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Episode 12: Federal Employee Financial Planning Social Security Fairness Act: WEP

Episode 12: Federal Employee Financial Planning Social Security Fairness Act: WEP

FromFederal Employee Financial Planning Podcast


Episode 12: Federal Employee Financial Planning Social Security Fairness Act: WEP

FromFederal Employee Financial Planning Podcast

ratings:
Length:
31 minutes
Released:
May 30, 2022
Format:
Podcast episode

Description

The windfall elimination provision (WEP) is an altered benefit procedure that reduces the Social Security benefits of certain retired or disabled workers who are also entitled to pension benefits. Its purpose is to remove a “windfall” that these workers would otherwise receive. WEP’s supporters argue that the formula is a means to prevent larger payments and benefits to folks, whereas opponents argue that the provision radically reduces a benefit that workers may have included in their retirement plans. In this episode, Michael, Tommy, and John will be sharing how the recent legislation will impact this provision and how this may affect you. Access the full show notes at Mason & Associates, LLC
Released:
May 30, 2022
Format:
Podcast episode

Titles in the series (67)

Federal employee benefits are among the most comprehensive and strongest in the country. Financial planning for federal employees requires knowledge of both financial planning concepts and a comprehensive understanding of these benefits. General financial planning advice is just that, general. We speak specifically to federal employees and the unique planning techniques and strategies to help them maximize their benefits. Mason & Associates have over three decades serving as financial planners for federal employees.