where is the family for these people ? Where are the charity organizations?
What are you talking about? Those on SS, SSI, and SSDI have received a 24% pay raise just since 2022. We're barely out of 2024. People who are still in the workforce didn't get a 24% pay raise over this same time period.
Except in the case of the Windfall Act, in that case people that received money unfairly, from government employees who had payed into the system but didn't get those funds back. Pretty much like stealing.
Maybe this will help some people who are in my situation. It wasn't covered in your talk. My wife was receiving $700+ in disability per month, and had been since the early 70's. She died in 2013. I went to social security, and they told me I would get no survivor benefits because I was retired Postal Service, and receiving a government pension. Where do I fall in all of this?
What about people that work in public jobs like county and city govt. I worked 18 yrs miami-dade water & sewer authority and 15 yrs with the city of Brooksville and I was paying into social security and also into the state of florida pension. Will I be getting a increased under this newly signed social security fairness act?
I have a question my father passed away in 1974 from cancer due to work my father paid in to his pension as well as Southern Pacific railroad long story short mother was totally disabled before my dad died but they didn't care she was denied disability and denied my father's pension I wish more people would speak on this, how many other families suffered how many are still suffering my mother only asked that my father paid in from his own check the money he earned never asked for anything that the company paid
This SS Act is for people who receive a government pension. It makes u in t so a person on a government pension get their full SS when at the retirement age, not just a small percentage of it. In other words, I’ll be getting my full amount of $1600/m upon retirement that I paid into instead of the $200/m cause I’m receiving state pension.
If your benefits were affected by WEP, that was because your state pension paid 0 $$ contributions, not just Medicare contributions. WEP wasn't perfect but it is a known business calculation. So; 1 yr=1buck & a non-covered pension=NCP. 10 bucks from 1 job & -5 bucks from an NCP is 10+(-5)=5 benefits 10 bucks from 1 job & 0 bucks from NO other job is 10+0=10 benefits
To all affected by WEP/GPO please write to the SSA to voice your displeasure with the update stating that it will take 1 year or more to update and send out the monthly SS checks and up to 2 years to send out the retroactive payment. This is simply the SSA Commissioner playing politics for more funding and manpower at the expense of public employee retirees. I also ask that you contact your House Representative and Senators to hold the SSA Commissioner's feet to the fire in sending out our adjusted monthly SS checks and retroactive check in a timely manner.
Very detailed video and excellent explanation. Are the bend points establish for a person the year they begin taking SS Benefits or are they the year you turn 62 ?
My husband worked for the VA between 1980 and 1984. He didn't pay into SS because the VA had their own system. Would he be affected? Thanks for your info! Good video.
Great video. I have a question. I was taking my SS and Widows SS. When I retired from the state SS took 2/3 of my state retirement off of my SS monthly amount. Should I assume that is the amount I will get back once they figure it out? I was getting the SS benefits for two years until I retired from the state SS.
I watched your video and I immediately subscribed because you are the only creator on this subject that I've listened to that mentioned Postal workers subjected to the WEP. I happen to be one of them. The only criticism i have is that you mention 30 years of income that paid SS and not being affected by WEP. Those 30 years of income have to be SUBSTANTIEL earnings. Other than that I like your channel. You are very straight forward and easy to understand. I lplan on watching more of your videos in the future.
Hopefully by passing the Fairness Act, opens the door to reform Social Security system for all others in the system and their financial situation improves!
Social Security uses a 35 year work history. If you worked less then you get zeros added for those years. Some state pensions calculate based upon high 5 years and numbers of years worked with a multiplier based upon age.
I worked at a school as a custodian for 13 years and when I retired, the WEP took a large amount away from my SS. I paid into SERS and receive a Pension. My SS was reduced. I have my 40 quarters in the public sector and worked 13 years in the school (government) sector. WIll I get more in my SS now that WEP has been repealed?
Could the top 35 years be less that the 35 years? I have my 40 quarters of SS work and get $400.00 a month SS but arrived at it in less that 35 years. I do have 39 years under CSRS and a pension from that as well as a military pension from active duty as well as reserve time. Am I impacted by WEP?
They need to focus on people on Social Security that struggle more to anybody that has a job or used to work cuz people like us can't have things like people that have jobs that make them have more money
Social security is an insurance program that replaces lost earnings. When enacted the taxes were 3% and maximum earnings were $ 3,ooo. Quarters of coverage $50 a quarter 4 qc $200. $200 year
I am retired Fed worker in the CSRS category. I'm still subject to WEP/GPO as my 1/15/25 SSA check showed a $14 increase over my monthly payment which is 40% of my actual benefit. I can see how it should be easy for SSA to give us our full amount since my reduced monthly is based off that amount. What concerns me is how will SSA pay the GPO portion based off the amount my deceased spouse earned. She passed almost 12 years ago. How do they link her identity to me so that I receive a portion of her benefits that's more than double of my SSA benefit? I'm guessing that you'll be required to present your 'evidence' to them. It won't be automatic. Glad I saved all my wife's papers including SSA. Having been in government I saw the morass of red tape and slow walking, BUT, I also saw examples of how things can move swiftly within a day's time when it's beneficial to them.
