Cops, Fire Fighters, Teachers, etc. - Social Security - WEP/GPO Repeal.

[whiteworks]

A friend of mine worked private sector, has $500k stashed in retirement account, half the funding was matched from employer, due to other wise investments in RE, there will be a 50% tax on the retirement account.

That’s a decade of in-home health care funding vanishing. Better off spending every penny and then shooting yourself when it’s gone

 

[kurtis500]

This isn't for people who didn't pay anything into SS. It's for those, like me, who paid into SS for 1/2 my adult life, but the SS I paid for and am entitled to, has been cut by almost 2/3. If I never worked at the Public Retirement job, and got SS based only on the jobs I paid into SS, I would have received around $850 a month. But ONLY because I worked at a career that DIDN'T pay into SS, my EARNED SS payment was cut to $350.

We don't want want anything more than we earned, paid into and deserve.

Are you on Arizona PSPRS? I am. Also paid 9 years in to SS before moving to the state pension. I never looked in to what the SS looked like in the future.

 

[FreeBird236]

Once it is signed, do we know when it will go into effect also, I believe I read it will be retroactive to Dec 2023

I can't seem to find much of anything on when it might start, one article did say something about Nov, of 2025.

 

[shockwave714]

I can't seem to find much of anything on when it might start, one article did say something about Nov, of 2025.

I read something that they’re going to backpay us for 2024

 

[BoatCop]

Are you on Arizona PSPRS? I am. Also paid 9 years in to SS before moving to the state pension. I never looked in to what the SS looked like in the future.

Yes. I retired under AZ PSPRS, Tier one. (defined benefit). Prior to that I had paid into SS for other full time jobs from '73 to '89, along with some part time stuff (CG Reserve, Off Duty gigs, etc), until I retired, so had sufficient "time in" to also collect SS.

You need a total of 40 "credits" throughout your lifetime. You can get 4 credits per year that you, and employer(s), paid into. For 2025, $1,810 in earnings equal 1 credit. You would need $7,240 in earnings to get all 4 credits for a year. Those numbers would be lower for previous years (ie $1,730 in 2024 - $920 in 2005)

If you only worked in SS paying employment for 9 years, you wouldn't qualify. You would need at least 1 more year with qualifying credits in order to collect SS payments when you retire. I would recommend signing up on the SSA website and opening an account. There you can find out exactly how much you earned in all those years and whether you currently are eligible to even collect SS. If not, you might want to consider getting another job, now (part time) or after you retire/leave your LE career. Keep in mind, you don't have to actually work the ENTIRE year to gain 4 credits. You could earn the $7,240 in one fell swoop and get the necessary minimum credits, as long as you and your employer paid into SS. Self employment qualifies, but you would have to pay both the employee AND employer amounts, yourself. If not, and you stick with only the 9 years you have now, you'll get ZILCH.

 

[Sharky]

I read something that they’re going to backpay us for 2024

Correct. Tax year 2023

 

[BoatCop]

I read something that they’re going to backpay us for 2024

Correct. Tax year 2023

I read where it's retroactive all the way back to January 2024.

 

[havasujeeper]

Retro for 12 months. Although the prez has yet to sign the bill, social security is sending out notices saying if you currently get SS, then they will file for you and send you the retro pay, provided your address is correct.

The Social Security Administration, in anticipation of HR 82 being signed into law has released the following information.

The Social Security Fairness act, HR 82, concerning Windfall Elimination Program and Government Pension Offset, eliminates the reduction of Social Security benefits while entitled to public pensions. At this time, the Social Security Administration is evaluating the law and how to implement it. We will provide more information on our website, ssa.gov as soon as it is available. If you are already entitled, you do not need to take any action at this time except to verify that we have your current mailing address and direct deposit information. If you are receiving a public pension and are now interested in filing for benefits, you may file online at ssa.gov or schedule an appointment.

