How was it double dipping when they took it out of our checks. I've been retired 8 years now and denied much of what I put in to social security for 23 years. WEP and GOP were wrong.
If you can't see the obvious you don't want too ... Do we get to have multiple ss checks ....one for each job ? Pure BS ! I hope they not only reverse this AGAIN but make every do nothing " public servant ( joke)" pay it all back . WE HAVE TO PUT IN 50 YEARS TO GET ONE PENSION ....PERIOD . NO WE DONT GET TO " RETIRE " AT 50 YO EITHER!
I don’t care about the cost, it’s righting a wrong made 40 years ago. Congress needs to figure out how to keep the funds solvent, and their fingers out of the pot.
@@mikehocking4836you could be grateful you didn't lose half your SS, you paid into SS. It's not like they get "extra" money, or a raise.Rhey paid into disability and would never get a penny, regardless.
This was explained very well. However the government shouldn't called this Social Security Fairness Act because it's not. Some of us County workers had no choice and was forced not to pay into social security in the early 80's. So, I ended up with 37 credits and retired with 37 years of service. So, this doesn't apply to people with less than 10 years you must have 40 credits. So unfair. In order for me to complete my credits I would have to get a job that pays into Social Security in order to complete my 40 credits. What I want to know the money that I did contribute where did that go? This sound like a government class action law suit!
I’m a civil servant with a defined benefit plan (pension) and I started out with very low wages but I stuck with it since the benefits were pretty good (thanks to the union). I have enough SS credits (prior military) and wanted to work part time to raise my SS benefits but because of WEP they would have just decreased my SS payments. Now with the repeal it’s makes sense for me to take a part time job to add to the retirement savings on Social Security so I can eventually retire with a livable income.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time. Individuals can seek counsel from a certified financial advisor to optimise financial outcomes, who can provide specialised advice and methods to decrease expenses and maximise income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I worked for 32 years and paid into social security with a pension all those years. Now you’re saying it doesn’t effect individuals on the FERS system unless it has a CSRS component? WHAT!!!
The law doesn’t affect military retirement. Unless, there was something prior to 1982, when I joined. If you are SS age and your benefits are reduced, then you would know if WEP applies to you.
Over 3 million people SS was reduced 80% solely because they receive a pension that did not pay into SS, yet other employment made them eligible for SS, yet they penalized these people and reduced their SS. it’s that that simple. They removed the unfair penalty. Like for instance just a crude example, say going to work for a certain company and because your a certain gender or religion or hair color, perhaps just any excuse to pay you less, they only pay you 20% of what the rest of the employees get. How fair would that be?
You get 2 incomes thou so why you complaining my job never offered a pension so is that fair that yours did so public servants only matter it's totally unfair the UNFAIRNESS ACT
@@mikehocking4836not my fault you didn’t work at a place that paid you a pension, so I’m supposed to be penalized because I did? Notice all these people providing a service to the community, fire fighters, police, nurses, teachers, ya ever think it was a way to create socialism? Penalizing people who tried to get ahead? Penalty for those to level the income for everyone. You’ll own nothing and be happy.
@@mikehocking4836 So, if you’re already getting have a savings account when you retire, according to you, you shouldn’t get social security even though you paid because you already have money?
@@mikehocking4836You should have planned better. Simple as that. This why SSI was created because so many put Zero thought into retirement until it’s too late.
It may not apply to many school system retirees. In my state, for example, all state employees pay into the Social Security system. Teachers in this state (and most others) will not benefit from this bill because it is only for people working government jobs that don't pay into social security.
It will not impact your SSDI, unless you're also currently receiving a disability pension from an employer that did not withhold Social Security taxes from your salary while working.
