Episode 12: Federal Employee Financial Planning Social Security Fairness Act: WEP
Federal Employee Financial Planning Podcast · Mason & Associates
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Show Notes
The windfall elimination provision (WEP) is an altered benefit procedure that reduces the Social Security benefits of certain retired or disabled workers who are also entitled to pension benefits. Its purpose is to remove a "windfall" that these workers would otherwise receive. WEP's supporters argue that the formula is a means to prevent larger payments and benefits to folks, whereas opponents argue that the provision radically reduces a benefit that workers may have included in their retirement plans. In this episode, Michael, Tommy, and John will be sharing how the recent legislation will impact this provision and how this may affect you.
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