I guess you simply make an appointment at a Social Security office, Show that you were married to her with her SSA number and the rest will be automatic.
When an individual continues to work after full retirement but takes at FRA, does the Primary insurance amount increase with new years to replace some of the past years not at good?
Once you've collected benefits, they are no longer considering the new income to change the amount you receive. You are locked in at that amount you received unless it's due to COLA increases.
@ Your highest 35 years of income, divided by 420 is your AIME. So sorry, yes, If you worked beyond your FRA it could raise your benefit if it added 1 more higher year of income. But they will still ONLY use 35 highest income years
If you are not taking social security, new years of work can replace lower income years in the calculation. (I am doing that now, and watching my projected benefit increase.) My understanding is that the benefit calculation is locked at the point you start taking social security, or age 70, whichever comes first, even if you keep working.
Wow... didn't pay in, but somehow, getting retro payments because they should have paid in? What about those who should have been paid max earnings but somehow didn't?
no one is getting paid that didnt pay in. Just because they didnt pay in as a fireman, policeman etc doesnt mean they didnt pay in with another job. If you have 0 quarters SS you get 0$
I worked until I was 72years old. So I would make enough SSI benefits to live on, And now people that retired at 67years old gets a increase in SS payments and I don't. And that's kinda dirty because they tell me I make to much money to get more money.
The RONALD WILSON REAGAN ACT.😮people who pay fica and into a retirement fund only receive one-third of the social security they are entitled to. CORRECT?
He signed it, but Democrats controlled the House. Tip O'Neil was the Speaker of the House. So lay all the blame on Reagan if it makes you feel better, but Democrats in the House passed the law and sent it to him to sign. The actual blame should be directed at BOTH parties.
I need help paying for rent it keeps going up and takes up most of my SS. I don’t mind going back to work part time but I will have to pay back everything. Why since I paid into it when I worked all my life?
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I worked over 35 years in the public school system and I hope I get an increase in my SS monthly payments. That would be a blessing.
You can verify with SS.
Into 8 minutes of your discussion and you had yet clarified that individuals that are covered under WEP/GPO could still be entitled to a full social security if they infect met 40 quarters of earnings in addition to their vocation providing a pension. As an example I retired as a firefighter with a state pension. I worked before that job, during and after contributing to my Social Security along the way. Whereas before the Social Security Fairness Act I would have only gotten 30% of what I would have been entitled to. Effectively being penalized for the other work I did outside the fire service. Please explain that people in my situation are not double-dipping. But worked hard and contributed to their social security like everybody else . Thank you.
I understand, as I am in the same situation. I am a retired public school teacher, and our school pension is self-funded. We aren’t getting something for nothing. Good luck to you. 😊
I get SS it’s so low that I don’t pay taxes! I get widows SS ! Will I get a rise ?
@@rquinsey1 I am in the same situation where I have paid in to two retirement funds, and only received 1/3 of Social Security when I should have gotten a full Social Security because I paid a full Social Security in.
I taught for 17 years. I did a few other jobs. Will I get it?
@@dcp1960, how do you figure you paid into it as a teacher? I was a nurse for 30 years. I paid into SS. I was also self-employed at one time as a nurse, and paid double ss. I'm sorry you are getting a pension that doesn't satisfy you, I'm not getting a pension. I had to go on disability and receive 1300. a month. I'm on medicare but not medicaid. My mortgage is 539.00 per month. That's over a third of my income, not to mention groceries, utilities, car insurance, life insurance, prescriptions and so on. Enjoy your income that I helped pay for.
All people that get less than the poverty level should be brought up to that level.
Totally agreed!!!
What about the thousands, maybe millions, of working people who died before getting their SS checks? What does the Gov't do with their money? And the gov't rounds down my check instead of rounding up, what do they do with the change they keep? SS is not going to go bankrupt; they've been saying it, scaring people for years.
That is how annuitization works...?
That's why the SS deduction is lower, most people don't live long after 65, in fact many don't make it at all, which reduces costs and increase benefits to those that do live longer. The reason for concern is that people are living longer and medical costs have risen faster than wages.
Social Security was first instituted by Otto von Bismarck in Germany in 1881. It's eligibility started at age 70, well above average life expectancy. When it was instituted in the US in the 1930's, the eligibility was set at age 65 which was about the average life expectancy. It has always been a benefit for fortunate survivors built on revenues from them and those who did not, or will not live long enough to receive them. Today's average life expectancy is in the upper 70's, and there are not enough workers paying in to sustain the program as it is. This new law will see SS unable to pay full benefits in 2034, instead of 2035. How about an early eligibility rise to 65, full benefit rise to 70, taxation on all earned income, and a new bend point with a 5% replacement?
Obama gave that to Iran...
@@charlesyoung7436 Are at lease remove the cap on paying into SSA. It is not logical to have a cap on FICA as most people never reach it and the ones that do can afford the continued payment into SSA. This should help the SSA stay solvent. The news reported that just Elon Musk along could keep SSA running for the next 75 years.
I receive survivor benefits. My benefits are penalized because I worked 6 of my 35 working years for a school district. He was killed at age 60 in a work accident. He never collected any of his own benefits, yet they deduct on his benefit numbers. Where is that money going that they withhold??? I’m glad they passed the act. Yes, I will get one year retroactively, but where is the money for the other nine years? Where the hell did that go?
