Thursday, February 16, 2012
Alison M. Shelton
Analyst in Income Security
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 that the provision is basically imprecise and can be unfair.
Date of Report: January 30, 2012
Number of Pages: 10
Order Number: 98-35
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Posted by Penny Hill Press, Inc. at 10:11 AM