I know someone who was affected by the GPO and only gets $300 dollars a month in their Social Security. They started getting their in 2007 so my question is how much they will get a month now when Biden sign HR 82?
Many people are still thinking that people who will get relief under this bill did not pay into social security. No one seems to stress the fact that no one will get increased social security benefits if they didn't pay into the social security system. These people who worked for the government and saw their benefits reduced also paid into the social security system just like everyone else. To qualify for any social scurity benefit, you must have worked at least 10 years total and have paid taxes into social security to get any benefit. During the time they were working at a non-government job they were not paying into the government retirement plan So for part of their employment they were paying into social security and part of their employment they were paying into the government plan. The two together make up their monthly benefit. Where it is unfair is that someone decided that they were getting rich and decreased the amount the social security was paying in that portion of the monthly benefit. This has been the law for the last 40 years. It is way overdue to be repealed.
This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes." The other 97% of US get nothing.
@@zynxmynx69you have your full benefit when you retired but the 3% was rob of our full benefit just because we also have a government pension but we paid both on the government pension and FICA taxes. I even paid both the employer and employee part because I worked as self employed after my government service. It is just fair to get what we paid for same as you. You are in the 97% because you got all what is due you. I got only 40%.
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
@@JEWELALEE Sorry, "According to recent data, approximately 3% of Social Security beneficiaries are affected by the Windfall Elimination Provision (WEP), meaning around 2.1 million retirees experience a reduction in their benefits due to this provision; the Government Pension Offset (GPO) affects a smaller percentage, impacting roughly 1% of beneficiaries."
The one thing that bothers me about this bill is they're going to give us a mere pittance of what we've actually paid in taxes. When I went on Medicare and Social Security they started cutting me 66% a month in taxes. Plus the fact that I had to retire on a Disability Pension which was tax exempt prior to going on Social Security! People don't understand the fact that we have paid our dues. They all think we haven't paid into Social Security at all. But we have 66% a month for 11 years in my case; others have paid into social security a lot longer than I have! For me that’s about $254,000! You go figure that! They're barely giving us anything back compared to what we've put into Social Security! They all think we haven't paid into Social Security at all. Please remind people that we have paid into Social Security! Not that we're going to just do away with HR-82 which has been totally unfair to us!!
This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
Add it up, add your pay in for however many years, then add the years expected to collect, divide the amounts into monthly payments say for 25 years, surprise you never paid enough to last , well maybe 10 years at best.
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
@@zynxmynx69 You don't get 'nothing'. you get your full SS benefit as prescribed by law. That is opposed to a person who paid into and qualifies for both SS and a public pension and receives less in SS benefits than other retirees.
It is non-covered if you and your employer did not pay into the SS system during the years worked at that job (ie. typically a state or local government pension/retirement fund).
IT depends on how much your benefits were reduced by the WEP. This video describes how to calculate that reduction, but it requires some work to calculate. On the other hand you can just wait until sometime in 2025 and you will receive notification from the SS administration about the change in your annual benefit.
The next step is to eliminate the income withholding cap to unlimited and add assets until corporate stock buy backs are banned with hard penalties and for some felony charges.
I have 40 qtrs. I worked for 43 yrs, not in school dist. I now draw social security retirement. They took out no taxes out of school dist job. But I only made $866 at school dist.
Then you will get 100% of your social security. This doesn't apply to you. It's this applies to people who were ripped off and stolen from. You. Got your 100% social security off the backs of people who didn't get all of the social security that they paid
@@Daysleeper1000 This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
@@Daysleeper1000 Not I. I speak for the remaining 97%, who did NOT receive a SECOND govt pension. Remember, it is OUR portion of OUR SS contributions to the fund, that they need, in order to fund this idiotic belief that they paid their FAIR share,......thieves
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
Most likely they will increase. the old formula, as i understand it, compared the benefit of both spouses and if the survivor's SS benefit per month was greater than the benefit from the death of the spouse....then no increase. Under this legislation, that calculation is not made and surviving spouses will receive the same amount as all other surviving spouses currently receive.
Kate, action will come after Biden's signs this legislation into law. Until then, nothing will be done. He has indicated he will sign this into law on January 6th, 2025. At some point after that, i would expect the Social Security Administration to notify the beneficiaries of this new law and what the effects will be for each individual.
