H.R. 82 - anyone watching this?

[cnelk]

This would be huge for many people if it passes.

GovInfo

Official Publications from the U.S. Government Publishing Office.

www.govinfo.gov

 

[JPD350]

I don't have any big interest whether they repeal it or not, I just thought the post was interesting.

I did a quick look up to see the initial purpose of WEP and GPO, it appears to have good intentions. I am hoping to hear someone explain why this should be repealed right now and after 40 years of existence.

I just want to say that do not like Chuck Schumer, I realize the bill had a bipartisan vote in the House but most things Chuckie likes makes me a little leery.


The Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) were created to make Social Security more fair and to prevent workers with non-covered employment from receiving an unfair advantage:

• Purpose
  The WEP and GPO were created to:
  
  • Remove an unintended advantage for workers who received pensions from noncovered employment while also earning Social Security benefits
    
    
  • Ensure a minimum income for workers who spent their careers in low-paying jobs
    
    
  • Prevent preferential treatment for workers with employment exempt from Social Security
    
• How they work
  The WEP and GPO adjust the benefit formula for workers with significant non-covered employment:
  
  • The WEP adjusts Social Security benefits for workers who receive non-covered pensions
    
    
  • The GPO is used to compensate spouses who stayed home to raise a family and were financially dependent on the working spouse
    
• When they were created
  The WEP and GPO were created in 1983 as part of major amendments to Social Security
  
  
• Who they impact
  The WEP and GPO impact about 4 percent of Social Security beneficiaries

 

[fireguy65]

I have a lot of interest in this passing ... I spent 30 years in the fire service and I paid into social security. Why take away half of my s.s. for having a pension ? The windfall act is like paying for something and only getting half.

 

[Wrench]

The greedy bastards need their hands cut off so they'll stay out of our pockets. Either quit taking my money and refund me every penny now.....or let ride as was intended.

 

[cnelk]

I have a lot of interest in this passing ... I spent 30 years in the fire service and I paid into social security. Why take away half of my s.s. for having a pension ? The windfall act is like paying for something and only getting half.

^^^ This. Exactly.
I too get a pension and will only get about 1/2 my SS.
We will know by Jan 3, as this is the closest its ever gotten to passing.

 

[5MilesBack]

Just another reason why they should be paying out exactly what people put in with interest.....and not a penny more. Same for Medicare. They should have abolished these systems decades ago, and allowed the people to invest that money on their own for their retirement and healthcare.

 

[cnelk]

A key test vote to advance the measure is set for 2 p.m. Wednesday (today). The bill will need 60 votes to clear this procedural hurdle and head toward final passage.

Senate to vote on expanding Social Security payments for some teachers, firefighters

In a final lame-duck push, the Senate will attempt to pass legislation aimed at providing full Social Security benefits to millions of Americans this week.

abcnews.go.com

 

[fireguy65]

I just hope they vote by doing the right thing... and not about screwing over people honest hard working people trying.to make a difference. The money cost shouldn't play into the decision making, but we will see.

 

[JPD350]

I am just trying to understand the issue, so don't chew on me, I would have no problem sending an email to representatives if I could fully understand the issue.

So as a former employer I believe I use to match employee SS deductions every paycheck, once that employee applies for SS after all the years the formula for the amount of benefit is figured on the employees deductions and the employer matching the employees deductions.
On the flip side, is it correct or the issue being that a government entity only deducts an employees half of SS deductions and the government entity doesn't match the employees percentage?
If so, is this the reason for the SS benefit being half compared to someone like one of my employees who had me matching the SS percentage making the amount paid into SS double than a non paying employers employee?
At the time of someone accessing SS and if the SS administration were to pretend to have funds that were not paid into that employee's SS the money would be coming out of the SS fund and not the government entity that skipped taking the money out of it's own budget in real time, wouldn't that create a deficit of SS funds?

Most employers pay/match the employee deduction, personally it sounds way better to get a government pension and a SS check of what I paid into SS, although it just sounds like a government entity cutting corners to meet their budgets at the expense of employees and the SS fund that the entity didn't pay into.