I PRAY TO GOD, ALL WHO IS DUE THIS MONEY WILL GET IT SOONER 🙏 THAN LATER, SO THEY CAN ENJOY AND BENEFIT FROM IT WHILE THEY ARE STILL ABLE TO ENJOY IT, BUT IF THEY ARE NOT AROUND, I AM SURE SOME OF THEIR CHILDREN AND FAMILY WILL BENEFIT FROM IT. SO MAKE SURE YOU ARE RIGHTEOUS, BECAUSE THE BIBLE SAYS THE WEALTH AND RICHES OF THE WICKED IS STORED UP FOR THE RIGHTEOUS. THIS IS FOR ALL, BLACK, OR WHITE, MALE OR FEMALE, RICH OR POOR, GOD IS NO RESPECT OF PERSONS. JUDGEMENT WILL COME TO THE WICKED. THE MONEY WILL COME, BUT YOU MAY NOT BE AROUND TO ENJOY IT. ( Just something to think about.). 😢😮 🙏
It will not impact your SSDI, unless you're also currently receiving a disability pension from an employer that did not withhold Social Security taxes from your salary while working.
Does this act include FERS workers that get a pension and also worked in the civilian sector that pd into social security? Pls let me know but a comment to my comment. Thank you.
Any money paid into SS will be credited to your account. You’ll want to review your annual SS statement to ensure that it includes all employment where you paid SS taxes. Notify SS if they are missing any periods and provide documentation of SS taxes you paid.
What was not fair was State County,and Municipal Employees denined thier full benefits they had paid into Due to Regan's signing a law against double dipping
What was NOT fair is the fact that I did pay into SS and have my 40 quarters BUT because I was a teacher I didn’t get any. Plus my husband paid into SS and I did not get ANY survivors benefits. His paying into SS took food off of our table and yet I got NONE.
You do not totally understand the WEP or GPO....I'm a retired police Officer and also worked 27 years on SS, but they took 40% from my monthly SS, which was totally unfair, because I earned the full 27 Years.
Only for people that worked public servant jobs I guess there jobs and pensions matter more then the rest of us that rely on just SS nobodys job is above anothers I dont care what you do let them live on 1368 month after working 47 hard labor jobs oh I have no medical either its the UNFAIRNESS ACT MY opinion
The social security benefits statement have mentioned do not rely only on social security benefits as your only retirement. The statement have mentioned pension, investment, savings. Companies have 401k to save for retirement. A person could have opened a Roth IRA, brokerage investment account to save for retirement. An individual could save by saving money in CD's, high yield saving account, money market account.
You paid into ss and received your benefit.Why should public servants who also paid into ss like you, be denied their benefit? In that case, stop all ss benefits for all retirees.Then everything will be equal! Better?
@@mikehocking4836 also what I have seen that some people wait until 1 or 2 years before they retire to calculate all of the living expenses that is needed to retire and make an appointment to social security to see how much the person will receive a month in benefits. I know some people are not computer savvy in how to create the social security account online to get access of the social security benefits statement that is available online each year. To me social security should resume mailing the social security benefits statement. I am 16 years away from retirement, I knew Medicare Part B will be deducted from the social security benefits. My late mom and late dad had supplement insurance with their Medicare Part B for an additional cost and Medicare Part D, etc. and had IRA, investments brokerage account, money market account, CD'S, etc. I took all of that in consideration in how much I will need to live off when I retired. I try to max out my maximum contribution in my 457b, 457b Roth, Roth IRA, building up my high yield saving account, buying dividends stocks in ETF in my brokerage account because things can change with the pension and my health. God forbid if I have to retire sooner than planned. I only hold myself accountable and not blaming others for not understanding what is needed to retire.
