Congress Tries Yet Another Way to Meddle With Your Social Security

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Here’s the latest development: The Windfall Elimination Provision (WEP), which was passed in 1983, is now the target of Congress’ prying eyes. This already-confusing legislation is summarized as follows:

This provision can affect you when you earn a retirement or disability pension from an employer who didn’t withhold Social Security taxes and you qualify for Social Security retirement or disability benefits from work in other jobs for which you did pay taxes.

In other words, for those who worked in the public sector, it reduces the percentage of income replacement you would get based on how long you worked in the public sector and didn’t have Social Security removed from your check. (Most public sector employees put their taxes into a special public pension fund.)