Thanks for explaining this matter in layman's terms. Since my wife had 5 years of non SS payment Public job, but did have 30 years paying in with private and the rest public, we realize that she is eliminated from wep. So the way I understand the future is reduced SS. Payments in about 7 or 8 years. It's sad that we seniors will have to tap into our savings to make ends meet. 😢😢😢
So what about if you didn't work for the government not right
@@billspaid9 what savings?
That's ok I've been trying for 3yrs and still haven't got mine
If you're receiving 1200. A month for nothing but SS you should automatically get this additional increase, no question asked!!!
Excelente presentación: Es muy importante aprender acerca del funcionamiento del SS. Pero considero que los beneficios debe
ser aumentado en el SS. Los trabajadores meremos lo mejor en los años que no podemos trabajar. Darío Mendoza (USA).
This is wrong , it’s not only people that didn’t pay into social security and also had retirement through PERS. I worked a government job as a mechanic and received PERS. But I also worked a part time job for many years and payed into social security. When I retired social security tells me how much they will give me and sends it. Then a couple years into both PERS and social security, SS sends me notice I am only eligible for half due to WEP. Then they force me to pay back what they say they over paid due to WEP. So for about two years I got nothing from SS. I tried to fight this but got nowhere with them. Social security is a crooked organization that does not monitor itself or correct itself when shown they are wrong
It's the normal Joe as always to take the hit! I started SS in 2019. Once on SS because I retired early as I was fighting cancer because of my military years. Now they are taking it back k. Think, they don't pay increases on inflation. We eat it, This is how the government gambles. They don't want you living . They want you dead so they make money off your contribution to SS. What I would like to know is when is the government going to repay all the loans they took from SS ? They continually take money from SS for other programs and that should be illegal! IT'S OUR MONEY!!
When you filed your application for social security, you would have needed to mail in your current pers income. They only require you to mail this in once. If you didn't inform social security of your monthly pers gross amount they will come back on you to get the money that was over paid. That doesn't mean they are crooked. It could mean you didn't provide the proper documentation and you would not be able to fight it. Hope this clears it up for you.
@user: which state is your PERS?
If the employer you work for pays into SSA and you also pay into it, why should you be penalized by SSA? That makes no sense. What crooked politician thought up this scheme?
@@ankhpom9296 Ronald Reagan
What about the rest of the Social Security recipients who have trouble putting food on table but don’t qualify for extended benefits because they make $20 over the budget. What a scam.
Everyone is having problems paying bills and putting food on the table. This is money that was stolen from these people. Did the government steal your SSA or SSI and SSD? There are still many fights needed to increase SS.
Did you work at 2 jobs one that didn't take out and one that did if not you have nothing to complain about its not any of your money so why would everyone else get it
I worked and contributed to SSA and worked a second job and received a pension…my SSA benefits was reduced to $500….from my original benefit of $1500. !!! From WEP. I worked and EARNED my benefit and I DESERVE all of it !!!!!!!
I put into Social Security for 19 years, 23 into my pension fund. I retired at 70 to babysit my granddaughter. For 18 months I received my just SS. Then they said they had overpaid me because of the Windfall act. They then deducted $413 from my SS and an additional $100 for the overpayment; to be paid monthly until $9600 is paid off. So my SS was cut by $513 per month. This would be a large cut for anyone. My total retirement income including my pension went from $2k to $1500 per month. This has been extremely difficult to live on. I worked as a teacher assistant.
I certainly hope I get the $413 back but also I hope I don’t have to pay back the $9600 back. I’ve been trying to figure out because I might have to pay for some months in 2023 when the law wasn’t in effect.
Paid into soc sec for 42 years for second and 3rd and part time jobs. I have paid into soc sec for 19 years at substantial earnings. Just because I paid into my job at the post office and it was a non soc sec . I still paid my required amounts to soc sec and pension. Why should I not get both? If you have a retirement fund you've paid in and your boss matched...number 1 you are lucky for the matching...but would you want to soc sec take half your money?
It’s critical for Medicare-eligible individuals to select optimal plans to reduce the likelihood that lack of coverage would prevent smart health care utilization choices, not only for their health outcomes, but also to help keep health care spending in check.
In my opinion, enrolling in medicare isn’t just a way to get health care coverage when you turn 65, it’s also a major part of ensuring financial security during retirement. Individuals can seek counsel from a certified financial advisor, who can provide specialized advice and methods to decrease expenses and maximize income.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $1,000,000 by investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Marvin did great on video. It’s a very complicated thing. Each SS recipient affected by WEP will be different…some more some less. Hopefully they will calculate the part time jobs we had that deducted for SS. It had little to no affect on our annuity.
Nobody is getting an increase in benefits. People who have been penalized for having a second pension plan that they have contributed to in leu of SS are no longer being penalized.
Good I am one of these ppl 849 and I felt 502;
I do not not understand why those who did not pay into social security while working their jobs for years should receive any social security monies now!
Some of us paid into Social Security for 40/4 qualifying for it and then went to a Pension page job and then get a reduced Social Security payment.