THANK GOD FOR ALLOWING THIS BILL TO PASS, NOW I AM PRAYING THAT GOD WILL 🙏 TOUCH THE HEARTS OF THE MEN IN CONGRESS THAT THEY 🙏 WILL GET THIS MONEY TO THE PEOPLE WITHIN 3 TO 6 MONTHS, OR SOONER, THEY SHOULDN'T HAVE TO WAIT THIS LONG, 🙏 I THINK WE HAVE WAITED TO LONG AND LONG ENOUGH. BUT I OUT IT IN GOD'S HANDS AND EXPECT A 🙏 MIRACLE FOR THE AMERICAN PEOPLE, THE ILLIGAL IMMIGRANTS HAD THEIR PAYDAY, NOW IT'S TIME FOR THE HARDWORKING AMERICAN SENIOR CITIZENS TO HAVE THEIR LONG OVERDUE PAYDAY. GOD BLESS TRUMP AND HIS FAMILY AND GOD BLESS AMERICA. GOD HELP PRESIDENT TRUMP MAKE AMERICAN GREAT AND RIGHTEOUS AND HOLY AGAIN. 🙏 🙏 🙏 🙏 🙏 ❤❤❤❤❤ 😇 😇
How was it double dipping when they took it out of our checks. I've been retired 8 years now and denied much of what I put in to social security for 23 years. WEP and GOP were wrong.
For some reason, they think we get this large pension! They stole our money!
@@TeresaPeterson-r8h If you had Penision plan as a ASFSCME member then you came under the term double dipping
Yes they did!!
If you can't see the obvious you don't want too ...
Do we get to have multiple ss checks ....one for each job ?
Pure BS ! I hope they not only reverse this AGAIN but make every do nothing " public servant ( joke)" pay it all back .
WE HAVE TO PUT IN 50 YEARS TO GET ONE PENSION ....PERIOD .
NO WE DONT GET TO " RETIRE " AT 50 YO EITHER!
FINALLY, A CLEAR AND VERY HELPFUL VIDEO ON THE FAIRNESS ACT! THANK YOU VERY MUCH!
Glad it was helpful!
I don’t care about the cost, it’s righting a wrong made 40 years ago. Congress needs to figure out how to keep the funds solvent, and their fingers out of the pot.
"Fingers out of the pot?"
Never a worry about how much was spent on illegals.
I agree! 👍
@@TheBoss12998 Okay, I'll ask you too: "fingers out of the pot?"
40 years but retroactive 1 year thief's
Great news social security recipients 😊😊😊😊😊
Not for people that don't get pensions it's a slap in are face
It’s BS!
@@mikehocking4836you could be grateful you didn't lose half your SS, you paid into SS. It's not like they get "extra" money, or a raise.Rhey paid into disability and would never get a penny, regardless.
This was explained very well. However the government shouldn't called this Social Security Fairness Act because it's not. Some of us County workers had no choice and was forced not to pay into social security in the early 80's. So, I ended up with 37 credits and retired with 37 years of service. So, this doesn't apply to people with less than 10 years you must have 40 credits. So unfair. In order for me to complete my credits I would have to get a job that pays into Social Security in order to complete my 40 credits. What I want to know the money that I did contribute where did that go? This sound like a government class action law suit!
Do you realize that no one with less than 40 credits (10 years) gets SS? Get you a part time job for 18 months and you'll have your credits.
I’m a civil servant with a defined benefit plan (pension) and I started out with very low wages but I stuck with it since the benefits were pretty good (thanks to the union). I have enough SS credits (prior military) and wanted to work part time to raise my SS benefits but because of WEP they would have just decreased my SS payments. Now with the repeal it’s makes sense for me to take a part time job to add to the retirement savings on Social Security so I can eventually retire with a livable income.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time. Individuals can seek counsel from a certified financial advisor to optimise financial outcomes, who can provide specialised advice and methods to decrease expenses and maximise income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Social Security is doing very good signing 😊😊😊😊😊
Thank you sir you explained that very well.
Thank you!
I worked for 32 years and paid into social security with a pension all those years. Now you’re saying it doesn’t effect individuals on the FERS system unless it has a CSRS component? WHAT!!!
Thank You Lord!! 🙌
Good information first watch
Thanks!
Does this plan apply to a Calstrs retiree of 2012 who also gets social security?
what about military retirees???
The law doesn’t affect military retirement. Unless, there was something prior to 1982, when I joined. If you are SS age and your benefits are reduced, then you would know if WEP applies to you.
As mentioned in the other comment, this doesn't apply to military retirees unless there's some other public service not covered by Social Security.
