The is now making headlines because it intends to bring about drastic reforms that will affect more than 3 million Americans. This proposed legislation has promised to raise Social Security for targeted categories by wiping out outdated provisions. However, it waits in the wings and must be approved before January when the government will change. … Read more
It’s in the news lately because it introduces drastic changes that would touch more than 3 million Americans. If this law passes, Social Security will see increased benefits for certain classes as it would abolish outdated provisions. However, this law needs to be approved by the next January when the government changes hands. These provisions have been criticized for unfairly penalizing retirees who worked in public service roles, such as teachers, firefighters, and postal workers. This change in the law will have a significant effect on two critical groups: For example, these include professionals such as: And this is because the eradication of WEP and GPO means they can no longer be subjected to deductions in their Social Security, thereby making it an equitable means of distributing benefits. Financial Implication … Read more