Some of us paid into Social Security for 40 quarters qualifying for it and then went to a Pension paying job and then get a reduced Social Security payment.
@barbaraadams8219 this only applies to those who qualify for SS by working their quarters. This isn’t free money and it only applies to those who qualify for SS, they paid into the system. It doesn’t affect you in anyway. Which is why lots of folks don’t understand it. And if you didn’t ever work a govt job then it doesn’t pertain to you/them. It’s a need to know basis. They’ve been unfairly stealing folks money (SS) for 40 years.
The people who are eligible for this did pay 40 hours required ad well as working another job with a pension. If you don't pay into the fund of course you can't draw it but they did pay into it.
@ Earn enough work credits
You need at least 40 work credits, which is equivalent to 10 years of work. You earn credits by working and paying Social Security. If they worked 20 years into a civil job that did not pay into SS, then worked another job for 10 years in a job contributing to FICA ,they would qualify for 10 years of SS benefits. Still wrapping my mind around this.
Can you believe, careers, not high paying involved in this Fairness Act.
What a smack in the face,when you need it the most. The government had no idea the impact of this Fairness Act. Every story different but similar, specially for surviving spouse. Not are you grieving but find yourself in a financial mess,when at the time you retire. Specialy if you have medical issues!
I’m retired Postal worker and I sure appreciate your commentary. I think I understand and I’m looking forward to the increase in my Social Security check because it is very very small at this point. Thank you again for breaking it down for us to understand a little bit better.
Best of luck!
I have been thinking about going to the social security office to find out when we are going to get this and to make sure I am eligible. My husband should be too. We both worked for the school. If I do, I will share with you all.
I worked over 35 years in the public school system…I hope I receive the increase in SS payments. That would be an unexpected blessing.
Marvin doing what he does best - making things easier to understand
That is what we are here for!
And we only are getting less than 48% of the SS we paid in.
I only get 964 a month SSI. My rent is 825. This is sad & we cant get help. We're the ones that need help
Help us.
We’re be paid back for money taken from us….we earned it…
Agree with you,this is so hard on us
Recieve only $4?? Dollars - what does the Fairness Act do for the disabled with few work houts?
You should have paid more into ss during your working years then you would received more
@gloriasnavely4198 did you not have enough quarters in of work to qualify for regular SS?
Social Security recipients have been receiving my benefits, I am glad I will finally get mine. It is my money in case others don't understand.
Thank you 😊
Thanks for not being political about this.
Exactly
How does this now deplete the SS treasury fund for the rest of us? Will this mean SS will be dissolved earlier! I think those who make over $176100 should still pay into SS. Am I thinking correctly?
Yes I do agree with u!!
Remember, figures don’t lie, but liars can figure!
This will push up Social Security's insolvency by about six months. SS won't go away, but everyone is going to see their monthly benefit reduced by 20-30% Yes, the easiest solution is to "simply" eliminate the FICA cap. I put simply in quotes because it won't be easy to do. The wealthiest people, who basically control our politicians, won't allow it to happen.
Yes you are correct. Instead of middle income people fighting with each other the rich and upper middle class should contribute more. The amount they contribute is capped at a certain amount.
I have heard it will have a 6 month effect. and SS will not be broke the benefits will just be reduced.
Outstanding Presentation! Only you and a few others have been able to clearly explain this to your audience. Well done!
Thank you kindly!
Congrats! Another confusing scam fron the irs!
Everyone should receive this, we have lived through hell the last 4 years
And going to live in sub hell the next 4 .It's already started
You will get it if your SS benefits have been reduced, otherwise there’s no reason for you to get the increase.
@@ChuckSem mine haven’t been reduced
That’s why you are not getting the increase. Only those whose benefits were unfairly reduced will get their benefits returned to them.
@ oh yes, well that’s good for them, we really don’t count in our SS much, we planned for a few decades fir retirement thank goodness
Awesome information and very beneficial to know, but the wait is over at 18:37
I'm in that situation. What people don't understand is that SSA only calculates your benefits based on COVERED wages where we fully paid ss taxes. Then they reduce our benefits that we fully paid for by almost 70% due to WEP (in my case) We also paid for our civil pension. So we paid into both systems. (nothing is free) SSA only adds the covered wages but when they calculate the average they divide them by all the years including the ones with zero income because ss taxes were not deducted in those years. This further penalizes us. So let's say a public employee paid ss taxes for 20 years...then he worked for 15 years for a gov. agency that was not in the SS system. SSA adds ONLY the wages he earned in the 20 years where ss was paid...then to calculate the average they divide the total of those wages by the total number of years (20+15) --> 35 years. Then they apply WEP formula which drastically reduces our benefits. IMO...WEP and GPO legalized the stealing of our ss benefits! Due to WEP provision, I probably lost $100K + over a decade since I retired.
Excellent job explaining a complicated system. Seems that there could have been a more stream line approach.
Glad it was helpful!
You stated that so politely!
I am more confused now and do not understand anything you said. WEP and GPO explained at the same time just makes me not understanding if I anything on the windfall.
You can verify with SS if you qualify for this.
