new US law set to eliminate WEP penalty for SSA retirement benefits

[gamb00ler]

https://www.yahoo.com/finance/news/house-passes-196-billion-social-161533489.html

 

The Yahoo news article did not mention a few details. The bill is H.R.82 Social Security Fairness Act. The bill will cover SSA payments for January 2024 and later. I think at this time SSA Administration is severely understaffed so it could be a substantial wait before the extra funds are paid. From my experience SSA's IT systems are in very poor shape.

 

Those affected will mostly be Canadians given the larger numbers of people who have worked in both countries.

[jas007]

On 11/24/2024 at 10:56 AM, gamb00ler said:

https://www.yahoo.com/finance/news/house-passes-196-billion-social-161533489.html

 

The Yahoo news article did not mention a few details. The bill is H.R.82 Social Security Fairness Act. The bill will cover SSA payments for January 2024 and later. I think at this time SSA Administration is severely understaffed so it could be a substantial wait before the extra funds are paid. From my experience SSA's IT systems are in very poor shape.

 

Those affected will mostly be Canadians given the larger numbers of people who have worked in both countries.

 The house passed the bill and it's now in the Senate, where it has 62 sponsors, so it will likely pass there, assuming it's brought for a vote before December 21. I think they're trying to get Schumer to attach it to some other "must pass" legislation to speed things along.  The payments will be retroactive to January 2024, so some people will be getting a nice little check whenever they make the payment. It's all computerized, so they should be able to process those quickly.