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Social Security: The Windfall Elimination Provision (WEP)

Description: This report discusses the windfall elimination provision (WEP), which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because of Social Security’s benefit formula that favors workers with smaller amounts of Social Security-covered career earnings. Opponents contend that the provision is basically imprecise and often unfair.
Date: January 14, 2008
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

Social Security: The Windfall Elimination Provision (WEP)

Description: This report discusses the windfall elimination provision (WEP), which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because of Social Security’s benefit formula that favors workers with smaller amounts of Social Security-covered career earnings. Opponents contend that the provision is basically inaccurate and often unfair.
Date: March 8, 2007
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

Social Security: The Windfall Benefit Provision

Description: This report discusses the windfall elimination provision, which reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security. Its purpose is to remove an advantage these workers would otherwise receive because of Social Security's benefit formula that favors workers with smaller amounts of Social Security-covered career earnings. Opponents contend that the provision is basically inaccurate and often unfair. In both the 107th and 1… more
Date: January 9, 2004
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

Social Security Reform: President Bush's Individual Account Proposal

Description: The Old-Age, Survivors, and Disability Insurance (OASDI) program, commonly referred to as Social Security, is facing a long-term fiscal deficit. In response to this challenge, President Bush has made Social Security reform the key focus of his domestic social policy agenda during his second term. On February 2, the President issued a document, “Strengthening Social Security for the 21st Century,” which lays out the specifications for a system of voluntary individual accounts to be phased-in as … more
Date: April 25, 2005
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

Social Security: "Transition Costs"

Description: The Social Security Administration’s chief actuary forecasts that under current law, the Social Security Trust Funds will be depleted in 2042. Many Members of Congress have expressed concern that restoring the program to long-term fiscal balance will impose burdens on future generations by requiring them to pay higher taxes, accept benefit cuts, or undertake substantial government borrowing to pay the full benefits promised under current law.
Date: December 23, 2004
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
open access

Social Security: Raising or Eliminating the Taxable Earnings Base

Description: Social Security taxes are levied on earnings up to a maximum level set each year. In 2004, this maximum — or what is referred to as the taxable earnings base — is $87,900. There is no similar base for the Medicare Hospital Insurance (HI) portion of the tax; all earnings are taxable for HI purposes. Elimination of the HI base was proposed by President Clinton and enacted in 1993, effectively beginning in 1994. Recently others have proposed that the base for Social Security be raised or eliminate… more
Date: January 20, 2004
Creator: Haltzel, Laura
Item Type: Refine your search to only Report
Partner: UNT Libraries Government Documents Department
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