QuiltingMama, I couldn't understand what this guy was saying either too confusing. But I just saw a video on youtube by Senator John Kennedy and he explained it so well in laymans terms, is easy to understand. Well, now I know I'm not getting any of this increased. I will call the soc sec office anyway to see if I qualify.
We aren't getting anything free with the passing of the Fairness Act.Due to my government pension when my husband died ,age 52, I could never get a penny surviving spouse benefits! Now since the passing of the Fairness Act, after 13 years will get my husbands spouse benefits. Will this be a great help,from my deceased husbands benefits! I can get car and house repairs done,pay ultitilitys in full. Pay off credit
cards. Really interest killing me, but nessary for emergencies!
This is the same for me.
Same boat. Keeping my fingers crossed for both of us.
@@sugarfree6377 thanks and to you too!
My dad worked regular 1/2 life then teacher later and was hit with WEP I will tell him to watch this.
He should have already gotten his raise as of this month. I did and boy did I
I worked 35 yrs and my husband worked 44 yrs. There is a reason why we get more than my sister and her husband. She worked 20 and her husband worked 10. I paid into what I get.
I worked for 26 years and paid in social security then i worked for school system as a custodian when I retired they took all my of my social security then got spousal support of 500 dollars then they turn around and took most of that I got after they took out for medicare i did n get much my retirement check is 850 barley make it thank God my for my husband who worked for 44 years God is good
Write your Congress people. Federal workers are being denigrated, lied about, scapegoated and attacked. They are trying to get them to quit. WHO WILL PROCESS YOUR CHECKS???????
Just because someone makes 6 figures doesn’t mean they are rich. Years of trying to maintain a business and the costs, expenses and taxes. Benefits paid for should not be taxed and the “penalty minded” provisions should be changed.
8would
Why
En
When will we know if we ququalify 17:02
Yes, but I bet they aren't eating dog food, either. People really do that. I've done it before for a short time. Not my first choice but hey it kept me alive.
I took my retirement at 65 And I continued working out of 4 or 5 years I worked in a state hospital no social security tax taken out when I left that employment for a job that took out social security tax so am I eligible to get back for those 5 years at A state job?
@@carolharris3977 I don't understand the question "get back those 5 years at a state job". Did you pay into the SSA after you left the job at the hospital enough to earn at least 40 quarters? Did you work at the state hospital long enought to qualify for their hospital pension? If the answer to both is yes then you probably qualify, if the answer is no on both questions then you would not be affected by the
WEP & GPO or its elimination.
@carolharris3977 all anyone needs to do is create an account at ssa.gov it will show if you’re entitled to receive SS period. You have to have all your quarters in.
Most people that retire at full retirement age die within 20 Yrs of retirement. I retired at 62 Yrs old and took a hit on my benifits I am now 73Yrs old and choose when I want to work. The stress of the job VA hospital nurse drove me out
The stress at the VA hospital especially as a nurses is insane still. Smh. 🤦🏽♀️
I was a va nurse for 20 the years@Found4655
Thank You!! Excellent, professional information
You are welcome!
Is income in excess of 176K used in the calculation to determine the retiree benefit amount?
No, since the payroll taxes are capped, the benefit will only be based on one’s income up to the cap.
So would a six yr navy vet engineer who went to feds dept of energy and retired after 30 years be affected?. He’s a full time disabled vet due to radiation ☢️ and prostate cancer now. Thanks
You may want to verify with SS if this applies to you
What happens to your check if you have drawn for 35 years?
When talking about having 30 years and its effect on WEB how does qualified earnings play into the amount. Now that you have done a good job explaining this situation, the only variable left is trying to understand how qualified earnings impact me. I think I have 26 years of qualified earnings and 4 years that I did not meet the amount required. Thanks.
Sadly, HR82 removed the requirement of YOCs. Now to receive the 90% adjustment, you only need 40 work credits. So calculate your AIME & PIA then that's your estimated monthly benefit payment
Are you saying that the amount to be considered as qualified earnings is now $1810.00 in a year? Just when I thought I had it figured out.@@zynxmynx69
You should sign in or call & make an appointment w/SS. They will give you answers
Without all of your data, do this; Add up only the highest 35 years of income, then divide that amount by 420. That's your AIME.
Now use these 3 calculations to get your PIA/ monthly benefit amount
a) 90% x the first $1,226.00 of your AIME
b) 32% x from $1,226.00 up to $7,391.00 of your AIME
c) 15% x over $7,391.00 of your AIME
I was a Congressional secretary in the 70s and social security was not deducted and I don't receive a government pension so I got screwed for 7 years.
I worked in Canada for ~13 years before moving to the US and becoming a US citizen. During my work history in Canada, I did not pay into the US Social Security Security system, but did pay into the Canadian SS system. After moving to the USA, I worked for 23-years in the US and paid into the US Social Security. So my question is, when I calculate my AIME (Average Indexed Monthly Income) do I divide my "Total Taxed SS Earnings" which spans 23-years by 23*12=276 months, or do I still use the 35*12=420 months even though I did not work the full 35 years in the US?
Note: Not sure if this is relavent to my question or not, but the US and Canada do have a Tax Treaty Agreement designed to prevent double taxation for Canadian residents with US income and US citizens working and living in Canada.