I said how can they call it the social security fairness act when people living under the poverty level are not including???
Over 3 million people SS was reduced 80% solely because they receive a pension that did not pay into SS, yet other employment made them eligible for SS, yet they penalized these people and reduced their SS. it’s that that simple. They removed the unfair penalty. Like for instance just a crude example, say going to work for a certain company and because your a certain gender or religion or hair color, perhaps just any excuse to pay you less, they only pay you 20% of what the rest of the employees get. How fair would that be?
You get 2 incomes thou so why you complaining my job never offered a pension so is that fair that yours did so public servants only matter it's totally unfair the UNFAIRNESS ACT
@@mikehocking4836not my fault you didn’t work at a place that paid you a pension, so I’m supposed to be penalized because I did? Notice all these people providing a service to the community, fire fighters, police, nurses, teachers, ya ever think it was a way to create socialism? Penalizing people who tried to get ahead? Penalty for those to level the income for everyone. You’ll own nothing and be happy.
@@mikehocking4836 So, if you’re already getting have a savings account when you retire, according to you, you shouldn’t get social security even though you paid because you already have money?
@@mikehocking4836You should have planned better. Simple as that. This why SSI was created because so many put Zero thought into retirement until it’s too late.
This does not apply to me although I am a school system retiree!
It may not apply to many school system retirees. In my state, for example, all state employees pay into the Social Security system. Teachers in this state (and most others) will not benefit from this bill because it is only for people working government jobs that don't pay into social security.
@ Thank you
Will SSDI get the boost
It is not a boost or raise. Listen to the talk and try to understand.
No
It will not impact your SSDI, unless you're also currently receiving a disability pension from an employer that did not withhold Social Security taxes from your salary while working.
Will this law effect railroad retiree widower that otherwise would have had his wife's SSD deducted from tier 1 if I were to file for it?
This law change could affect individuals or families who receive railroad retirement benefits.
Thank goodness
How can I call social security fairness act when the people living on the property level are not included
Probably because you were not having your SS reduced.
Only for certain retires most of Americans do not qualify for this boost
It is not a boost.
It’s not a boost. It is application of the same benefit formula for everyone.
I PRAY TO GOD, ALL WHO IS DUE THIS MONEY WILL GET IT SOONER 🙏 THAN LATER, SO THEY CAN ENJOY AND BENEFIT FROM IT WHILE THEY ARE STILL ABLE TO ENJOY IT, BUT IF THEY ARE NOT AROUND, I AM SURE SOME OF THEIR CHILDREN AND FAMILY WILL BENEFIT FROM IT.
SO MAKE SURE YOU ARE RIGHTEOUS, BECAUSE THE BIBLE SAYS THE WEALTH AND RICHES OF THE WICKED IS STORED UP FOR THE RIGHTEOUS. THIS IS FOR ALL, BLACK, OR WHITE, MALE OR FEMALE, RICH OR POOR, GOD IS NO RESPECT OF PERSONS. JUDGEMENT WILL COME TO THE WICKED. THE MONEY WILL COME, BUT YOU MAY NOT BE AROUND TO ENJOY IT. ( Just something to think about.). 😢😮 🙏
Does this affect people on SSDI?
It will not impact your SSDI, unless you're also currently receiving a disability pension from an employer that did not withhold Social Security taxes from your salary while working.
Does this act include FERS workers that get a pension and also worked in the civilian sector that pd into social security? Pls let me know but a comment to my comment. Thank you.
Kindly send me an answer to my prior question by sending it by comment back to me. Thank you so much.
You’re already getting SS in the FERS system.
Any money paid into SS will be credited to your account. You’ll want to review your annual SS statement to ensure that it includes all employment where you paid SS taxes. Notify SS if they are missing any periods and provide documentation of SS taxes you paid.
The act does not include FERS employees, unless you're under the CSRS Offset plan, which has components of both the old retirement system and FERS.
@TheMoneyBriefing Thank you so very much for your help. May God Bless you!
It's not fair for the millions of Americans on social security.