 

[Javajoe]

My wife retired from the Ca. Court system and gets CALPERS pension as well as a good chunk of SS. Pretty nice.
My sister retired from the UC system and never paid into SS.
I still got 7 years to go. She retired 6 years ago

 

[shockwave714]

Biden Likely to Sign Social Security Fairness Act on Jan. 6

Both Biden and Trump support the bill, the National Fraternal Order of Police says.

www.thinkadvisor.com

 

[BoatCop]

I found a cool site that will let you know what your SS payment will be, when you retire/reach SS retirement age. You first have to establish an account with SSA on their website (www.ssa.gov). Then copy and paste your earnings into the site below (no personal info needed except birth date, but you can fudge that for day and month, since all they need is the year you were born) It will ask for estimated future earnings, if you're still working, but if you're NOT and don't plan to keep working, the result is spot on. The site will tell you what your SS benefit payment will be when you do file. It also gives scenarios for whether you file at earliest opportunity (age 62), normal retirement age (varies, depending on year born), or maximum age (70).

Any deductions for WEP are NOT included in the results.

SOOOO, I plugged all my info in and showed me that my SS payment will increase from the current WEP deducted $443 to $800.

Social Security Work Credits | SSA.tools

How do work credits work and how many do I need to qualify for Social Security benefits?

ssa.tools

 

[TPC]

Biden signs Social Security Fairness Act into law​

President Biden Signs Social Security Fairness Act

President Biden signs the Social Security Fairness Act at the White House.

www.c-span.org

 

[Sharky]

HOLY CRAP!!

That fucking knuckle head finally did something that I can appreciate.

Just retired 5 days ago. This is going to be almost a $2000 a month raise for me.

I'll be making more retired than working.


Think I'll swing by the Chevy dealer tomorrow. Trade that Bolt in on a Z06

 

[BoatCop]

HOLY CRAP!!

That fucking knuckle head finally did something that I can appreciate.

Just retired 5 days ago. This is going to be almost a $2000 a month raise for me.

I'll be making more retired than working.


Think I'll swing by the Chevy dealer tomorrow. Trade that Bolt in on a Z06

I'm taking the lump sum, retroactive from the last 12 months, and paying off my '19 Silverado. That, plus the extra in SS every month, will cover the new Yukon payment.

 

[shockwave714]

Probably going to take them forever to get us our back payment and readjust our monthly payment.

 

[Sharky]

Probably going to take them forever to get us our back payment and readjust our monthly payment.

Look at the bright side. . . you, I, and a lot of us have been or were going to get screwed.

This is a huge win for all of us that have worked both sides of public/private employment.


Bout God damn time I get something back I paid into. Its my fucking money I worked damn hard for and was taken from me.

Tired of seeing it go to worthless pieces of shit streaming in across our southern border. And fucking politicians spending it on endless wars in sand boxes in the middle east and some comedian who runs a country (extortion outfit) called Ukraine.

It's a good day to be a cranky old Boomer. Now, get off my fucking lawn. Because now, I can afford the ammo.

 

[TPC]

HOLY CRAP!!

That fucking knuckle head finally did something that I can appreciate.

Just retired 5 days ago. This is going to be almost a $2000 a month raise for me.

I'll be making more retired than working.


Think I'll swing by the Chevy dealer tomorrow. Trade that Bolt in on a Z06

Me too. Going to be nice with the wife retiring next week.

 

[Sharky]

Me too. Going to be nice with the wife retiring next week.

Congrats to your wife!!!!

2025 is looking good so far.

 

[havasujeeper]

I watched it live today on CSPAN. Crunching numbers today, I have lost $92,000 because of this unfair bullshit. Yeah, I'm estatic!

 

[TPC]

Trump talking up removing the income tax from Social security as well.

 

[4Waters]

Maybe we will start paying into it now

 

[BabyRay]

Another bonus for retirees; Medicare’s new Part D $2,000 limit on out-of-pocket drug expenses has kicked in with the New Year. It will save my wife and I thousands of dollars!

And our IRMMA is lower this year, so we’re feeling like hogs in slop! We even gained a little beer money with lower supplement plan premiums, so it was a triple win.

