Скачать или смотреть What Are Windfall Elimination Provision (WEP) And Government Pension Offset (GPO)?

What Are Windfall Elimination Provision (WEP) And Government Pension Offset (GPO)? In this informative video, we discuss the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), two important rules that can significantly impact your Social Security benefits. We’ll clarify how these provisions adjust benefits for individuals who receive pensions from jobs not covered by Social Security taxes. This information is particularly relevant for state and local government employees, such as teachers, firefighters, and police officers, who may be affected by these rules.

We will cover how the WEP modifies Social Security benefits to reflect non-covered pension earnings and explain the GPO's effect on spousal benefits for those receiving government pensions. Additionally, we’ll highlight the upcoming changes that will take effect in January 2025, which aim to eliminate both the WEP and GPO, restoring full Social Security benefits to millions of individuals.

Understanding these provisions is essential for effective retirement planning. If you’re looking to optimize your Social Security claiming strategies, this video will provide the information you need. Join us for this important discussion, and subscribe to our channel for more helpful content on banking, credit unions, and retirement planning.

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