What about the people on ssi
I didn't know the peoples that runs our country could be so cruel
Ditto!! 😢
@carolynmcdonald they’ve been cruel to those folks for 40 years, stealing what was rightfully theirs
Those Peoples😂 gonna get crueler.
They should promote all, especially in the State of VA.
What if you have worked for over 40years,will I get any kind of cuts ????
No cuts will occur
AM A full time worker and have company ins when do l sign up for medcare
It depends on a few things here is a video we did about this that can help your scenario: ua-cam.com/video/s1QlWaWhr70/v-deo.html
If you have any questions you can call us at 800-864-8890.
Does the tax we paid is now under payment of taxes for those years. Do we need to refile our taxes?
I am taking my social security early and I am still working. Once I make the limit of 23,400 will my payments stop and if so for how long?
Your payments will not stop, if you are making over the earning test limit they will just penalize your SS check. For every $2 you earn about the $23,400 amount, they will penalize your SS check $1. So you'd still be getting a check, but it would be reduced.
I am totally confused. I receive spousal social security and my husband's pension from state prison. Am I going to lose money, receive more money or nothing will change?
You can verify with SS if this will effect you personally. You shouldn't except a decrease, if it does effect you, it would be an increase.
Pls clarify “what you need to do”. Remember if you already receiving SS and it’s direct deposit and you have been receiving it, then your bank acct and current address is correct. Yes it’s important to have an account set up which most ppl already do.
Disabled since childhood - few work credits! Currently receive SSDI, How does this affect me?
This likely would not affect you. This is for those that were county, state or government workers that get a reduction in SS due to WEP/GOP.
What about people that started out on SSDI Disability? In 1980 I went on SSDI Disability. I’m on Retirement now so will I get a raise at all? I was born in 1951 so will I get anything at all? I paid in at least 11 years so will I get anything at all?
Hears a good one for you. I worked 47 years for the post office and retired about 5 years ago, but I also worked and paid into SS before I worked for the GOV., and I worked a second job while I was working for the post office. I paid all of my 40 Quarters into SS. Now SS said they have overpaid me by $10,000. They took all of my SS away, and now I have to pay for my Medicare, which is $524.10 every 3 Months. I am still not receiving any SS.
@@jamesgranquist2791 SS told me they overpaid me $9600 which they were deducting $100 a month and my SS was cut $413 by the Windfall act so $513 less than I had been receiving for 18 months. Whenever they get around to making this right they will be paying us for all of 2024 and any months in 2025 that we are not paid the correct amount. So maybe 2k to still pay back for me since some of my months were in 2023 before the law took effect. I did ask for a waiver for the $9600 since it was ‘no fault of my own’, ha as if I was sending money to myself and picking the amount but they did not respond to that and gave me a payment plan. I would ask them for a payment plan if you can reach anyone since it is incomprehensible to think they should take all your SS. Good luck to all of us.
Congratulations! You are going to be a winner under this new law. It is retroactive to January, 2024.
@@jamesgranquist2791 apply again. You will receive it now. I have worked over 50 years and will just now get my full benefits. I am excited. And people who make over 100,000 a year who have worked very hard to do so have earned their own money. They should not be punished because we all have different amounts of income.
Well, now it's $555 every 3 months for 2025. And, the SS increase is only 2.5%.
Very unfair.
That’s just great. The people that probably will get maximum benefits anyway are going to get a big boost while everyone else is pinching pennies trying to buy groceries and get their medicine. Where is the fairness
Any concern if the total compensation on your earnings report is zero; and, social security and Medicare wages greater than zero?
I you already draw SSI, then they should have all the account and deposit numbers since I already have money going in there.
Well, they didn't use my top 35 years they used my last 35 years. Had they used the top 35 years I would be drawing $2500 per month because of the job I was working at befor I started working for the government. They, Social Security, used the last 35 years that I worked and I worked for the government from October until May the following year. So I worked 7 months out of the year. Needless to say instead of the 2500 a month, I only draw $1130 a month.
Why once you make over $176,000 do you no longer have to pay into SS?
Because the rich protect the rich. Politicians are bought out by the rich to keep them from paying taxes. Only the middle class suffer and pays for everyone. This is what Bernie Sanders has been trying to change for a long time now. If the rich paid there share of SS taxes we wouldn't be in a bind when they said SS is going to run out of money sometime around 2035.
That is the SS tax limit.
"The original rationale for the income cap on Social Security was to ensure that lower-wage earners would receive the majority of benefits."
I received a $500.00 a month raise. Retired Firefighter/Paramedic. I'm 69 and would like to get a job. Would it affect my S.S. and or Medicare ???
Not those of us that really need it the most
Social security is only meant to be a supplement to your earnings and savings. It is not meant to be your living income . Why don't you know that ? The fairness act does not come close to correcting the loss many of these people were subjected to. Many years retired at a reduced rate they will never get back. Only those that qualified for social security will get this correction.
No it’s for people who are old and don’t work. You want old people working until they drop?
They keep saying that, but with that logic, there should never have been the WEP & GPO in the first place. Your pension is one leg of the three legged stool and SSA is another, the third leg is your savings and investments. The WEP & GPO removed or reduced the size of one leg of that stool. So telling you tht SSA was never meant to be your total retirement income and then taking your SSA benefit away or reducing it because someone thinks you are getting too much money each month is dead wrong.
