The Social Security Fairness Act Explained

[@MichelValbrun]

What are your thoughts on the Social Security Fairness Act? Do you think it's fair or needs more changes? Let me know in the comments below! Also, don’t forget to like and subscribe for more videos breaking down key financial and tax topics.

[@fjai2755]

This is a restoration of benefits already earned. I paid into SS for 19 years in a low paying public service job. A the time I stopped paying into SS my SS benefit statement told me I'd receive X dollars at full retirement. 23 years later I took a teacher pension and paid into the teacher pension. I received my teacher pension. However, my earned SS was reduced by over 1/3 because of the teacher pension. Keep in mind that I had already earned the SS. Is the teacher pension cushy? No. I had to wait 3 years to get a 1% COLA. I had a number of years were my salary was frozen. And, when raises started to come, these were small.

[@MichelValbrun]

I appreciate you taking the time to explain your situation. Your perspective is valuable and can help others understand the challenges many face with Social Security and pensions.

[@Outlier2024]

I did the work, earned the QCs, and paid all the taxes. I should get all the money I earned.

[@MichelValbrun]

Absolutely! It's only fair that those who have contributed should receive what they’ve earned. It's a fundamental principle of a just system.

[@bd9968]

Thank you for educating and not just giving biased commentary. I worked 15 years in a State job and 20+ years under SS. I do not receive a full State pension because I worked less than 30 years, yet I am subject to WEP, so a portion of my SS is taken. My combined benefits are less than if I had only worked under one system. We are not "double dipping" - I worked under two different systems.

[@MichelValbrun]

I appreciate your insights! It's important to highlight the complexities of the system, especially for those who have worked across different jobs and systems. Your experience is a valuable addition to this conversation!

[@pillettadoinswartsh4974]

You are the only one explaining this, so that I can' understand it. Other sites are talking college level S.S. to kindergartners.

[@MichelValbrun]

I'm glad to hear that my explanation helped! It can definitely be confusing with all the jargon out there. If you have any more questions, feel free to ask!

[@skymaster9484]

Your not explaining the whole thing. The public employees still had to have paid into SS for ten years and then instead of a percentage of SS being deducted because of a public pension they will receive their full amount. If the public employee never paid into SS they will not qualify to receive any SS the ten-year rule still appies.

[@MichelValbrun]

Thank you for your insights! You're absolutely right; the ten-year rule is crucial for understanding how this act impacts public employees. It's a complex topic, and I appreciate you bringing up those important details!

[@annescibelli4700]

If someone both paid into SSA, say @ least 15 years (full time and part time work), that would have made them eligible for SSA, and then had a job for at least 10 years after them which would have made them eligible for a pension, why should that pension take away the ssa they also earned????

[@bigshoe84ify]

@@annescibelli4700You should receive the benefit you earned in that situation

[@zx9124]

@@annescibelli4700 As a direct result of having a non-covered public pension, WEP was created. “The fleas come with the dog.” Without that provision, your AIME is erroneously lowered, using your non-covered income. That lower AIME will now provide you a higher-than-intended benefits. Benefits acquired with a non-covered public pension, without some cost benefit analysis, are civically liable to make amends for those missing contributions “Get your money for nothin' and your chicks for free”

[@BluePittsley]

This means I can breathe just a little bit easier. I worked in the private sector for twenty years before moving to a thirty year career at a state university. I never understood the logic of the WEP/GPO. I earned retirement benefits in two completely separate periods of my life, why I wasn’t getting what I earned baffled me.

[@MichelValbrun]

It's great to hear that the Social Security Fairness Act brings you some relief! The complexities of WEP/GPO can be frustrating, and it's important to understand how these changes can impact your retirement benefits.

[@tommartin5667-dt7ny]

This only increased ss for people who paid into ss for at least 10 years

[@MichelValbrun]

Thank you for pointing that out! It's crucial to consider the specifics of how these changes affect various groups.

[@deedawson1320]

Can you please include the federal government CSRS WEP elimination. Will we get our offsets back too

[@MichelValbrun]

Thanks for your input! The CSRS WEP elimination is an important topic, and I’ll make sure to cover it in detail in future videos. Stay tuned!

