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Five Wins for Federal Employees in the Social Security Fairness Act

The article from MSN Money discusses the Social Security Fairness Act, which aims to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions currently reduce or eliminate Social Security benefits for many federal, state, and local government employees who also receive pensions from non-Social Security covered employment. Here are the key points:

Repeal of WEP and GPO: The Act would eliminate these offsets, allowing federal employees to receive full Social Security benefits alongside their pensions.

Impact on Beneficiaries: Over 2.8 million public servants, including teachers, police officers, and firefighters, would benefit from this change, receiving an average increase of $600 per month in Social Security benefits.

Bipartisan Support: The bill has garnered support from both sides of the political spectrum, with 300 co-sponsors in the House, indicating a strong push towards its passage.

Economic and Fairness Argument: Proponents argue that these provisions unfairly penalize public servants, and their removal would not only be a matter of fairness but also provide a significant economic boost to these workers.

Current Status: While the bill has passed the House in previous sessions, it has not yet been enacted into law, but there is renewed optimism for its passage in the current legislative session.

Read the Full Kiplinger Article at:
[ https://www.msn.com/en-us/money/retirement/five-wins-for-federal-employees-in-the-social-security-fairness-act/ar-AA1zvODt ]