Provide Immediate Economic Relief: Eliminating the Windfall Elimination Provision and the Government Pension Offset
is a vital step in ensuring that our middle-class seniors can enjoy continued economic security after their retirement.
These are (1) the government pension offset
(GPO) and (2) the windfall elimination provision (WEP).
* Under Government Pension Offset
, if Robby dies first, Nicole will be entitled to a widow's benefit of $400 ($1,000-$600).
Specifically, the new law closes the Government Pension Offset
loophole; requires public employers to disclose to newly hired employees that they are earning retirement benefits not covered by Social Security; and allows Louisiana and Kentucky the option to provide a divided retirement system.
This will reduce or possibly eliminate the survivor's Social Security benefit due to the Government Pension Offset
. In addition, if the deceased was contributing to an employer-provided retirement plan, these contributions need to be removed from the financial plan.
Another 300,000 public sector employees lose an average $3,600 a year because of its companion, the Government Pension Offset
The law becomes effective July 1, 2004.The Government Pension Offset
, or GPO, was intended to eliminate or significantly reduce survivor and spousal benefits for most retirees who collect pensions outside of the Social Security System.
The problem is a little-known government policy called the Government Pension Offset
, or GPO.
The Government Pension Offset
(GPO) exemption was enacted in 1977 to equalize the treatment of workers covered by Social Security and those with government pensions not covered by Social Security.
House Ways and Means Committee Chairman Charles Rangel (D-NY) wants a hearing on the Government Pension Offset
(GPO) and Windfall Elimination Provision (WEP), which cut or eliminate many educators' Social Security benefits.
At that time, legislation was enacted creating a Government Pension Offset
(GPO), to equalize the treatment of workers covered by Social Security and those with noncovered government pensions.
"Offsetting Priorities" (March) discusses the unfair law in place called the Windfall Elimination Provision (WED and the Government Pension Offset
(GPO) in effect in many states, including Minois.