[@akeleven]

​@@MichelValbrunI was in federal service under one system and then quit and returned under the other. So I had both CSRS and FERS service. Will that be affected?

[@CEO-xt8qc]

I worked from age 14 to age 39 in jobs where I paid into SS. At the same time, I went to college and finally graduated at 39 years old with my teaching degree. I got a job teaching at almost 40 years old. I worked 21 years teaching with a portion of my salary going into the teacher pension fund... no more SS coming out. I did not know at first that my SS for the 25 years I put into it, would be essentially taken away. So my teacher pension with a short career was low and my SS was cut so low that I had to go back to work. Especially with what has happened with inflation. I'm in the same boat as many retirees. 🤷‍♀️

[@MichelValbrun]

Thank you for sharing your story! It’s important to highlight the complexities of the Social Security system and how it affects individuals differently. Your experience sheds light on the challenges many face when navigating retirement planning.

[@johnphillips6286]

I retired in 2009 and had worked paying into SS but retired after working 10 yrs under a State retirement system, but still had an offset?

[@MichelValbrun]

Thank you for sharing your experience! The Social Security Fairness Act aims to address issues like offsets, and it’s important to understand how these changes could impact your benefits.

[@johnphillips6286]

Thanks I am still uncertain on what or if i will get a change in my SS amount it has taken from 2009 until now to finally get $1,054 month. I am 76 years old. I was a Police Officer for 10 years and prior also.

[@orlandovargas8069]

Worked for mental health hazards duty and I’m retired but now I’m spending a great portion of my income just on all my medical expenses from work related injuries I’ve been feeling like I’ve been shaken down by my own government for years. This is justice!!!!

[@MichelValbrun]

Thank you for sharing your experience. Your bravery in speaking out about these challenges is crucial for raising awareness and pushing for change.

[@DanielSanchez-qk6nc]

What happened to the $200 thats was offerd 4 yr ago and Y ssi,ssdi is not getting the just pass Y???

[@MichelValbrun]

Great question! There was a proposal from 2020, part of the Social Security 2100 Act, suggested a $200 per month increase for Social Security, SSI, and other beneficiaries during the COVID-19 pandemic. However, this proposal was never implemented.

[@katherinewagner987]

They should of put this in the bill they left us out again.

[@hightops6440]

Sis should not get anything, it’s just glorified welfare.

[@Outlier2024]

Carter started it with the Government Pension Offset in 1977. The 1983 WEP law made it worse.

[@MichelValbrun]

Thank you for sharing this important context! It really helps highlight how the Social Security Fairness Act seeks to address these longstanding issues.

[@polytheneprentiss1534]

6:39 thank you so much for bringing this up! The fairness act is great news, but it definitely worries me - the sustainability of it all. Hopefully this is gonna help stimulate the economy. And no surprise that the WEP was passed during the Reagan administration lol

[@MichelValbrun]

I appreciate your thoughts! The sustainability of such acts is always a concern, and it's crucial to keep discussing these important topics.

[@akeleven]

When will the change be reflected on our social security statement? How do we find out we are covered.

[@MichelValbrun]

Changes to social security statements can take some time to reflect, but you should keep an eye on official announcements for updates. You can check your coverage details by visiting the Social Security Administration's website or contacting them directly.

[@debbiehird2814]

Are family and children service workers included in the fairness act????

[@MichelValbrun]

Great question! Yes, the Social Security Fairness Act primarily focuses on addressing issues related to the Windfall Elimination Provision and Government Pension Offset which can impact families of the service workers. It's important to check with the SSA to discuss specifics

[@debbiehird2814]

Is that a yes?

[@debbiehird2814]

@ ok thanks

[@Outlier2024]

The GPO offset reduced my Social Security benefits by 40%. It all started with an inaccurate article in Newsweek in 1977. It’s not like I will get a fortune from SSA.

[@MichelValbrun]

I'm sorry to hear that you've had such a tough experience with the GPO offset. It’s frustrating when policies impact our benefits in unexpected ways. Thank you for sharing your story!