All I know, is it is not a fair system. I was self employed a lot of my life, lower net income, so paid in less than some. That said, I compared what I paid in vs my wife. I paid in more than her, but her benefits will be higher. Also, if you never pay in a dime, you can get SSI of $949 a month, more than my age 62 benefits of $750. Please someone explain that one, lol
So if a person ( never) pays into SS they should get nothing. People need to get off their ass’s and work… Why should I have to pay for people who payed nothing into SS….
@@JimMooney-yg6cd Which is exactly what a non-covered pension does. It pays 0 in SS taxes, which creates a shortfall of SS tax contribution So who pays this shortfall US or THEM?
This law HR 82 is about righting a wrong done to many people who worked a private sector career and then went into public sector and they were punished. They did not get 100% of their social security as promised. HR 82 refunds the money that was stolen.
@@Daysleeper1000 This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
@@zynxmynx69 Once again, this is incorrect. This bill affects over 2 million public sector workers who also participate in a public pension plan that is exempt from paying into SS. So it is not only fire fighters, it is also some police, some nurses, same teachers, some clerical workers, some case workers, etc. etc. So if Kathy is receiving a public pension and is also receiving SS benefits, she will get more than the COLA.
Why aren’t y’all telling the raise folks will receive and when on this fairness act ? What date will the raise happen ? What if Biden doesn’t sign this bill then what ?
If you listened to this video, he DID give you the ability to calculate the 'raise' you will receive. just do the homework with your own information. The effect of this legislation is retroactive back to january 1, 2024. President Biden has given every indication that he WILL sign this legislation. If he doesn't sign and doesn't veto by january 8, 2025, the bill automatically becomes law. It only won't become law if President Biden vetoes the legislation.
@@KC-bt2ui But they don't deserve it. A "NON-covered pension” pays 0 in SS taxes. So, did you have a "NON-covered pension" when you retired? If you did, did you have 30 YOCs? If you did NOT, then YOUR "NON-covered pension” created a shortfall of SS taxes that never contributed to the fund. So who pays this shortfall US or YOU?
@@janetcummings9814 so you weren't vested. You have to work so many years to be vested in the pension system. So it sounds like you're just straight social security. Congratulations! At least you're getting 100% of your social security for your hard work.
You are misleading people by not providing enough information. People work two jobs and pay tax for two programs. They were penalised for this. That’s why it’s called the fairness act. Many people have worked for 50 or more years.
If someone paid FICA into a public sector municipality pension, it means they likely did not contribute to Social Security taxes because their public sector job likely offered a pension plan that 1)exempted them from mandatory Social Security coverage, where 2)most of their earnings were NOT taxed, and 3)their FICA contributions would only go towards Medicare, NOT Social Security. The SS benefit formula of 90% was intended to provide assistance to a long-term low-wage earner, with surviving BELOW the poverty line. And the SS WEP benefit formula of 40% was intended to provide assistance to a higher wage earner, with surviving ABOVE the poverty line.
@@zynxmynx69 Did you miss the part where Adblas indicated that they worked TWO jobs and paid TAX for two programs? Given the nature of this discussion, isnt it fair to assume that they were referring to a public pension job and a private job, ergo the Windfall provision?
I agree misleading. I worked over 20 yrs putting into social security. The SS statement has an amount(same amount for years) that says if I didn't put anything more, that is what I get. I earned that! If I retire from education, they take away from that money?? I call that stealing!
@@KC-bt2ui Then both of you don't understand WEP & GPO, or you've both been duped. WEP & GPO, scales the % of SS benefits, IF & only IF, you had a NON-COVERED pension, from NON-COVERED employment, when you retired. NON-COVERED employment = "A job where an employee and their employer DID NOT pay Social Security taxes." So, if I contributed X, and you contributed X(-1), they you didn't contribute the same as me, so your benefits are scaled.
@@zynxmynx69 I think i understand the WEP and GPO fairly well. You are correct that the feds scale the % of SS benefits (assuming you are fully qualified to receive them) based upon the quantity of your contribution. You are incorrect on your second assertion that the person who contributes X receives more versus the person who contributes X - 1. While that math is generally true for people receiving SS benefits who don't have public pensions , it isn't the case with WEP. WEP imposes an additional, and substantial, reduction in benefits which exceeds the 'X versus X -1' situation you described. That additional reduction can be up to, but not exceed 50%. The original intent of this section of the code was to prevent some retirees from receiving a 'windfall' benefit in their retirement. One could argue that the formula wasn't adjusted correctly to account for the difference between: 1) a worker who qualifies for both a non covered pension and SS, and 2) a lifetime low wage worker who doesn't have a non covered pension. There is most likely an inequity there, but congress chose to use a sledgehammer rather than a scalpel to deal with it. There is also a substantial inequity with regard to the very wealthy. IF Congress was really concerned with 'windfall' benefits in retirement, why didn't they also reduce SS benefits for individuals of substantial wealth who were receiving annual retirement benefits dramatically exceeding the mean retirement benefit in the US? Why pay out SS benefits to someone who receives $200k or more per year in private retirement benefits if they were really concerned about windfalls, or even if they were concerned about the long term financial health of the SS fund?
