WASHINGTON, D.C. — Congressman Vicente Gonzalez announced he has co-sponsored the Public Servants Protection and Fairness Act of 2021.
According to the congressman, it is legislation that will fix the Windfall Elimination Provision (WEP) for future retirees and provide meaningful relief to teachers, firefighters, police officers, and public servants who are impacted by this provision.
The legislation establishes a new, fairer formula that will pay Social Security benefits in proportion to the share of a worker’s earnings that were covered for Social Security purposes.
This provision is coupled with a benefit guarantee ensuring no benefit cuts relative to current law for all current and future retirees. Current WEP retirees will receive $150 a month in relief payments, said the news release.
Originally, the WEP was intended to equalize the Social Security benefit formula for workers with similar earnings histories, both inside and outside of the Social Security system.
However, in practice, it unfairly penalizes many public employees, said the news release.
The following materials are available on the Public Servants Protection and Fairness Act of 2021:
- Overview of the Public Servants Protection and Fairness Act of 2021
- Section-by-section summary
- Bill text
- Estimate from the Social Security Administration Chief Actuary