Congress is gearing up to vote on a significant bill that could increase Social Security benefits for certain Americans if it gets the green light. However, it is still a plan.
In September 2024, Representatives Abigail Spanberger, a Democrat from Virginia, and Garret Graves, a Republican from Louisiana, will be filing a petition to bring the Social Security Fairness Act to a vote said Newsweek.
What is the aim of this Social Security Bill?
This piece of legislation aims to get rid of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
The WEP and GPO currently reduce Social Security benefits for millions of Americans. The bill, which has garnered support from 325 cosponsors, only requires 218 signatures to force a vote on the House floor.
“For more than 40 years, millions of Americans—police officers, teachers, firefighters, and other local and state public servants—have been stripped of their benefits as an unjust penalty for devoting much of their careers to serving their communities and fellow Americans.
These Virginians, Louisianans, and Americans across our country deserve their full retirement benefits—just like every other American who has paid into Social Security,” Spanberger and Graves said in a joint statement.
This proposed act seeks to restore fairness and ensure that those who have dedicated their lives to public service receive the retirement benefits they rightfully deserve.
They added: “For years, we have worked together to build bipartisan support for this effort and urge House Leadership to take real action to right this wrong. As those efforts have stalled, we are using every tool at our disposal to finally get this done.”
The Social Security Fairness Act: A Step Towards Justice
Representatives Spanberger and Graves have emphasized that the Social Security Fairness Act could eliminate unjust penalties imposed on public servant workers. This legislation aims to address and correct the inequities faced by those who have dedicated their careers to public service.
Understanding the WEP and Its Impact
The Windfall Elimination Provision (WEP) specifically reduces the amount of earned Social Security benefits if the recipient also receives a public pension from a job not covered by SSA. For instance, teachers who work in public schools and also hold part-time jobs see their benefits diminished under this rule.
The GPO: A Barrier for Government Employees
Similarly, the Government Pension Offset (GPO) affects spousal benefits for those employed by the government in positions not covered by Social Security. As a result, surviving spouses who also receive a government pension can see their benefits reduced by up to two-thirds.
Why This Matters
These provisions have long been a source of frustration and financial hardship for public servants. The Social Security Fairness Act aims to rectify these issues, ensuring that those who have committed their lives to serving the public are not unfairly penalized. By removing these unjust penalties, we can provide fairer and more equitable support for our public servants.
- WEP (Windfall Elimination Provision): Reduces Social Security benefits for those with public pensions.
- GPO (Government Pension Offset): Cuts spousal benefits for government employees with public pensions.
Moving Forward
Despite the challenges and delays, representatives Spanberger and Graves remain committed to pushing for the passage of the Social Security Fairness Act. It’s time to take concrete steps to support our public servants and ensure they receive the benefits they have rightfully earned.
A woman stands outside a US Social Security Administration building on November 5, 2020, in Burbank, California. If a new bill passes, Social Security benefits would increase for many Americans.
Exciting Changes Could Be on the Horizon for Social Security Benefits
“Those receiving Social Security benefits are at the forefront of many new bills and proposals, and with good reason,” Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, claims Newsweek.
“There are plenty of potential revisions that could greatly assist individuals and families who could be receiving increased funding in a time when most of them desperately need it.
This bill looks to reform WEP and GPO, two features that reduce Social Security benefits for some state and federal employees in different jobs in various states.”
What Does This Mean for You?
If passed, this new bill could have a significant impact on Social Security benefits, particularly for those affected by the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions currently reduce benefits for certain state and federal employees. The reform aims to:
- Increase funding for individuals and families in need.
- Remove or reduce the impact of WEP and GPO on benefit calculations.
- Provide more equitable benefits across different states and job types.
These changes are especially important at a time when financial stability is crucial for many Americans. Increased Social Security benefits could provide much-needed relief and support.
Keeping up with potential changes to Social Security benefits is essential. As new bills and proposals are introduced, staying informed can help you understand how these changes might affect you and your family.