When I applied for my SS they took from me and deducted 200 because I had a pension from the NYC school system. So I guess I will hopefully see that back. I may just call SS and find out myself
@@5saxman7 There is a formula for what the affected individuals will 'get back' or how much more they will receive in SS benefits. Remember, this legislation is effective only back to january 1, 2024.
You wonder, how many people will get approved and social security finds out 2 yrs later that they should not have been approved and they'll want all that money back.
This isnt a 'windfall', it is making people 'whole' who were receiving reduced SS benefits because they also qualified for another pension. People in the private sector, regardless of the size of their 401k's or other pension benefits do not receive a SS reduction because of that pension. Why should public employees receive a reduction in SS benefits because they have worked enough to qualify for another public pension?
People paid into the SOCIAL security through the WEP/GPO law who have pass away DID NOT have a opportunity to enjoy the benefits from SOCIAL security before they die,nobody talking about those people and families who love ones work 20 and 30 years and did not receive No benefits for their Hard Working.Now all of a sudden EVERYBODY worry about the SOCIAL SECURITY why you was not talking about the People who was not getting NO benefits for their work so now you want Americans be worry about SOCIAL SECURITY coming up short,blame the POLITICIANS they are at Fault not the Working people.The next thing you see the POLITICIANS giving the Rich a TAX Cuts.I guarantees they the POLITICIANS WILL NOT raise the Taxes on the rich but that would be one way to help SOCIAL SECURITY.
There's no reason for stretching over time ,if the swamp in Washington can send 3 times the amount talked about ,to another country,in 24 hours ,it don't take 10 years to put it into social security .
The losers in this arrangement are those who worked only in the private sector and paid into social security all their working career and because of the progressive nature of social security could end up with less return on their contributions while those who worked in both private and public sector could get more for their contributions as their public sector income and pension contributions would be excluded in determining bend points. Why didn't the public sector Congress address this inequity in the WEP/GPO repeal given the progressive arrangement of social security.
Why indeed? Which 'progressive arrangement' are you referring to? The 'losers' as you put it, made their own decisions about where to work and what retirement vehicles they would use. SS was never meant to be a primary retirement vehicle, it was meant to be a safety net. Public sectors pensions REQUIRE employees to regularly contribute a percentage of their earned wages for retirement. I assure you that given the formula for how SS benefit payments are made, the vast majority will be handled according to their regulations. That means, after the repeal of WEP, people who have earned a public pension will not be subject to a substantial reduction in their earned SS benefit payment.
Great content, as always! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
Social security should be voluntary. The average worker is taxed at 12.4%. If this money was returned to the taxpayer, they would choose to invest that money in an IRA and have a better return on investment for a better retirement
Thank the democrat party for not allowing for individuals being able to invest that which they are taxed to be placed in an individual investment account that would return a higher investment. The government has been borrowing the interest on the total trust funds for years and writing an IOU for when the budget has a surplus. With 36 trillion of debt, even our grandchildren will never see the IOU paid back!
@@doubletap1headshot Thank you to the Democrat Party for ensuring that SS is alive today. Imagine the struggle of many families without ANY social security to fall back on.
I think Biden n Jill are SO pissed at Schumer, Pelose n other Democrats that ran Biden out as President.. I think Bidens will not sign this to get back at the Democrats one last time before he gets out of office…
Your information is so very wrong.. This public employee in clouding me that work and contribute our 40 quarters or more to social secutity just like other seniors ONLY GOT PAID 1/3 OF OUR SSA BENIFITS..WE DESERVED THIS UNFAIRNESS AND GET PAID THE CORRECT BENIFITS THAT WE DESERVE.
@rumbaann I should've been clearer. When I said it's double paying, I was referring to the public/private employee who is paying into both a pension AND social security. Thus, they're not double dipping. They're double paying. Of course they deserve 100% of what they paid into and earned.
governments problem is they dont still think of million as anything...they barely register at one billion....they are wrong...which is costing us...trillions...
