Monday, January 14, 2013

Social Security: The Windfall Elimination Provision (WEP)

"The windfall elimination provision (WEP) reduces the Social Security benefits of workers who
also have pension benefits from employment not covered by Social Security. Its purpose is to
remove an advantage or “windfall” these workers would otherwise receive as a result of the
interaction between the Social Security benefit formula and the workers’ relatively short careers
in Social Security-covered employment. Opponents contend the provision is basically imprecise
and can be unfair..."
Social Security: the Windfall Elimination Provision (WEP)

No comments: