presentation by liz curtis for ssfairness.com
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Presentation by Liz Curtis for SSFAIRNESS.COM. For use by the public in fight to repeal GPO/WEP which unjustly penalize our public servants. GPO & WEP. YOU. Grassroots Movement. What can one person do?. 2. GPO/WEP & workforce. More than 1/5 all public employees at risk. - PowerPoint PPT PresentationTRANSCRIPT
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Presentation by Liz Curtis for
SSFAIRNESS.COM
For use by the public in fight to repeal GPO/WEP which unjustly penalize our public servants
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2
GPO & WEP
What can one person do?
Grassroots Movement
YOU
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GPO/WEP & workforce
More than 1/3 all educators at risk
More than 1/5 all public employees at risk
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What is Windfall Elimination Provision (WEP)? Since 1983
WEP affects one’s own earned Social Security benefits.
For many a set formula will significantly reduce SS benefits.
You can lose up to half of your expected Social Security pension.
Held to a different standard
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WEP affects those who:
JOB 1 Entitles them to a pension from
state/local gov’t work which does not pay Social Security taxes.
JOB 2 Entitles them to a Social Security
retirement or disability benefit from work which does pay SS taxes.
Held to a different standard
Have had 2 careers when…
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What is the GPO? Since 1977
Held to a different standard
The Government Pension Offset
The GPO affects:SS Spousal & Survivor Benefits
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Who does the GPO affect?
Work(ed) for a state/local gov’t in employment not taxed by Social Security.
Entitled to dependent spouse or survivor’s Social Security benefits.
And are also…
Held to a different standard
Persons who…
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Normal dependent Spouse & Survivor benefits
Normally the retired dependent spouse receives an amount equal to 50% of earner’s SS. When earner retires, the couple receives 150% of the earner's amount if both are retired. A divorced spouse gets the 50% if they were married for 10 years or more.
Normally, a widow/er is awarded 100% of Spouse’s Social Security pension.
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Benefit reductions due to GPO
GPO penalty: Social Security spousal & survivor benefits are reduced by 2/3 amount of the separate & independent pension earned by one’s spouse, if that pension plan did not pay Social Security taxes.
A pension of only $1,500/month can result in total loss of needed survivor benefits.
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Occupations penalized Teachers, police, firefighters, postal workers, air traffic
controllers, customs agents, federal government employees (hired before 1983 -CSRS), & state, county, local & special district workers are penalized. Even a foreign pension can reduce Social Security benefits.
GPO & WEP = “Heroes’ Penalties”
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Federal workers penalized in all states and overseas as well.
Air Traffic Controllers
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State, county, municipal employeespenalized in 26 states (in blue)
Largest populations: CA, CO, IL, LA, OH, TX
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Teachers in Alaska & 14 other states
Alaska, California, Colorado, Connecticut, Illinois, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Missouri, Nevada, Ohio, Rhode Island, Texas
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Not double dipping!
We earned benefits from both.
Worked 2 jobs paying into 2 different systems, each for required time. Should earn 2 partial retirements incomes independent of each other.
Even Federal law taxes Social Security and public agency pensions differently.
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Recruitment stifled
“Current law not only makes it more difficult to recruit teachers, police officers and fire fighters, but it penalizes the invaluable public servants who have already given so much.” Senator Diane Feinstein
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Can a pensioner & family afford this SS loss?
$500 /month which equals…. $6,000/year which equals…. $90,000 total lost in 15 years
OUCHGPO losses are often substantially more!
WEP loss example
Ouch!
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Severe financial hardship
Many live below federal poverty level.
Most widows get NO spousal benefits
Widows & divorced women, & the aged.
Especially for…
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Real people & GPO/WEP losses
GPO/WEP = Financial IN$ecurity
True stories: The following people or their spouse paid the full contribution to Social Security for 10 years and often many more, but are denied the full benefit, due to GPO/WEP.
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Cheated in Massachusetts
13 years in the military, served in war where I earned:3 Bronze Stars for valorPlus a Purple Heart
22 years in teaching
“I am shocked to learn I will receive virtually nothing from Social Security.” Victim of WEP
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Penalized in Texas
“I worked both as a teacher & a registered nurse & have paid FULLY into both Social Security & my teacher’s pension fund for retirement.”
“Must I retire in poverty because I worked hard in both areas but will only be fairly compensated for one?” Victim of WEP
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Food stamps for teacher in Texas? Husband in nursing home with huge copayments. Annuity not adequate. Full Social Security benefits would alleviate
serious need.
All because… I taught in two different states
Victim of WEP
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Facing poverty in Ohio .... Does anyone care?
A. Retire at $16,000/year.Choice
B. Work until 73 for full teacher’s pension.
Victim of WEP, worried about GPO
Worked 15 SS years & 20 teaching years
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Trying to make ends meet in Massachusetts
However, the partial retirement I receive for the 16 years I taught disqualifies me from receiving any of this earned dependent spousal benefit which my husband paid for. As a divorcee I am finding it difficult to survive on a partial retirement. Loses $1,000/month
Victim of GPO
In normal circumstances I would receive Social Security benefits of $1,000/month for the 20 years I cared for my children and served as a school/community volunteer.
Could you survive on a partial retirement?
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Dismal retirement in Illinois “My late husband & I worked a total of 78
professional years.” “My annual retirement of $22, 392 is hardly
regal after 37 years teaching.”
“Yet, this prevents me from receiving survivor benefits from Social Security.”
Victim of GPO
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Paid $90,000 in SS taxes
I will not even receive a bit of interest from this “investment” in my future.
Government invests my money
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Social Security is inequitable
Equity Inequity
We seek a fair system with an equal standard of distribution for all earned Social Security credits.
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Our Goal Repeal the GPO & WEP
Sponsor: Rep. McKeon, Howard P. “Buck”
116 cosponsors in House112th Congress
H.R. 1332 To amend title II of the Social Security Act to repeal the Government Pension Offset & Windfall Elimination Provision.
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Cost of justice The cost to repeal the GPO & WEP is
2% of the overall Social Security costs paid to recipients each year.
Only 2%
Information at http://www.ssa.gov/
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Why care…
Financial planning
if retirement not in near future?
is part of life
Law to inform employees of GPO/WEP ONLY applies to those hired after Jan. 1, 2005.
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Divorce is not uncommon in today’s society.
Critical to proper division of assets.
Knowledge of GPO/WEP
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Single lifestyle common
Today 1 in 4 households
Can she make end meet?
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Life is full of surprises
At some point, many lose their spouse. For women, chances are high & if so, they will lose much or all of their survivor benefits.
Is a precarious lifestyle what we want for our family members?
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We need action now or …….
GPO/WEP will continue another 30 years
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Why should other states care?
Today’s society is mobile.
Many move from state to state & job to job
GPO/WEP affects people in every state.
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What is ssfairness.com? A nation wide all-volunteer group of active & retired
public service employees, working to REPEAL GPO/WEP.
TOGETHER, we can unlock the hold on our earned benefits.
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YOU can make a difference!
Be the voice for change
and ….. Do not give up!
Sign up on ssfairness.com for Action AlertsThen….Talk, talk, talk, write, write, write!
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Yes, with YOUR HELP Fairness can prevail
Together we can do so much.” Helen Keller
“Alone we can do so little;
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Dedication
Produced by ssfairness.com for the benefit of all who have dedicated their lives to serving our country & deserve to be honored, not demeaned for their undying efforts. Hoping soon they will be recognized and their rights restored.
More than 1 million affected
Estimates vary according to source
Changes to PowerPoint Should be approved.