 

[hallett3]

I’ve read in some articles that increases start on December 2025, and the back pay is for the year of 2024. Is this true ? Anyone know the real answer to this ?

 

[TPC]

I’ve read in some articles that increases start on December 2025, and the back pay is for the year of 2024. Is this true ? Anyone know the real answer to this ?

Yes.
Boatcop will freshen up his rolling stock, mine going on the Hard 8 at Binions.

 

[BoatCop]

I’ve read in some articles that increases start on December 2025, and the back pay is for the year of 2024. Is this true ? Anyone know the real answer to this ?

The increases are retroactive to January 2024, The only thing delaying getting back, and current, payments are whatever programming is needed to the system. With Pedo Joe's signature yesterday, the WEP and GPO are toast, they no longer exist. It will be interesting to see exactly how long it will take to correct the payments, but I DO know that it takes from anywhere from 1-3 months for the SSA to process changes, such as tax withholding, direct deposit, etc. depending on how the request submission lines up with the particular payment date. Mine and wife's SS deposit on the 3rd Wednesday, so the 15th this month. I'll chime in when the payment drops to see if they got it changed or not.

It does seem that the SSA is on top of it, even having a dedicated page to the WEP/GPO issue, updated this morning.

Social Security Fairness Act: Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) update | SSA

Social Security Fairness Act: Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) update

www.ssa.gov

 

[Orange Juice]

This appears (looking from the outside), more quantitative easing, to dump larger amounts of funds into the economy.

I’d love to be on the receiving end of this package, later in life, but here we are again, I won’t benefit a dime.

I recently dumped a couple grand into DOGE at .32.

Maybe I can win some of this stimulus in Crypto .

 

[BoatCop]

My January SS payment dropped. The WEP increase was NOT in it, which was expected, as it will take some time to program everything in. (It IS the Federal Government, after all).

 

[BoatCop]

It is the Talk of the Town Right Now !
Looking Back from my youth / if I took the same funds and Established a money Market account / 50 years later I am living in Malibu
with a great income from PERS after 30 years of service with the FD......

Social Security is a Ponzi Scheme !

Well, this post didn't age well.

 

[PRIMO]

Well, this post didn't age well.

I lived in Malibu Late 70's / 80's.... Always Looked Forward to Goin Back !
They will Have The 15 Minute City Just in Time For The Olympics.....,

 

[TPC]

Friends paid for their Retail Clerks pension,, and collected Social Security, friends paid into the UAW pensions and still collected Social Security,, I paid into my LADWP pension and it was a shock when Social Security called me and told me they are keeping the majority of it.

My LADWP pension deduction was the biggest deduction on my checks including State and local taxes.
Put up with an empty paycheck for 36 years.

I know guys that believe because we have a good pension we deserve to get fucked. In spite that we paid for it with an empty paycheck.
Friends joined the CHP when it paid peanuts. They considered the bennies in their decision, not knowing they pay for those bennies. Then get screwed on SS? Nahh, this is truly fair.

 

[hallett3]

Looks like the check will be coming sooner than expected:. Will see ?https://www.cbsnews.com/news/social-security-payment-fairness-act-2025/

 

[zbudman]

Got my email yesterday......now, what should I buy???

 

[TPC]

Just got my Email from Social Security.
SS said it will be deployed and dispersed starting this week, and to stand-by it'll be stretched out and take time to cover everyone, and yes I am qualified.

 

[TPC]

Got my email yesterday......now, what should I buy???

,,,,, all on the red at the Wynn.

Banking and saving ours.
Wife has a deposit on a Dog & Grand Daughter hauling Scout.
Should have enough saved by the time it rolls off the line in South Carolina:

 

[havasujeeper]

Ka Ching for me as well!

 

[bilz]

I need 12 quarters to qualify. I didn't make much prior to going to the city.
I need to see what it would be if I made up these 12 quarters.
I'm enjoying my pension.
Colud always use more.