I'm sick and tired of hearing about this! This bill is anything but fair. Most public employees get mega pensions. Those that don't can still get limited SS too. Is it fair that someone who gets an $8,000 per month pension also gets their abandon SS. Max SS is about $3,700 per month. Those who get pensions in excess of this amount shouldn't get a bonus! The government supported these higher pensions and the people paid their contributions. Now they want to double dip! Those that get a lesser govt pension still get limited SS. They need to make that portion fairer. Not give everyone a super bonus!
Let me explain. I worked for Social Security for 21 years in the public sector and tied in Social Security for 21 years then I become a teacher and worked 30 almost 30 years in this occupation with a pension but mind you I paid in 22% of my salary to get that pension, it wasn’t free since I worked for both Social Security and a private pension. I feel like I’m entitled to both because I have paid into and was denied. I received only 1/3 as my Social Security was given to me .
I agree with what you said. My husband is in the same boat. Social Security received was only about 1/3 of what it should have been because of his pension. At the time he retired the Social Security called it double dipping. I am tired of not getting what we should be getting and people who complain that we get a pension and that should be enough.
I don't know where you're getting that propaganda from, about these big fat pensions, but you're wrong. I paid into social security for 25 years, I'm also a veteran. I then worked public sector for a local government. A small municipality making far less than other public sector jobs and all private sector jobs. But it was a job because I had moved and I needed to work. I don't like to be a parasite off the system. Anyways, I work 10 years at a local municipality, paying into a pension. Now I'm told I only get 1/3 of my social security that I paid into. So you need to get your facts straight and slow. Your roll. Billions and billions of dollars were stolen off the backs of Americans so people like you can get 100% of your social security!
@@lanataylor3985 If you put in 30 VOCs WEP is eliminated. Those who ARE part of the very very small percentage (3%) that benefits from this bill, you simply (empathetically speaking), DO NOT deserve the 90% adjustment
You haven't received the benefits of this legislation yet, so the $19 increase you mentioned is probably due to the Cost of Living Adjustment, and NOT the effect of the cancellation of the Windfall Elimination provision of the tax code. It will be 2025 before the SS administration calculates and notifies people about the increase in their SS benefits. Just hang in there.
ACap will not respond to comments seeking tax or financial advice. Please consult a CPA or CFP who is familiar with your individual circumstances.
I know someone who was affected by the GPO and only gets $300 dollars a month in their Social Security. They started getting their in 2007 so my question is how much they will get a month now when Biden sign HR 82?
And what kind of back pay can they expect?
There would be no strain on SS if the federal government would stop treating it like their private slush fund.
Many people are still thinking that people who will get relief under this bill did not pay into social security. No one seems to stress the fact that no one will get increased social security benefits if they didn't pay into the social security system. These people who worked for the government and saw their benefits reduced also paid into the social security system just like everyone else. To qualify for any social scurity benefit, you must have worked at least 10 years total and have paid taxes into social security to get any benefit. During the time they were working at a non-government job they were not paying into the government retirement plan So for part of their employment they were paying into social security and part of their employment they were paying into the government plan. The two together make up their monthly benefit. Where it is unfair is that someone decided that they were getting rich and decreased the amount the social security was paying in that portion of the monthly benefit. This has been the law for the last 40 years. It is way overdue to be repealed.
This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes." The other 97% of US get nothing.
@@zynxmynx69you have your full benefit when you retired but the 3% was rob of our full benefit just because we also have a government pension but we paid both on the government pension and FICA taxes. I even paid both the employer and employee part because I worked as self employed after my government service. It is just fair to get what we paid for same as you. You are in the 97% because you got all what is due you. I got only 40%.
Why 3%?
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
@@JEWELALEE Sorry, "According to recent data, approximately 3% of Social Security beneficiaries are affected by the Windfall Elimination Provision (WEP), meaning around 2.1 million retirees experience a reduction in their benefits due to this provision; the Government Pension Offset (GPO) affects a smaller percentage, impacting roughly 1% of beneficiaries."
The one thing that bothers me about this bill is they're going to give us a mere pittance of what we've actually paid in taxes. When I went on Medicare and Social Security they started cutting me 66% a month in taxes. Plus the fact that I had to retire on a Disability Pension which was tax exempt prior to going on Social Security! People don't understand the fact that we have paid our dues. They all think we haven't paid into Social Security at all. But we have 66% a month for 11 years in my case; others have paid into social security a lot longer than I have! For me that’s about $254,000! You go figure that! They're barely giving us anything back compared to what we've put into Social Security! They all think we haven't paid into Social Security at all. Please remind people that we have paid into Social Security! Not that we're going to just do away with HR-82 which has been totally unfair to us!!
