Can Texas Teachers Draw Social Security
Tell Congress to end the unfair benefit cuts: Ship your online alphabetic character at present!
Examples of the WEP and GPO are given below
The American Federation of Teachers is endorsing a bill–the Public Servants Protection and Fairness Human action–that would finally address an unfair commencement to Social Security benefits for public employees receiving pensions–including schoolhouse employee members of the Teacher Retirement System of Texas.
This offset, the Windfall Emptying Provision (WEP), reduces Social Security benefits of local, state, and federal retirees who worked in Social Security-covered employment and who also receive a regime pension from their non-Social Security covered government employment. In other words, Texas school employees with TRS pensions who too worked in the private sector have long suffered with meaning cuts to their monthly Social Security payments.
The bill, Hour 4540 by Rep. Richard Neal (D-Massachusetts), would alter the current Windfall Elimination Provision (WEP) with a new formula for Social Security benefits and a "rebate" of $150 per month to current Social Security beneficiaries impacted by the WEP. While the bill isn't a perfect repeal of the WEP, it is of import to note that it is structured so that nearly retirees will see a gain in benefits and no retirees–either electric current or future–will be worse off (something that was a key flaw in previous legislation addressing the WEP). The bill also maintains the current exemptions from the WEP for individuals not receiving a pension and for those with 30 years or more of coverage under Social Security.
The pecker does not address another harmful showtime, the Authorities Alimony Showtime, which frequently eliminates all spousal and survivor benefits for public employees with pensions. Y'all tin can read more nigh the GPO and WEP here. Texas AFT will keep to fight for what has long been termed "Social Security Fairness," and we will keep you lot updated on this bipartisan bill, which although conveying widespread bipartisan back up, all the same faces an uphill battle in an ofttimes gridlocked Congress. You can read more with examples of the impacts of WEP and GPO here. <link>
Background
The vast majority of Texas teachers and other school employees work in school districts that long agone elected not to participate in the Social Security system. A shock awaits many of these teachers and other education employees when they retire. These education employees may think that they accept qualified for full Social Security benefits, based on their ain piece of work for other employers who did take function in Social Security or based on their spouse's piece of work at a job covered by Social Security. Nonetheless, when they retire, these educators find out that their Social Security benefits are cut—in some cases even eliminated because federal law deems their Texas Teacher Retirement Organisation alimony a "windfall" that justifies cutting their Social Security benefits.
Windfall Elimination Provision
Consider another case. This time, suppose the teacher qualified for Social Security benefits by working for another employer for twenty years before she went to work for the schoolhouse district. Or suppose she worked at another task on evenings, weekends, and summers to qualify for Social Security. What happens when she retires from her job with a schoolhouse commune that doesn't take part in Social Security? She faces a severe cut in her Social Security benefits considering federal law contains the so-called Windfall Elimination Provision. Under this law, instead of receiving 90 percent of the outset $856 of average monthly pre-retirement earnings, she receives only xl per centum. That's a $428 cut in her expected monthly Social Security do good.
Regime Pension Offset
Consider the case of a widow eligible to receive a survivor's do good of $600 a calendar month from Social Security. Suppose she retires from a school district that does not take part in the Social Security arrangement and in her own right has earned a TRS alimony of $900 a month. Federal law imposes a and so-called Government Alimony Offset that reduces her Social Security survivor's benefit by two-thirds of the amount she receives from Texas TRS. That happens in this case to be a $600 outset—which ways her survivor's do good is reduced to nothing.
Tell Congress to stop the unfair benefit cuts: Send your online letter of the alphabet now!
Source: https://www.texasaft.org/hotline/new-bill-takes-aim-at-unfair-social-security-benefit-cuts-to-educators/
Posted by: roybaltagning.blogspot.com
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