[@MA-tz4qq]

People who worked in government jobs and had to pay SS too already get less SS when retired, so why would they deduct some SS cause they also have pension???

[@MichelValbrun]

You raise a valid point! At the time, they believed it was "double dipping" but it seems like that have changed their minds with the Social Security Fairness Act being signed today

[@DIAMONDGIRL57]

Took money from me over forty years to discover Social Security will reduce what’s owed to me up to 40%. Worked in both private and public sectors.

[@debk6598]

I went into teaching late and already paid into SS. They still docked my SS due to WEP

[@GerardoRangel-fh4uh]

I receive 2300 from my pension and because of that pension my SS benefit is 336, what should I get when they recalculate my SS without WEP?

[@pamm99]

What ever amount they reduced your benefit when you first claimed SS.

[@MichelValbrun]

It sounds like you're navigating a complex situation with your benefits. The recalculation can vary based on specific factors, so it might be helpful to consult with a financial advisor or the Social Security Administration for personalized guidance.

[@MichelValbrun]

Thanks for sharing

[@Linda-h1f3e]

What about seniors already on SS?

[@MichelValbrun]

That's a great question! The Social Security Fairness Act aims to address future beneficiaries, but it's important to consider how it impacts current seniors as well. I'll look into it and provide more details!

[@mikewarren5004]

The payroll deduction needs to be increased by approx. 2% over the next few years and earnings cap eliminated to help preserve the program's solvency.

[@MichelValbrun]

You raise a very valid point! Adjusting the payroll deduction and addressing the earnings cap could indeed play a significant role in ensuring the long-term sustainability of Social Security.

[@mikewarren5004]

@@MichelValbrun Social Security is a generational trust that should be maintained to serve all those eligible for benefits. Tinkering with age requirements is a lazy bandaid.

[@jacoll2263]

Two question regarding the SSFA. A person worked 25 years as a state worker and paid no FICA would they be entitled to SS benefits? A person worked 15 years as a state worker and paid no FICA; however, they also worked 20 years and paid FICA would they be entitled to SS benefits?

[@Satjr35031]

Yes

[@MichelValbrun]

Thank you for your questions! The Social Security Fairness Act can be quite complex, but generally, if a person hasn't paid FICA taxes, they may not be eligible for Social Security benefits based on that work. However, working and paying FICA can qualify individuals for benefits, even if they also worked as a state worker. It’s always best to consult with the Social Security Administration for personalized information.

[@DavidTaylor-d9h]

I worked for the federal government for 30 years I retired in 1997, I did not pay SS while working for the government.I then went to work in the private sector and paid into SS until I turned 62 and signed up for SS. At that time they told me that they were keeping 60% and I would only get 40%. Do I qualify for full benefits under this new law?

[@skymaster9484]

Yes you should get full I assume because didn't this bill he just signed reverse the WEP?

[@MichelValbrun]

Thank you for sharing your experience! The Social Security Fairness Act aims to address issues like the one you mentioned, but eligibility can be complex. It might be best to consult with a financial advisor or the Social Security Administration for personalized guidance.

[@MichelValbrun]

Thank you for sharing

[@Satjr35031]

No because it’s not for Federal it’s public sector Teachers ,school workers ,police ,firelighters EMT etc.

[@skymaster9484]

@Satjr35031 it's for government workers ie state and federal if they qualify if they deducted 60% of his SS then he must be on the WEP system.

[@timothywhitt8517]

I work as a teacher, I'm receiving a pension, if I continue to work as a teacher will the new Bill continue to limit the amount of money I make before full retirement?

[@MichelValbrun]

Great question! The Social Security Fairness Act aims to address how pensions affect Social Security benefits, but the exact impact on your income would depend on various factors. It’s always a good idea to consult with the Social Security Administration for personalized advice.

[@Po1itica11yNcorrect]

I was just two Substantial Earnings years away from the WEP not affecting me anyway, because I paid 42 years into Social Security (doesn't matter with the WEP), but 28 of those years I had Substantial Earnings in Social Security-taxed income (does matter with the WEP).

