Let’s help all DA members be aware of the Windfall Elimination Provision
This month I want to again focus on WEP because it may affect you now or in the future as we have found out through our Seniors Caucus work over this past year.
The Windfall Elimination Provision (WEP), is a statutory provision in U.S. law that affects benefits paid by the Social Security Administration, which was signed into law in April 1983. The WEP was meant to eliminate the advantage some workers used to receive from overlapping full-retirement pensions supplemented by partial Social Security-covered employment. See our WEP FAQs page for a more detailed explanation.
As a direct result of WEP, many retired Americans who live or once lived abroad, and who have paid into Social Security do not receive their full benefits or fair share of them from Social Security when they retire. Also, some beneficiaries only learn of WEP after they have retired, and the reduced benefits substantially affect their family’s financial standing in later years. (See Brendan Read’s post in the Legislation section below for more information).