This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
Add it up, add your pay in for however many years, then add the years expected to collect, divide the amounts into monthly payments say for 25 years, surprise you never paid enough to last , well maybe 10 years at best.
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
@@terrymoore565 Simply put, So, if I contributed X, and you contributed X(-1), they you didn't contribute the same as me, so your benefits are scaled.
@@zynxmynx69 You don't get 'nothing'. you get your full SS benefit as prescribed by law. That is opposed to a person who paid into and qualifies for both SS and a public pension and receives less in SS benefits than other retirees.
The monthly amount of my non-covered pension. 1. How do I know if it is non-covered? Not understanding. 2. Is the monthly amount the gross amount?
It is non-covered if you and your employer did not pay into the SS system during the years worked at that job (ie. typically a state or local government pension/retirement fund).
When and how much may we receive as police,teacher & fire fighters ?
IT depends on how much your benefits were reduced by the WEP. This video describes how to calculate that reduction, but it requires some work to calculate. On the other hand you can just wait until sometime in 2025 and you will receive notification from the SS administration about the change in your annual benefit.
The next step is to eliminate the income withholding cap to unlimited and add assets until corporate stock buy backs are banned with hard penalties and for some felony charges.
Remove the CAP!
I have 40 qtrs. I worked for 43 yrs, not in school dist. I now draw social security retirement. They took out no taxes out of school dist job. But I only made $866 at school dist.
Then you will get 100% of your social security. This doesn't apply to you. It's this applies to people who were ripped off and stolen from. You. Got your 100% social security off the backs of people who didn't get all of the social security that they paid
@@Daysleeper1000 This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
@zynxmynx69 you get 100 percent of your SS! Congrats 👏🎉
@@Daysleeper1000 Not I. I speak for the remaining 97%, who did NOT receive a SECOND govt pension.
Remember, it is OUR portion of OUR SS contributions to the fund, that they need, in order to fund this idiotic belief that they paid their FAIR share,......thieves
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
my wife was a teacher for over 10 years will my survivor benefits increase under the fairness act
Most likely they will increase. the old formula, as i understand it, compared the benefit of both spouses and if the survivor's SS benefit per month was greater than the benefit from the death of the spouse....then no increase. Under this legislation, that calculation is not made and surviving spouses will receive the same amount as all other surviving spouses currently receive.
Everyone on RUclips keeps saying this, but I see no action. What I do see is a wide array of figures and dates. This is cruel.
Kate, action will come after Biden's signs this legislation into law. Until then, nothing will be done. He has indicated he will sign this into law on January 6th, 2025. At some point after that, i would expect the Social Security Administration to notify the beneficiaries of this new law and what the effects will be for each individual.
All I know, is it is not a fair system. I was self employed a lot of my life, lower net income, so paid in less than some. That said, I compared what I paid in vs my wife. I paid in more than her, but her benefits will be higher. Also, if you never pay in a dime, you can get SSI of $949 a month, more than my age 62 benefits of $750. Please someone explain that one, lol
So if a person ( never) pays into SS they should get nothing.
People need to get off their ass’s and work…
Why should I have to pay for people who payed nothing into SS….
How much of your self-employed time was cash, no payments to SS, no income taxes?
Employers contribute as well. Not sure if you paid that additional amount when you were working.
@@JimMooney-yg6cd Which is exactly what a non-covered pension does.
It pays 0 in SS taxes, which creates a shortfall of SS tax contribution
So who pays this shortfall US or THEM?
All the questions!!!
What about the foreign pension? I am affected by the WEP rule. My US SSA pension is reduced by 40% because I receive a Pension from the German SSA.
Many comment and complain about the
Persons benefiting from HR82.
How many out there benefited from the
Funds that were taken over the last 40 years.
Will this help the disabled at all when they pd in before being disabled but were half credit short?
This law HR 82 is about righting a wrong done to many people who worked a private sector career and then went into public sector and they were punished. They did not get 100% of their social security as promised. HR 82 refunds the money that was stolen.
@@Daysleeper1000 This bill only benefits 3% of retired SS beneficiaries, who ALSO RECEIVE a PENSION or disability BENEFIT from an employer that DID NOT WITHHOLD Social Security taxes. The other 97% of US get nothing.
@@zynxmynx69 Congrats! You are getting 100 percent of your SS! 😁 Glad you weren't robbed. ✌️
@@zynxmynx69please do your research and try to understand the bill.