[@MichelValbrun]

It sounds like you've put in a lot of hard work over the years! The WEP can be really frustrating for those who've contributed so much. Thanks for sharing your experience!

[@Po1itica11yNcorrect]

@MichelValbrun Thanks. Two full time jobs simultaneously for the past 31 years. One public sector and one private sector.

[@johnbunalski2414]

I was also denied an increase of my SS because my ex wife's SS is greater than mine. This was also because I get a Police & Fireman's Pension through the State of NJ. Will that be reversed also???

[@MichelValbrun]

I'm sorry to hear about your situation. The rules around Social Security and pensions can be quite complicated. It’s best to consult with a financial advisor or the Social Security Administration for clarification on your specific case.

[@elliottgarner7135]

With all due respect, almost everyone affected by WEP and GPO has a very good knowledge of what you initially described, however, what is totally confusing to a larger extent are the various intricacies in the breakdown of these enhanced benefits. As a CPA, (there are four in my family) I would like you to expand on some of the complexities of WEP as opposed to the history and politics of the repeal of H.R. 82. The GPO repeal is far more simple and straight-forward; the WEP repeal is somewhat more complicated and most KZbin presenters often don't provide more detail into this topic.

[@MichelValbrun]

I really appreciate your feedback! It's great to hear from someone with your background. I’ll definitely aim to provide a more detailed breakdown of WEP in my upcoming content.

[@cherfromtn8225]

The Explanation of the WEP is on the SSA.gov web site. It is still confusing. I am glad they repealed it. A WEP may be needed, but this one-size-fits-all formula was unfair to many. A good overview of the WEP is at The Congressional Research Service at crsreports.congress.gov The title is "Social Security: The Windfall Elimination Provision (WEP)" It was Report 98-35. (Updated Feb 28, 2024). I don't know if this is useful to you or not.

[@tommartin5667-dt7ny]

WEP reduced my ss by 60%

[@MichelValbrun]

I'm sorry to hear that the WEP impacted your benefits so significantly. It's a complex issue, and it's important to continue advocating for changes that promote fairness in Social Security.

[@eyeeluna6684]

I was surprised it also applied to my disability, I didn't know I had no state disability but was paying into private disability insurance which was awfully hard to get benefits. I paid into Social Security and then got a teaching job and paid into Calpars . So will this also affect my social security disability benefits ?

[@MichelValbrun]

It's definitely a complex situation! The Social Security Fairness Act aims to improve benefits for many, but the specifics can vary based on your individual circumstances. It's always a good idea to consult with a financial advisor or the Social Security Administration for clarity on how it might impact your benefits.

[@triciagann1996]

If a retired teacher with a state pension retires and then reaches SS retirement age can they now also get spousal SS benefit on living spouses SS. ( The spouse is already receiving SS)?

[@MichelValbrun]

That's a great question! Generally, if a retired teacher qualifies for Social Security benefits through their spouse, they may be eligible for spousal benefits, but it can depend on various factors. It's best to check with the Social Security Administration for specific eligibility details.

[@lindameyer3850]

All I will get is a 3.2 percent this month and thsts it. I will wait and see if it goes into my account

[@MichelValbrun]

Thank you for sharing your thoughts! Every bit helps, and I hope you see that payment reflected soon.

[@MsJoanne2008]

I was married and divorced after 15 years. When I went to apply for my social security I was told since I had been married that I would qualify for my part of my ex’s SSB. Then she deflated my happiness by saying because of the Government Pension Offset I would have to take my part of his SSB or my pension. My pension was more. I was a federal worker. Does this repeal affect me also? It would make a great difference for my family and I.

[@MichelValbrun]

Thank you for sharing your experience! The Government Pension Offset can be quite complicated, and it's important to stay informed about any changes. The Social Security Fairness Act aims to address some of these issues, so it could potentially benefit individuals in your situation.

[@dannyrobinson985]

I am but it's not for every state.

[@MichelValbrun]

You're right! The Social Security Fairness Act can vary quite a bit depending on where you live. It's important to stay informed about your state's specific policies.

