|
Social Security Government Pension Offset
The Government Pension Offset (GPO) was a statutory provision in United States law which affected benefits paid by the Social Security Administration. It was repealed by the Social Security Fairness Act of 2023 (H.R. 82), which President Biden signed on January 5, 2025. It reduced spousal and widow(er) Social Security retirement benefits in situations where the spouse did not pay Social Security taxes on their employment earnings. Many state and local government employees and other non-covered pension recipients do not contribute to the Social Security system. One exception to this provision occurred when the spouse was receiving a foreign pension for a different country, in which case the Government Pension Offset was not applied (unlike the Windfall Elimination Provision, which also applied to foreign pensions and benefits that the number holder received). This was in contrast to the Windfall Elimination Provision (WEP), which reduced Social Security benefits of the actual numb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security Administration
The United States Social Security Administration (SSA) is an Independent agencies of the United States government, independent agency of the Federal government of the United States, U.S. federal government that administers Social Security (United States), Social Security, a social insurance program consisting of retirement, disability and survivor benefits. The Social Security Administration was established by the Social Security Act of 1935 and is codified in (). It was created in 1935 as the "Social Security Board", then assumed its present name in 1946. Its current leader is Commissioner Frank Bisignano. SSA offers its services to the public through 1,200 field offices, a website, and a national toll-free number. Field offices, which served 43 million individuals in 2019, were reopened on April 7, 2022 after being closed for two years due to the COVID-19 pandemic. SSA is headquartered in Woodlawn, Baltimore County, Maryland, Woodlawn, Maryland, just to the west of Baltimore, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security Fairness Act
The Social Security Fairness Act is a United States law that repealed the Social Security Government Pension Offset and Windfall Elimination Provision. The bill passed the House in November 2024 and then passed the Senate in December. It was signed into law by President Biden on January 5, 2025. Background In the United States, Social Security offers government-sponsored Retirement Insurance Benefits to retired individuals that have reached 40 quarters of work, following the Average Indexed Monthly Earnings formula; this is generally applicable to all workers, but there are some exceptions. Over fears that the system would run out of money in 1983, however,Sylvester J. Schieber and John. B. Shoven, ''The Real Deal'', 1999, p. 190. Congress passed the Social Security Amendments of 1983, which created the Windfall Elimination Provision, which reduced the benefit formula for those with a non-covered pension as well as qualified for social security benefits. Those with uncov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security (United States)
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935,Social Security Act of 1935 and the existing version of the Act, as amended, 2 USC 7 encompasses several social welfare and social insurance programs. The average monthly Social Security benefit for May 2025 was $1,903. This was raised from $1,783 in 2024. The total cost of the Social Security program for 2022 was $1.244 trillion or about 5.2 percent of U.S. gross domestic product (GDP). In 2025 there have been proposed budget cuts to social security. Social Security is funded primarily through payroll taxes called the Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA). Wage and salary earnings from covered employment, up to an amount determined by law (see tax rate table), are subject to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Windfall Elimination Provision
The Windfall Elimination Provision (abbreviated WEP) was a statutory provision in United States law which affected benefits paid by the Social Security Administration under Title II of the Social Security Act. It reduced the Primary Insurance Amount (PIA) of a person's Retirement Insurance Benefits (RIB) or Disability Insurance Benefits (DIB) when that person was eligible or entitled to a pension based on a job which did not contribute to the Social Security Trust Fund. When it was in effect, it also affected the benefits of others claiming on the same social security record. It was repealed by the Social Security Fairness Act (H.R. 82) in 2025. History The Social Security Amendments of 1983 (Public Law 98-21) provided for the WEP as a means of eliminating the "windfall" of social security benefits received by beneficiaries who also receive a pension based on work not covered by Social Security. The windfall in question refers to the subsidization of the PIA for beneficiaries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retirement Insurance Benefits
Retirement Insurance Benefits (abbreviated RIB) or old-age insurance benefits are a form of social insurance payments made by the U.S. Social Security Administration paid based upon the attainment of old age (62 or older). Benefit payments are made on the 3rd of the month, or the 2nd, 3rd, or 4th Wednesday of the month, based upon the date of birth and entitlement to other benefits. Legal authority RIB is authorized under Title II of the Social Security Act. Entitlement factors Certain requirements must be met before a person becomes entitled to RIB. These requirements are based on both age and payments made into the Social Security System through payroll taxes. These are: *Be fully insured under the Social Security system *Have obtained the age of 62 by the first of the month. *Have either applied for the benefits ''or'' have been automatically converted from Disability Insurance Benefits at Full Retirement Age. Fully insured status People attain fully insured status based up ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disability Insurance Benefits
Social Security Disability Insurance (SSD or SSDI) is a payroll tax-funded federal insurance program of the United States government. It is managed by the Social Security Administration and designed to provide monthly benefits to people who have a medically determinable disability (physical or mental) that restricts their ability to be employed. SSDI does not provide partial or temporary benefits but rather pays only full benefits and only pays benefits in cases in which the disability is "expected to last at least one year or result in death". Relative to disability programs in other countries in the Organisation for Economic Co-operation and Development (OECD), the SSDI program in the United States has strict requirements regarding eligibility. SSDI is distinct from Supplemental Security Income (SSI). Unlike SSDI (as well as Social Security retirement benefits) where payment is based on contribution credits earned through previous work and therefore treated as an insurance b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