@@zynxmynx69 That "3%" you mention is almost 3 million Americans who qualify for SS benefits, but receive reduced benefits because they also qualify for other public pensions. Why are you whining about the other 97% who get nothing? You know that simply isn't true.
What about people who had a non covered job before 1983?
If we are not fire fighters. When do we get a rsise
Do you collect 100% of your social security? Did you pay into a pension, and pay into social security in private sector?
do you have a SS exempt pension? HR82 only benefits people with SS exempt pensions.
COLA only
@@zynxmynx69 Once again, this is incorrect. This bill affects over 2 million public sector workers who also participate in a public pension plan that is exempt from paying into SS. So it is not only fire fighters, it is also some police, some nurses, same teachers, some clerical workers, some case workers, etc. etc. So if Kathy is receiving a public pension and is also receiving SS benefits, she will get more than the COLA.
Why aren’t y’all telling the raise folks will receive and when on this fairness act ? What date will the raise happen ? What if Biden doesn’t sign this bill then what ?
If you listened to this video, he DID give you the ability to calculate the 'raise' you will receive. just do the homework with your own information. The effect of this legislation is retroactive back to january 1, 2024. President Biden has given every indication that he WILL sign this legislation. If he doesn't sign and doesn't veto by january 8, 2025, the bill automatically becomes law. It only won't become law if President Biden vetoes the legislation.
He will sign it on January 6, at 10:00 a.m.
@kimm59 apparently you are misunderstanding. This video is about people who have a public pension AND qualify for SS benefits.
@@KC-bt2ui But they don't deserve it. A "NON-covered pension” pays 0 in SS taxes. So, did you have a "NON-covered pension" when you retired? If you did, did you have 30 YOCs? If you did NOT, then YOUR "NON-covered pension” created a shortfall of SS taxes that never contributed to the fund.
So who pays this shortfall US or YOU?
I made in 2021 working in a school dist as bus driver trainee, I'm curious if I will be included in this.
40 quarters
Did you pay into social security enough credits to get a social security check? Did you work public sector enough to draw a pension?
do you a have SS exempt pension? HR82 only benefits people with SS exempt pensions.
The tax exempt job at the school dist which I made $885, after the job ended I did get a check from Teachers retirement, that I had paid in.
@@janetcummings9814 so you weren't vested. You have to work so many years to be vested in the pension system. So it sounds like you're just straight social security. Congratulations! At least you're getting 100% of your social security for your hard work.
You are misleading people by not providing enough information. People work two jobs and pay tax for two programs. They were penalised for this. That’s why it’s called the fairness act. Many people have worked for 50 or more years.
If someone paid FICA into a public sector municipality pension, it means they likely did not contribute to Social Security taxes because their public sector job likely offered a pension plan that 1)exempted them from mandatory Social Security coverage, where 2)most of their earnings were NOT taxed, and 3)their FICA contributions would only go towards Medicare, NOT Social Security.
The SS benefit formula of 90% was intended to provide assistance to a long-term low-wage earner, with surviving BELOW the poverty line. And the SS WEP benefit formula of 40% was intended to provide assistance to a higher wage earner, with surviving ABOVE the poverty line.
@@zynxmynx69
Did you miss the part where Adblas indicated that they worked TWO jobs and paid TAX for two programs? Given the nature of this discussion, isnt it fair to assume that they were referring to a public pension job and a private job, ergo the Windfall provision?
I agree misleading. I worked over 20 yrs putting into social security. The SS statement has an amount(same amount for years) that says if I didn't put anything more, that is what I get. I earned that! If I retire from education, they take away from that money?? I call that stealing!
@@KC-bt2ui Then both of you don't understand WEP & GPO, or you've both been duped.
WEP & GPO, scales the % of SS benefits, IF & only IF, you had a NON-COVERED pension, from NON-COVERED employment, when you retired.
NON-COVERED employment = "A job where an employee and their employer DID NOT pay Social Security taxes."
So, if I contributed X, and you contributed X(-1), they you didn't contribute the same as me, so your benefits are scaled.
@@zynxmynx69 I think i understand the WEP and GPO fairly well. You are correct that the feds scale the % of SS benefits (assuming you are fully qualified to receive them) based upon the quantity of your contribution. You are incorrect on your second assertion that the person who contributes X receives more versus the person who contributes X - 1. While that math is generally true for people receiving SS benefits who don't have public pensions , it isn't the case with WEP. WEP imposes an additional, and substantial, reduction in benefits which exceeds the 'X versus X -1' situation you described. That additional reduction can be up to, but not exceed 50%.