[@sandramurkerson9041]

What about seniors on SS....or disability???

[@MichelValbrun]

Great question! The Social Security Fairness Act does aim to address concerns for seniors and those on disability, ensuring they receive the support they need.

[@michaelthompson4949]

Government worker and hardship in the same sentence?

[@MichelValbrun]

It's definitely a complex issue! Many government workers face challenges that might not be immediately apparent.

[@michaelthompson4949]

@MichelValbrun it seems to come down to our interpretation of hardship. What can be said (with confidence) is that it's doubtful that any government employee can relate to living on less than $500 a month.

[@michaelthompson4949]

​@@MichelValbrunabsolutely, most if not all people do. The issue at hand is in regards to finances.

[@elakay4397]

I'm sorry but I dont see this as fair to be calling it ss fairness act. We ALL are, we're public workers!

[@MichelValbrun]

Thank you for sharing your thoughts! It's crucial to hear from everyone, especially those who are public workers, as their experiences shape the conversation.

[@Inventors_Toolbox]

Great, social security was due to run out of money in something like 8-10yrs unless congress passes a big tax hike or benefit cut. So instead they pass a big benefit increase to win some votes. Now what?? I guess social security will collapse in 6-8yrs instead?? Those extra payments come at the expense of everyone whose been paying in but won't be able to collect because there will be nothing left. People currently getting benefits are receiving way more money than they ever payed in bankrupting they system. This will necessitate an even bigger tax hike or benefit cut in a few years. What a great plan.

[@mr.d352]

IF DONALD TRUMP, BIG BUSINESS AND THOSE RICH PEOPLE PAY THEIR FAIR SHARE OF TAXES, THIS WOULDN'T BE A PROBLEM. 🤑

[@MichelValbrun]

You’ve raised some valid concerns about the sustainability of Social Security. It’s definitely a complex issue that requires careful consideration from lawmakers to ensure the system can support future generations.

[@skipd9164]

I worked for over 25yrs before becoming permanently disabled and luckily most of my work history had great pay. I remember going into local SSI office to apply for benefit feeling bad. Never needed help but now broke. I got called and went back for intake and I got the opinion I was just another person wanting a free ride. Upon giving my critical information the woman doing intake did a double take and smiled. I thought how could this get any worse I'm getting denied but no. She asked me if I had any idea of my benefit and I said no. She said I paid maximum for my last 40 quarters and even before that. Your entitled to maximum amount upon verification of disability. I'm actually glad I finally had someone that earned their benefit and maximum amount. Her attitude completely changed and that's when I told her my sister worked in this office over a decade ago and we talked. It's been over 20yrs and my benefit in relation to minimum wage has shrunk. Is there an increase coming for others. Also I have a younger brother that lost his city job and any retirement plan and is broke. He was refused social security because he use to work for city government. Can he now reapply because he did have a history before city job

[@MichelValbrun]

Thank you for sharing your experience! It's important to highlight how the system can sometimes overlook those who truly need assistance. Regarding your brother's situation, it's best for him to consult with a Social Security representative to understand his options for reapplying.

[@jackieb4516]

You are not explaining the earned SS credits correctly. We earned and deserved full payment, plus our earned pension.

[@MichelValbrun]

I appreciate your feedback! It’s crucial to clarify how earned SS credits work. Let’s dive deeper into the topic to ensure everyone has a clear understanding.

[@orlandovargas8069]

Just put the check in the mail

[@MichelValbrun]

I hear you! Direct mail is always a straightforward option, isn’t it?

[@kenmartin1919]

It’s the contribution amount and years worked plus 0 years. These people people that did 20/20 paid vs didn’t paid didn’t get a proper % of return from SS vs others. I did 32 years SS and 10.5 years non covered (state safety service). I only have 3 zero years. They say my contributions vs payment is fair. Those who did 30+ years public work &!didn’t pay SS get it. The people that did close to 50/50 of one vs the other got boned. The less than 50/50 years worked are valued less and less severally. Do the math. I get it.

[@MichelValbrun]

Thank you for sharing your experience! It’s definitely a complex issue, and it's important to consider how varying work histories impact Social Security benefits. Your insights add to the conversation!