Ok what about a person that was working and got injured and cannot work
So I depend on ssdi for ,y living
@darrellflowers6298 its just a different situation. Nothing to do with the fairness act. SS benefits have never been enough for someone that life crapped on. It stinks, life is not fair. Where is the family for these people ? Where are the charity organizations?
Well it sure as hell don't help people on SSI we get screwed every time
What are you talking about? Those on SS, SSI, and SSDI have received a 24% pay raise just since 2022. We're barely out of 2024. People who are still in the workforce didn't get a 24% pay raise over this same time period.
Except in the case of the Windfall Act, in that case people that received money unfairly, from government employees who had payed into the system but didn't get those funds back. Pretty much like stealing.
That is money we paid in already.
@WoodFever1 People still working also got hit by 4 years of Biden, but we didn't get a 24% pay raise since 2022 like those on SS, SSI, and SSDI got.
I worked for 37 years I paid into the system, my husband makes a little less than I do in SS
What about being covered by all three?
Thanks
No problem!
Maybe this will help some people who are in my situation. It wasn't covered in your talk. My wife was receiving $700+ in disability per month, and had been since the early 70's. She died in 2013. I went to social security, and they told me I would get no survivor benefits because I was retired Postal Service, and receiving a government pension. Where do I fall in all of this?
You will want to verify with SS about this scenario.
@@MedicareSchool Okay. Thank you for your prompt response
What about people that work in public jobs like county and city govt. I worked 18 yrs miami-dade water & sewer authority and 15 yrs with the city of Brooksville and I was paying into social security and also into the state of florida pension. Will I be getting a increased under this newly signed social security fairness act?
This includes county and state jobs included. You can verify with SS on your eligibility.
I have a question my father passed away in 1974 from cancer due to work my father paid in to his pension as well as Southern Pacific railroad long story short mother was totally disabled before my dad died but they didn't care she was denied disability and denied my father's pension I wish more people would speak on this, how many other families suffered how many are still suffering my mother only asked that my father paid in from his own check the money he earned never asked for anything that the company paid
This SS Act is for people who receive a government pension. It makes u in t so a person on a government pension get their full SS when at the retirement age, not just a small percentage of it. In other words, I’ll be getting my full amount of $1600/m upon retirement that I paid into instead of the $200/m cause I’m receiving state pension.
If your benefits were affected by WEP, that was because your state pension paid 0 $$ contributions, not just Medicare contributions. WEP wasn't perfect but it is a known business calculation. So; 1 yr=1buck & a non-covered pension=NCP.
10 bucks from 1 job & -5 bucks from an NCP is 10+(-5)=5 benefits
10 bucks from 1 job & 0 bucks from NO other job is 10+0=10 benefits
I'm getting ss & civil service pension for the last 13 years. Do I need to check in with the website you suggested? Thanks
We would advise checking
Excellent video, a lot of formulas etc. but your "numbers" will help us figure out what we may get.
Glad that we can help!
To all affected by WEP/GPO please write to the SSA to voice your displeasure with the update stating that it will take 1 year or more to update and send out the monthly SS checks and up to 2 years to send out the retroactive payment. This is simply the SSA Commissioner playing politics for more funding and manpower at the expense of public employee retirees. I also ask that you contact your House Representative and Senators to hold the SSA Commissioner's feet to the fire in sending out our adjusted monthly SS checks and retroactive check in a timely manner.
USAF 10- Yrs ATC + FAA 25 Yrs ATC = I'm Good
Very detailed video and excellent explanation. Are the bend points establish for a person the year they begin taking SS Benefits or are they the year you turn 62 ?
The year they turn 62.
My husband worked for the VA between 1980 and 1984. He didn't pay into SS because the VA had their own system. Would he be affected? Thanks for your info! Good video.
You will want to verify with SS.
@MedicareSchool thank you
Great video. I have a question. I was taking my SS and Widows SS. When I retired from the state SS took 2/3 of my state retirement off of my SS monthly amount. Should I assume that is the amount I will get back once they figure it out? I was getting the SS benefits for two years until I retired from the state SS.
Most likely
Don't count on it!
I watched your video and I immediately subscribed because you are the only creator on this subject that I've listened to that mentioned Postal workers subjected to the WEP. I happen to be one of them. The only criticism i have is that you mention 30 years of income that paid SS and not being affected by WEP. Those 30 years of income have to be SUBSTANTIEL earnings. Other than that I like your channel. You are very straight forward and easy to understand. I lplan on watching more of your videos in the future.
We are glad you are here, if you have any questions just give us a call at 800-864-8890.
Hopefully by passing the Fairness Act, opens the door to reform Social Security system for all others in the system and their financial situation improves!
My wages in the 70s were from 5 to 9 dollars an hour.80s not much more.No pension,no spousal.Im out.
Is this for the people that became disabled do we need to file something or will we get a hefty raise?
This is for those that receive some kind of government pension.
Nope
Those on disability got a hefty 24% COLA increase over the past 3 years. People who are still working didn't get a 24% pay raise.
