WEP Bill Amendment and Its Impact on Social Security

August 27, 2019

[vc_row][vc_column width=”2/3″ el_class=”section section1″][vc_column_text]Back on July 24th, Kevin Brady (R-TX), a representative of Congress, introduced a bill to amend the Windfall Elimination Provision (WEP). Till August 1st, there has been no announcement made on the congress website page.

The role of the bill is to make changes on social security Act and to formulate an equally benefiting statement which will replace the windfall elimination provision. The bill proposed aims to help individuals who have no employment as well

Therefore, there is an assumption that the legislation will not exclude the impact of WEP, but to some extent, will improve on the provisions towards social security.

Windfall Elimination Provision

The WEP has an impact on CSRS retirees and may also apply to CSRS balance as well as FERS Transferee retirees. The social security benefits are not repealed, where a retiree is eligible for his or her income. However, there is a drastic reduction in income entitled to social security. The windfall elimination provision was introduced in 1980′s to shape up the Social Security system and supporters of the public employment. The Congress has made efforts to eliminate it ever since but no success has been built.

What chances are there in eliminating the WEP?

The likelihood of making changes to WEP is low. On the previous occasion; the bills that were planned to eliminate the Windfall Elimination Provision reaped a lot of co-sponsors in the House of Congresses. For years past, the Congress involved more than half of the congressmen, including the powerful Ways and Means Team, contracted on as co-sponsors, but the bill did not make it out of the board. There is still little expectation this time.

Without the doubt of Representative Brady’s honesty and his desire to assist federal workers, it is usually believed that legislators may be misleading at times. Many representatives have voted against bills including senators, and they have been co-sponsors. Being co-sponsors on the WEP can’t be an assurance for any amendment made. A representative who co-sponsors such a bill like HR3934 can hold themselves out to the federal workers in their area. They don’t have to vote for or against the law, a trend that’s been in committee for long.

Let’s await legislation of the bill, which probably would be implemented to law.

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