[@suburbohemian]

I paid into to the system and am eligible for SS tho not for several more years for 'full' benefit allowed. I'm hoping that there will be money when *I* need it. I'm told that to afford this 'fairness act' they will be chopping my benefit...where's the fair in that? I'm not begrudging these people;my dad was a career cop tho he died from cancer at 48 so never made it to retirement. I'm just scared I'll be in trouble. :/

[@MichelValbrun]

Thank you for sharing your story. It’s important to highlight the real-life impacts of these policies. Your experience brings a valuable perspective to this discussion.

[@muddyriver1235]

So whatstates are not affected?

[@MichelValbrun]

Great question! The states not affected by the Social Security Fairness Act primarily include those that don’t have specific pension offsets. It’s important to check the latest updates, as policies can change.

[@pamelamccoy5342]

I taught in New York and social security was taken out. However, I moved to California and no social security was taken out so different states have different rules. I was affected by WEP because of my California pension.

[@mikehocking4836]

Whocares it's only for public servants cause I guess there jobs only matter nobodys job is above another's they get 2 incomes I get 1 1368 month after working 47 hard labor years ITS THE UNFAIRNESS ACT everyone should be included

[@MichelValbrun]

Thank you for sharing your thoughts! It’s essential to have these discussions so we can work toward a more equitable system for all workers.

[@preppingforendtimessurviva6326]

Sorry for your self , life choices matter no one’s job is better than another’s. I agree with you on this. However, we paid into both SSand pensions but our SS WE paid into was reduced significantly. We earned our Money and deserve it back. Some people have gone decades being penalized . That’s unfair.

[@lindabruce9483]

I am a benefits survivor. My Husband worked for the City does it qualify?

[@MichelValbrun]

It's great that you're seeking clarity on this! It's possible, but the eligibility can depend on various factors, including the type of work and contributions made. It might be best to consult with the Social Security Administration or a benefits advisor for specific guidance

[@brandyramos9372]

I believe in fairness, get ssi if you paid into it. 😮

[@MichelValbrun]

I appreciate your thoughts on this! Fairness is definitely a crucial aspect of the Social Security system.

[@lindameyer3850]

I worked for the state for 16 years but I bet I don't get squat

[@MichelValbrun]

Thank you for sharing your experience! It's important to highlight these concerns so we can work towards better solutions for everyone.

[@tinayoung6929]

How does this work for a labor worker, maid, painter, a restaurant server, office clerk, street cleaner, parts person, store clerk, mechanic, window cleaner etc… this is bullcrap, this should be applied across the board to all Americans who have worked all their lives and paid into the system…the poor stay poor. 😢 (Here’s one, we all are public workers.) Sooo, maybe we should be getting a monthly pension check too.

[@MichelValbrun]

You raise a valid point! The Social Security Fairness Act aims to address disparities, but it’s crucial that all hardworking individuals, regardless of their profession, receive fair treatment and benefits. Let's hope for more comprehensive reforms in the future!

[@annescibelli4700]

It doesn’t affect you because you didn’t lose benefits because of a retirement account. That’s SSA, they want to make sure no one gets too much

[@tinayoung6929]

@@MichelValbrun, The key word here is that we have to “hope” while others get, it’s all sad. 😞

[@billyakin3301]

3% of Social Security recipients, and you guy's act like it affects ALL of us. Why is that?

[@MichelValbrun]

It’s important to look at how different aspects of the Social Security system impact various groups. Everyone’s situation is unique!

[@aletakey3600]

What about Federal employees who paid into a Federal pension but not into SS? Do they get more?

[@MichelValbrun]

Great question! Federal employees have a different system when it comes to pensions and Social Security. It really depends on their specific situation and the rules governing their pension.

[@pamm99]

If you didn’t pay into SS, I don’t see how you would get this, as it restores the amount of SS that was reduced from your benefit.

[@aletakey3600]

I have a friend that was Civil Service with a federal pension who did not pay into SS. Her husband paid into social security. Husband passed away years ago. While she worked she received his SS. As soon as she retired & got her pension she was no longer allowed to get husbands SS. Will she now get his SS?