So only if you worked for the government not right
Do we get only half of the SS spousal benefits? And my own I will not get any then?
You can only get one or the other not both. Depending on what age you collect, you can collect up to half of a spouse benefit.
are Railroad employes effected by this ?
I work outside railroad for many years, but also retired from the railroad. I have not got an explanation concerning railroad workers
A portion would be affected by this, you will have to verify with SS if your situation specifically qualifies.
Is it top 5 or 35 years. I hear both
35 years
Social Security uses a 35 year work history. If you worked less then you get zeros added for those years. Some state pensions calculate based upon high 5 years and numbers of years worked with a multiplier based upon age.
Highest 35 years of income, divided by 420. Nothing more
I worked at a school as a custodian for 13 years and when I retired, the WEP took a large amount away from my SS. I paid into SERS and receive a Pension. My SS was reduced. I have my 40 quarters in the public sector and worked 13 years in the school (government) sector. WIll I get more in my SS now that WEP has been repealed?
Most likely, you can verify with SS.
Could the top 35 years be less that the 35 years? I have my 40 quarters of SS work and get $400.00 a month SS but arrived at it in less that 35 years. I do have 39 years under CSRS and a pension from that as well as a military pension from active duty as well as reserve time. Am I impacted by WEP?
You can verify on the site if this will benefit you
They need to focus on people on Social Security that struggle more to anybody that has a job or used to work cuz people like us can't have things like people that have jobs that make them have more money
It won’t be me. I got the 2.5% and that will be all even though I worked for a school district for 23 years
Is this for also divorce spousal benefits I was married for 21 years. Do I get partake in that?
No this is for government, state and/or state workers.
Social security is an insurance program that replaces lost earnings.
When enacted the taxes were 3% and maximum earnings were $ 3,ooo.
Quarters of coverage $50 a quarter 4 qc $200.
$200 year
I am retired Fed worker in the CSRS category. I'm still subject to WEP/GPO as my 1/15/25 SSA check showed a $14 increase over my monthly payment which is 40% of my actual benefit. I can see how it should be easy for SSA to give us our full amount since my reduced monthly is based off that amount.
What concerns me is how will SSA pay the GPO portion based off the amount my deceased spouse earned. She passed almost 12 years ago. How do they link her identity to me so that I receive a portion of her benefits that's more than double of my SSA benefit? I'm guessing that you'll be required to present your 'evidence' to them. It won't be automatic. Glad I saved all my wife's papers including SSA. Having been in government I saw the morass of red tape and slow walking, BUT, I also saw examples of how things can move swiftly within a day's time when it's beneficial to them.
I guess you simply make an appointment at a Social Security office, Show that you were married to her with her SSA number and the rest will be automatic.
When an individual continues to work after full retirement but takes at FRA, does the Primary insurance amount increase with new years to replace some of the past years not at good?
Once you've collected benefits, they are no longer considering the new income to change the amount you receive. You are locked in at that amount you received unless it's due to COLA increases.
Your highest 35 years of income, divided by 420. Nothing more
@@kimbuck-2 It continues to fund the fund, yes
@ Your highest 35 years of income, divided by 420 is your AIME. So sorry, yes, If you worked beyond your FRA it could raise your benefit if it added 1 more higher year of income. But they will still ONLY use 35 highest income years
If you are not taking social security, new years of work can replace lower income years in the calculation. (I am doing that now, and watching my projected benefit increase.)
My understanding is that the benefit calculation is locked at the point you start taking social security, or age 70, whichever comes first, even if you keep working.
Wow... didn't pay in, but somehow, getting retro payments because they should have paid in? What about those who should have been paid max earnings but somehow didn't?
no one is getting paid that didnt pay in. Just because they didnt pay in as a fireman, policeman etc doesnt mean they didnt pay in with another job. If you have 0 quarters SS you get 0$
I worked until I was 72years old. So I would make enough SSI benefits to live on, And now people that retired at 67years old gets a increase in SS payments and I don't. And that's kinda dirty because they tell me I make to much money to get more money.
The RONALD WILSON REAGAN ACT.😮people who pay fica and into a retirement fund only receive one-third of the social security they are entitled to. CORRECT?
He signed it, but Democrats controlled the House. Tip O'Neil was the Speaker of the House. So lay all the blame on Reagan if it makes you feel better, but Democrats in the House passed the law and sent it to him to sign. The actual blame should be directed at BOTH parties.
Biden helped sign it into law 40 years ago. Glad he signed it in 2024 to right the wrong
Comprehensive explanation. Interesting to see how it plays out,
Thank you!
Surviving widows receive 100% of deceased wage earners benefits..Thousands of dollars a month.
Not if you made a few dollars more than your husband. Then you get nothing.
We Will ?
3 million, not all! Go figure.
Everybody else had their benefits increased 24% since 2022. People who are still working didn't get a 24% pay raise over the past 3 years.
I need help paying for rent it keeps going up and takes up most of my SS. I don’t mind going back to work part time but I will have to pay back everything. Why since I paid into it when I worked all my life?
Pay back everything????
@@howardfriedman7077 I didn't get that either.
Make an appointment w/SS & have them help u figure it all out. Best of luck