"Restoring Full Social Security Benefits for Public Servants: Lawmakers Discuss Reforms"

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Source: Fox Business
TL;DR Summary

Legislators are pushing for the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which currently reduce Social Security benefits for public workers who receive a pension. About 6% of workers are not covered by Social Security, including state and local government employees. However, fully repealing these provisions would cost an estimated $150 billion over the next decade and could disproportionately benefit workers with both traditional and non-traditional occupations. Additionally, concerns arise regarding the 3.2% increase in Social Security benefits in 2024, as retirees worry it may not keep up with rising costs and trigger benefit cuts.

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