The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), enacted in the late 1970s and early 1980s, were designed to reduce government spending on Social Security.

Social Security Board of Trustees Annual Report warns of an accelerated timetable for trust fund depletion and potential benefit reductions that could significantly impact ...

Prices rose faster in May than forecasters had anticipated, and consumers unexpectedly lost income and pulled back on spending.

The outlook worsened in 2021, when Social Security's costs exceeded its income, including interest, forcing the program to dip into its $2.9 trillion "trust fund"—mostly an accounting gimmick ...

The legislation passed Saturday by Congress eliminates two formula, known as the Windfall Elimination Provision and the Government Pension Offset, that reduced benefits for workers who paid into ...

The Social Security Fairness Act removed restrictions on benefits for people with government pensions. If you're one of them, ...

Early this year, near the end of his term in office, President Biden signed the Social Security Fairness Act, a law that ended the Windfall Elimination Provision and Government Pension Offset ...

The Windfall Elimination Provision (WEP) penalized certain retirees. “Right now, WEP can reduce your Social Security benefit if you also get a pension from non-covered work,” Ray explained.

At the start of 2025, then-President Joe Biden signed the Social Security Fairness Act into law, paving the way for 2.8 million Americans to receive an increase in their monthly Social Security… ...

Key Takeaways The Social Security Fairness Act was signed into law by President Joe Biden in January 2025 to repeal the Windfall Elimination Provision and Government Pension Offset. The law means ...