Windfall Elimination Provision - The Simple Reason

Learning for the first time that the Social Security you expected is going to be reduced by the Windfall Elimination Provision, can be a shock to many. While it is noted in our annual Social Security Earnings Statements, many of us don't read through it, so remain unaware. OK, here is the simple version of what it is, ans why. Remember, I am just the messenger.

Of note: "Congress passed the WEP to prevent workers who receive non-covered pensions from receiving higher Social Security benefits as if they were long-time, low-wage earners. b In 2020, the WEP applied to 3.0 percent of all beneficiaries..." https://www.ssa.gov/policy/docs/program-explainers/windfall-elimination-provision.html

As always, all statements in this video and elsewhere online are general information only, do not constitute legal advice and do not create an attorney client privilege. To obtain legal advice, retain a lawyer.