[@pamm99]

@ yes, she will!

[@pinupgirl1949]

🙏

[@MichelValbrun]

🙏🏿

[@ynot7119]

Damn all the scuttle butt when will we see the money.Day and time please😮

[@MichelValbrun]

Thank you for your comment! I appreciate your interest in the Social Security Fairness Act and will keep everyone updated as more information becomes available.

[@Jrcowboys]

Hello Michael, I receive a state pension. I also had a very part time job for 30 years and managed to earn the 40 quarters needed. I haven’t applied for S. Security but when looking at my SSN benefits, it says qualify for $466.00. Now that the WEP has been repealed, does that amount go up, down or stay the same?

[@krg038]

@@Jrcowboys for those with a state or federal pension social security payout was reduced. This bill repeals that reduction. State system is a pension.. Explained in the video. Your social security was reduced 2/3 of your state pension amount. Also the repeal is retroactive back to January 2024

[@MichelValbrun]

Hi there! Based on what you shared, the repeal of the WEP could make that amount go up. It might be a good idea to reach out to the Social Security Administration to be sure

[@todddunn945]

Based on what you said, the WEP would have reduced your benefit. The reduction takes the form of reducing the multiplier used to calculate your benefit from 0.9 to 0.4. So you can make a first guess estimate what your benefit without WEP will be by dividing your current benefit by 0.4 and multiplying the result by 0.9. So ($466/0.4) x 0.9 = $1,048.50. That will give you a ball park number. To get the exact number you need to back calculate your current benefit to what you got the first year you received Social Security by applying the COLAs in reverse. Once you have done that divide the result by 0.4 and multiply by 0.9 then calculate your current benefit by applying the COLAs from when you got your social security up to now. If you have your social security records you can simply use your monthly benefit from the first year you received social security for the calculation and then propagate it forward to the present by applying the COLAS. The historic COLAS are available on the social security web site.

[@todddunn945]

@@krg038 You are talking about the Government Pension Offset which only applies to spousal and survivor benefits. The WEP is what was used to reduce your base benefit.

[@Jrcowboys]

@@krg038 Thanks for the response. Correct me if I’m wrong, but if the $466 .00 I mentioned in my post is being reduced by 2/3, does that mean it should now be closer to the $1200.00 range?

[@sandyfields678]

Never mind,.catch u 😮later

[@MichelValbrun]

Thank you for stopping by! I appreciate you taking the time to check out the video, and hope to see you again soon!

[@RobertHniedziejko]

I m Fed retire n collect security.do get my full security

[@MichelValbrun]

The Social Security Fairness Act aims to ensure that everyone gets the benefits they deserve, so it's great that you're looking into how it affects your situation! I recommend checking with the Social Security Administration

[@Satjr35031]

I would say No since your getting a fed pension not a public pension

[@shadowofpain8144]

Made it so the best we're not lining up for those jobs. Then you complain how bad government is. Hopefully this fixes it even a little bit. I have found in life you get there bit by bit nothing good comes easy.

[@MichelValbrun]

Absolutely, change often comes gradually, and every step counts. It's important to stay hopeful and engaged in the process!

[@mikeroy9316]

The title should read " Social Security increase for retired public servants" - my question is simple who pays for this - if it comes from printing more money, 116 billion is a huge windfall - for the millions of seniors like myself who received 2.9 percent increase when inflation by every metric was 9 percent plus are falling further behind - we're not receiving a windfall on top of a pension - it's a 1983 law that didn't need to be repealed.

[@MichelValbrun]

You raise some important points about the funding sources and the implications of the Social Security Fairness Act. It's definitely a complex issue that affects many people, and it's crucial to have these discussions to understand the broader impact.

[@lindanorris2455]

si=o this is ONLY for PUBLIC SERVANTS AND NOT FOR ANYOUTSIDDE OF THOSE INDUSTRIES? I GET IT NOW? PEOPLE LOSE AGAIN!