What was not fair was State County,and Municipal Employees denined thier full benefits they had paid into Due to Regan's signing a law against double dipping
Why not? They are actually getting full benefits already.
What was NOT fair is the fact that I did pay into SS and have my 40 quarters BUT because I was a teacher I didn’t get any. Plus my husband paid into SS and I did not get ANY survivors benefits. His paying into SS took food off of our table and yet I got NONE.
You do not totally understand the WEP or GPO....I'm a retired police Officer and also worked 27 years on SS, but they took 40% from my monthly SS, which was totally unfair, because I earned the full 27 Years.
They are stupid. We earned this.. our time!!!
Only for people that worked public servant jobs I guess there jobs and pensions matter more then the rest of us that rely on just SS nobodys job is above anothers I dont care what you do let them live on 1368 month after working 47 hard labor jobs oh I have no medical either its the UNFAIRNESS ACT MY opinion
We paid into the Social Security fund and haven’t been getting the benefits. That’s why it is fair.
The social security benefits statement have mentioned do not rely only on social security benefits as your only retirement. The statement have mentioned pension, investment, savings. Companies have 401k to save for retirement. A person could have opened a Roth IRA, brokerage investment account to save for retirement. An individual could save by saving money in CD's, high yield saving account, money market account.
You paid into ss and received your benefit.Why should public servants who also paid into ss like you, be denied their benefit? In that case, stop all ss benefits for all retirees.Then everything will be equal! Better?
@@mikehocking4836 also what I have seen that some people wait until 1 or 2 years before they retire to calculate all of the living expenses that is needed to retire and make an appointment to social security to see how much the person will receive a month in benefits. I know some people are not computer savvy in how to create the social security account online to get access of the social security benefits statement that is available online each year. To me social security should resume mailing the social security benefits statement. I am 16 years away from retirement, I knew Medicare Part B will be deducted from the social security benefits. My late mom and late dad had supplement insurance with their Medicare Part B for an additional cost and Medicare Part D, etc. and had IRA, investments brokerage account, money market account, CD'S, etc. I took all of that in consideration in how much I will need to live off when I retired. I try to max out my maximum contribution in my 457b, 457b Roth, Roth IRA, building up my high yield saving account, buying dividends stocks in ETF in my brokerage account because things can change with the pension and my health. God forbid if I have to retire sooner than planned. I only hold myself accountable and not blaming others for not understanding what is needed to retire.
Sorry, you planned poorly. This should not prevent you from wanting all Americans from being treated equally.
We don't care about public service workers
Very American of you.
BS!🤣😆🤣😆🤣
THANK GOD FOR ALLOWING THIS BILL TO PASS, NOW I AM PRAYING THAT GOD WILL 🙏 TOUCH THE HEARTS OF THE MEN IN CONGRESS THAT THEY 🙏 WILL GET THIS MONEY TO THE PEOPLE WITHIN 3 TO 6 MONTHS, OR SOONER, THEY SHOULDN'T HAVE TO WAIT THIS LONG, 🙏 I THINK WE HAVE WAITED TO LONG AND LONG ENOUGH. BUT I OUT IT IN GOD'S HANDS AND EXPECT A 🙏 MIRACLE FOR THE AMERICAN PEOPLE, THE ILLIGAL IMMIGRANTS HAD THEIR PAYDAY, NOW IT'S TIME FOR THE HARDWORKING AMERICAN SENIOR CITIZENS TO HAVE THEIR LONG OVERDUE PAYDAY. GOD BLESS TRUMP AND HIS FAMILY AND GOD BLESS AMERICA. GOD HELP PRESIDENT TRUMP MAKE AMERICAN GREAT AND RIGHTEOUS AND HOLY AGAIN. 🙏 🙏 🙏 🙏 🙏 ❤❤❤❤❤ 😇 😇
Good luck with that!
Only God Almighty can change the evil heart of Demonic Donald!!
Trump had absolutely nothing to do with this….Biden signed it into law!….Trump wants to cut your SS….