The recently passed Social Security Fairness Act brings important changes to Social Security benefits by repealing two longstanding provisions: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions previously reduced or eliminated Social Security benefits for individuals who received pensions from jobs not covered by Social Security. The WEP reduced retirement or disability benefits, while the GPO affected spousal and survivor benefits for those who also received their own government pensions.
Who is impacted?
This change primarily impacts individuals such as teachers in school districts that did not participate in Social Security, certain state and local government workers, and federal employees hired before 1984 who were part of the Civil Service Retirement System (CSRS). These groups often paid into separate pension systems instead of Social Security, resulting in reduced benefits under the now-repealed provisions.
What are My Next Steps?
As your financial advisors, we are committed to helping you navigate these changes. While the Social Security Administration (SSA) works to update benefits for millions of retirees, we encourage you to remain patient. The SSA will require time to process these updates, and starting January 6, 2025, appointments will be necessary for in-person services at SSA field offices.
We also recommend reviewing your Social Security benefits online through your my Social Security account to ensure all information is accurate. If you have a credit freeze or fraud alert on your credit report, you may need to temporarily lift it to access your account.
Be Aware of Potential Scam-Artists
Additionally, we urge you to stay alert to potential scams. Phishing emails, robocalls, and fake websites pretending to be the SSA are common. Remember, the SSA will never ask for sensitive personal information, such as your Social Security number or date of birth, via email. If you encounter any suspicious communications, contact your local SSA office or call 1-800-772-1213 to verify their legitimacy.
We will continue to monitor updates from the SSA and provide information as it becomes available. If you have any questions or need assistance understanding how these changes may affect your retirement plans, please don’t hesitate to reach out. For additional resources, visit ssa.gov and/or make an appointment with your local social security office.
Best regards,
© 2025 Irene Zurowski CFP® CRPS®
Financial Advisor
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