[@MichelValbrun]

I understand your frustration! The Social Security Fairness Act primarily affects public servants, but it's important to stay informed about how these changes can impact everyone.

[@Talos215]

Yeah everyone else will get squat😮

[@MichelValbrun]

It's definitely a complex issue, and many people feel that way about the current system. It's important to keep discussing these topics to advocate for change!

[@sandyfields678]

Mouthing is not actual w..fix it pls..😮words

[@MichelValbrun]

I appreciate your feedback! I'll make sure to improve the clarity in future videos.

[@whynotcnc8828]

then cancel private retirement plans,

[@MichelValbrun]

That's an interesting perspective! The balance between public and private retirement plans is definitely a complex issue worth discussing.

[@pjhaugh4268]

It’s BS

[@MichelValbrun]

BS? Well, that's one way to cut through the political jargon! Care to elaborate on your thoughts?

[@crow1994-bl]

Why do teachers, firefighters, and law enforcement get an increase and these perks but not everyone? They already have enough perks. By the comments, everyone is happy about it. Nothing like getting FREE MONEY to make one happy.

[@MichelValbrun]

It's definitely a complex issue with a lot of history. Different professions often have unique benefits based on their roles and challenges.

[@TheBuddydog111]

Is getting getting back what I paid into ss for 25 years FREE MONEY

[@Imold774]

@crow1994-bl “Free money”. Many people worked in the private sector and paid into social security prior to or after working a government job. During that time if the person earned 40 work credits they qualified for social security benefits…. With this new law Pres Biden signed….those individuals can collect their full social security benefits without being reduced. Also they collected their pension because they earned that too.

[@cherfromtn8225]

Many public service workers were not high wage earners and do not get high pensions. Think school secretaries, bus drivers, cafeteria workers, police dispatchers and more. Many teachers split their careers between private jobs and public jobs and also do not have big pensions. Those who are low income should qualify for the percentage of SS benefits for low wage people. The WEP withheld too much of a person's benefits in.many cases. It was a flawed formula. I am also confused about what other benefits you think public service workers get. In Texas, workers can opt into a Medicare Advantage plan--just like you can buy one. They pay the premium f for Medicare Part B as well as well as a monthly premium. The state does not pay health insurance for them Salaries and benefits vary widely by state. Teachers might get time off in the summer, but they often work past 7 or 8 pm each night preparing lesson plans for the next day. If you walk into a class of kids with a poor lesson plan, these kids will eat you alive. If you have never taught and think it is easy, you might want to substitute teach. These "benefits" are counter balanced by other negative factors.

[@cherfromtn8225]

One other thing, people in this situation had TOO MUCH of their SS benefits in many cases. It is NOT free money. It was money they paid into SS for, but the WEP formula reduced their monthly amount. Here is an actual case. A school bus driver git a $600 pension. She had also worked in a private job and was supposed to get $600 from SS. However, the WEP treated her like a high-income worker and reduced her SS benefit to $300 a month. Wep Repeal gives her this money back. It is not free money. It is money she paid into SS.

[@slawomirkacprzak6249]

Just say shortly how we will have extra $ token to our pocket to pay bills and medicine 💊 not to much B/S

[@MichelValbrun]

Thank you for your comment! It's important to discuss how this act can truly make a difference in people's everyday lives.

[@eliju-io2mw]

I don't think you have no idea what you're talking about, let me see if I break it down to you in Washington DC, I know family member, that is about to retire, I'm not going to tell you what kind of work the person does, but as soon as that family member retire the pension is over 8,000 a month, and top of that family member is getting $2,800 a month, from the military this is over 10,000 a month, maybe other people getting paid less, but I know this person is getting that kind of money because it's a family member, 👍

[@MichelValbrun]

I appreciate your perspective! It's important to consider various experiences and viewpoints when discussing topics like the Social Security Fairness Act. Everyone's situation is unique, and it’s great that you have personal insight into it.

[@eliju-io2mw]

Well you know what they say when people believe in the fake media,they've lost their minds, I've been following the fake media for 45 years and everything they say is the opposite

[@Satjr35031]

So your problem is you are jealous