Bill Would Bring Much-Needed Financial Relief to WEP-Affected Retirees
Are you or is someone you know one of the nearly 2 million people affected by the Windfall Elimination Provision (WEP), which unfairly reduces the earned Social Security benefits of public servants? If so, send a letter to your Representative encouraging them to cosponsor the Public Servants Protection and Fairness Act, H.R. 2337, introduced by House Ways and Means Chairman Richard E. Neal, D-MA.
Under the legislation, Social Security beneficiaries affected by the WEP who will turn age 62 before 2023 would receive a $150 monthly rebate to offset some of the WEP penalty, which in 2021 can be as high as $498/month. For those turning 62 in 2023 or later, a new, fairer formula would be implemented, with benefits calculated based on the proportion of earnings covered by Social Security to total earnings. These future retirees would have their WEP penalty calculated by the formula that results in the lowest penalty, either the new formula or the current one.
Thanks to your advocacy prior to the bill’s introduction, 140 original cosponsors signed on in support, giving it a strong start in the legislative process. House rules stipulate that any bill with 290 cosponsors will receive a vote on the House floor, so your advocacy is important to advancing this issue. While we recognize that this is not full repeal of the provision, any relief for WEP-affected individuals is welcomed.
Contact your Representative and ask them to cosponsor this important legislation.