The original intent of this section of the code was to prevent some retirees from receiving a 'windfall' benefit in their retirement. One could argue that the formula wasn't adjusted correctly to account for the difference between: 1) a worker who qualifies for both a non covered pension and SS, and 2) a lifetime low wage worker who doesn't have a non covered pension. There is most likely an inequity there, but congress chose to use a sledgehammer rather than a scalpel to deal with it.
There is also a substantial inequity with regard to the very wealthy. IF Congress was really concerned with 'windfall' benefits in retirement, why didn't they also reduce SS benefits for individuals of substantial wealth who were receiving annual retirement benefits dramatically exceeding the mean retirement benefit in the US? Why pay out SS benefits to someone who receives $200k or more per year in private retirement benefits if they were really concerned about windfalls, or even if they were concerned about the long term financial health of the SS fund?
When I applied for my SS they took from me and deducted 200 because I had a pension from the NYC school system. So I guess I will hopefully see that back. I may just call SS and find out myself
You will get it back.
@@5saxman7 There is a formula for what the affected individuals will 'get back' or how much more they will receive in SS benefits. Remember, this legislation is effective only back to january 1, 2024.
Song Phil Phillips sang
You wonder, how many people will get approved and social security finds out 2 yrs later that they should not have been approved and they'll want all that money back.
Only helping around 3M people. The majority of us won’t get any of this windfall.
This isnt a 'windfall', it is making people 'whole' who were receiving reduced SS benefits because they also qualified for another pension. People in the private sector, regardless of the size of their 401k's or other pension benefits do not receive a SS reduction because of that pension. Why should public employees receive a reduction in SS benefits because they have worked enough to qualify for another public pension?
People paid into the SOCIAL security through the WEP/GPO law who have pass away DID NOT have a opportunity to enjoy the benefits from SOCIAL security before they die,nobody talking about those people and families who love ones work 20 and 30 years and did not receive No benefits for their Hard Working.Now all of a sudden EVERYBODY worry about the SOCIAL SECURITY why you was not talking about the People who was not getting NO benefits for their work so now you want Americans be worry about SOCIAL SECURITY coming up short,blame the POLITICIANS they are at Fault not the Working people.The next thing you see the POLITICIANS giving the Rich a TAX Cuts.I guarantees they the POLITICIANS WILL NOT raise the Taxes on the rich but that would be one way to help SOCIAL SECURITY.
I won't get get my hopes up.
and yes I already know I wont....so you were wrong....but just in one aspect....but there were two....click bait?
The bill was just presented to the President on December 27th (Friday)
He's got 10 days, but now he gets bereavement days for Carter 🤔
Veeeeeeeeeeeto!
@@zynxmynx69 President Biden has publicly stated that he will sign this bill on January 6th, 2025. This bill will NOT be vetoed.
@@zynxmynx69 he should be signing that on Monday, 6th
@@zynxmynx69 there will not be a veto for this legislation. President Biden has already indicated that he would sign this bill.
@@zynxmynx69 President Biden has indicated previously, that he would sign this bill if it was passed by Congress. NO veto.
Get LOUD SENIORS
There's no reason for stretching over time ,if the swamp in Washington can send 3 times the amount talked about ,to another country,in 24 hours ,it don't take 10 years to put it into social security .
That didn't help me
your picture on your post said Id get more money...were you wrong?
The losers in this arrangement are those who worked only in the private sector and paid into social security all their working career and because of the progressive nature of social security could end up with less return on their contributions while those who worked in both private and public sector could get more for their contributions as their public sector income and pension contributions would be excluded in determining bend points.
Why didn't the public sector Congress address this inequity in the WEP/GPO repeal given the progressive arrangement of social security.
Why indeed? Which 'progressive arrangement' are you referring to? The 'losers' as you put it, made their own decisions about where to work and what retirement vehicles they would use.
SS was never meant to be a primary retirement vehicle, it was meant to be a safety net. Public sectors pensions REQUIRE employees to regularly contribute a percentage of their earned wages for retirement. I assure you that given the formula for how SS benefit payments are made, the vast majority will be handled according to their regulations. That means, after the repeal of WEP, people who have earned a public pension will not be subject to a substantial reduction in their earned SS benefit payment.
I paid into social security for 23 years and also paid into a non covered pension plan for 23 years. I feel I deserve both.
The i.ly thing thst increades os the amount the government and private insurance companyies can chargebl you.
