Social Security Board of Trustees Annual Report warns of an accelerated timetable for trust fund depletion and potential benefit reductions that could significantly impact ...

The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), enacted in the late 1970s and early 1980s, were designed to reduce government spending on Social Security.

If Congress fails to act in the very near future, the date on which Social Security will no longer be able to pay full benefits is only eight years away in 2033, according to the just-released Social ...

The Old-Age and Survivor’s Insurance (OASI) fund is projected to become insolvent in 2033, says the Social Security trustee report, released on June 18. At that time, it will pay out around 77% of the ...

And that’s what the windfall elimination provision does. When that WEP formula is applied to my Social Security computation, it gives me the roughly 40% return rate rather than the 90% rate ...

The Social Security Fairness Act, signed in January, eliminated the Windfall Elimination Provision and Government Pension Offset, which had reduced benefits for some public pension recipients.

The SSA said in an April 29 press release: "SSA has made significant strides in implementing the Social Security Fairness Act, having paid over $14.8 billion in retroactive payments to more than 2 ...

The Social Security Administration (SSA) has processed over 2.5 million retroactive payments for teachers, firefighters, police officers and others with public pensions who were previously locked ...

The legislation passed Saturday by Congress eliminates two formula, known as the Windfall Elimination Provision and the Government Pension Offset, that reduced benefits for workers who paid into ...

Earlier this year, Biden signed a bill that boosted Social Security payments for nearly 3 million people. Here’s an update on the expanded benefits.