 

[hallett3]

I need 12 quarters to qualify. I didn't make much prior to going to the city.
I need to see what it would be if I made up these 12 quarters.
I'm enjoying my pension.
Colud always use more.

I was in the same situation as you. Was about 12 quarters short. Did a part time job and hours of 24 to 32 a week, sometimes less than 24 but not much. Took 4 years to get over 40 quarters . I’m glad I did it. The extra money helps and now with the fairness act I’m really glad I did it. Don’t get me wrong it sucked going back to work after I retired, but still glad I did it. I think the formula for 40 quarters is 10 years full time. Don’t quote me on this is what I was told. Don’t know for sure .

 

[Heylam]

My brother is a retired firefighter and is waiting on this. Has anyone actually received either a payment or letter stating what they’ll actually receive?

 

[havasujeeper]

There is a convoluted formula, but checking 3 different amounts (50k, 100k, and 150k) all salaries came back to the maximum amount, which i believe is $597 a month.

 

[boatpi]

Got e mail today.

 

[BoatCop]

Got e mail today.

I posted the latest info in new new thread.

Social Security Fairness Act, Implementation.

I purposely started a new thread on this subject, so the important info doesn't get lost in the previous one, so sit the fuck down, Vin. New info on the implementation timeline. Straight from the NEW AND IMPROVED IRS. WHEN WILL A PERSON SEE THEIR SOCIAL SECURITY BENEFIT INCREASE BECAUSE OF THE...

www.riverdavesplace.com

 

[zbudman]

Got my lump sum deposited this afternoon.

 

[C_J_J_C]

I need 12 quarters to qualify. I didn't make much prior to going to the city.
I need to see what it would be if I made up these 12 quarters.
I'm enjoying my pension.
Colud always use more.

I need 2 quarters and I don't think it is worth it..... 12 quarters.... hell no

 

[oldman]

Mom saw a monthly increase of $97 a month, not sure if she's eligible for any lump sum, retired from a school district probably 30 year ago.

 

[BoatCop]

Mom saw a monthly increase of $97 a month, not sure if she's eligible for any lump sum, retired from a school district probably 30 year ago.

The lump sum is from January 2024. That was the effective date of the repeal. Since she already got her Feb payment (SS pays in the month following), she'd be owed around $1,164. ($97x12)

 

[BoatCop]

I just checked my SS account and brought up my "Benefit Verification Letter". It states:

"Beginning December 2024, the full monthly Social Security benefit before any deductions is $1,062.50.

We deduct $185.00 for medical insurance premiums each month. The regular monthly Social Security payment is $877.00.
(We must round down to the whole dollar.)

Social Security benefits for a given month are paid the following month. (For example, Social Security benefits for March are paid in April.)"

My current benefit (with WEP applied) is $628 minus $185 for MEDICARE for a net $443 a month. Almost double!!!!! Lump sum will be around $5,500!

 

[boatpi]

Most are receiving DD in their accounts this past week. As I understand it, this is back pay for 14 months. So divide by 14, and this will be your new monthly. I received about $9,500 yesterday.

 

[havasujeeper]

I just checked my SS account and brought up my "Benefit Verification Letter". It states:

"Beginning December 2024, the full monthly Social Security benefit before any deductions is $1,062.50.

We deduct $185.00 for medical insurance premiums each month. The regular monthly Social Security payment is $877.00.
(We must round down to the whole dollar.)

Social Security benefits for a given month are paid the following month. (For example, Social Security benefits for March are paid in April.)"

My current benefit (with WEP applied) is $628 minus $185 for MEDICARE for a net $443 a month. Almost double!!!!! Lump sum will be around $5,500!

I have similar dollar amounts, but that page does not reflect your WEP.

 

[hallett3]

If you log in to your social security account and check verification letter document. It will explain your dollar amount for your new monthly increase.

 

[havasujeeper]

If you log in to your social security account and check verification letter document. It will explain your dollar amount for your new monthly increase.

Your information was spot on. Thank you for this unknown hint!