Great content, as always! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
No they won't ! I do not receive a pension !!!!!!!
Thr cola I got 5.00
This is 😢
Social security should be voluntary. The average worker is taxed at 12.4%. If this money was returned to the taxpayer, they would choose to invest that money in an IRA and have a better return on investment for a better retirement
Then you would have poor farms.
Do you believe that the average worker is smart enough to wisely invest with an IRA?
Thank the democrat party for not allowing for individuals being able to invest that which they are taxed to be placed in an individual investment account that would return a higher investment. The government has been borrowing the interest on the total trust funds for years and writing an IOU for when the budget has a surplus. With 36 trillion of debt, even our grandchildren will never see the IOU paid back!
@5saxman7 how does a personal choice effect a farmer?
@@doubletap1headshot Thank you to the Democrat Party for ensuring that SS is alive today. Imagine the struggle of many families without ANY social security to fall back on.
Xao Ke
Maybe he won't sign it
I think Biden n Jill are SO pissed at Schumer, Pelose n other Democrats that ran Biden out as President..
I think Bidens will not sign this to get back at the Democrats one last time before he gets out of office…
It's not double dipping. It's double paying.
No it’s not. They contributed to both security programs and shouldn’t be punished for working two different jobs.
@@adblas2222100% true
Your information is so very wrong.. This public employee in clouding me that work and contribute our 40 quarters or more to social secutity just like other seniors ONLY GOT PAID 1/3 OF OUR SSA BENIFITS..WE DESERVED THIS UNFAIRNESS AND GET PAID THE CORRECT BENIFITS THAT WE DESERVE.
@rumbaann I should've been clearer. When I said it's double paying, I was referring to the public/private employee who is paying into both a pension AND social security. Thus, they're not double dipping. They're double paying. Of course they deserve 100% of what they paid into and earned.
@@Po1itica11yNcorrect 100% correct
Lies Mucho Boxit Chathem
governments problem is they dont still think of million as anything...they barely register at one billion....they are wrong...which is costing us...trillions...
Mucho Lies Cathem
Don't believe it any more bla bla bla
Bull Shit
Bidden shoold sign this crap.
Ppl wo didnt contribute on SS have shouldnt receive SS period!
I'm sick and tired of hearing about this! This bill is anything but fair. Most public employees get mega pensions. Those that don't can still get limited SS too. Is it fair that someone who gets an $8,000 per month pension also gets their abandon SS. Max SS is about $3,700 per month. Those who get pensions in excess of this amount shouldn't get a bonus! The government supported these higher pensions and the people paid their contributions. Now they want to double dip! Those that get a lesser govt pension still get limited SS. They need to make that portion fairer. Not give everyone a super bonus!
Let me explain. I worked for Social Security for 21 years in the public sector and tied in Social Security for 21 years then I become a teacher and worked 30 almost 30 years in this occupation with a pension but mind you I paid in 22% of my salary to get that pension, it wasn’t free since I worked for both Social Security and a private pension. I feel like I’m entitled to both because I have paid into and was denied. I received only 1/3 as my Social Security was given to me .
I agree with what you said. My husband is in the same boat. Social Security received was only about 1/3 of what it should have been because of his pension. At the time he retired the Social Security called it double dipping. I am tired of not getting what we should be getting and people who complain that we get a pension and that should be enough.
Get your facts straight skippy my
Pension is no where near $8000
I don't know where you're getting that propaganda from, about these big fat pensions, but you're wrong. I paid into social security for 25 years, I'm also a veteran. I then worked public sector for a local government. A small municipality making far less than other public sector jobs and all private sector jobs. But it was a job because I had moved and I needed to work. I don't like to be a parasite off the system. Anyways, I work 10 years at a local municipality, paying into a pension. Now I'm told I only get 1/3 of my social security that I paid into. So you need to get your facts straight and slow. Your roll. Billions and billions of dollars were stolen off the backs of Americans so people like you can get 100% of your social security!
@@lanataylor3985 If you put in 30 VOCs WEP is eliminated. Those who ARE part of the very very small percentage (3%) that benefits from this bill, you simply (empathetically speaking), DO NOT deserve the 90% adjustment
This is a bullsh$t post. Mine increased by $19!
You haven't received the benefits of this legislation yet, so the $19 increase you mentioned is probably due to the Cost of Living Adjustment, and NOT the effect of the cancellation of the Windfall Elimination provision of the tax code. It will be 2025 before the SS administration calculates and notifies people about the increase in their SS benefits. Just hang in there.
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