logging in or signing up SSFAIRNESS PPT 9-10-10 4ssfairness Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 649 Category: Education License: Some Rights Reserved Like it (2) Dislike it (0) Added: September 18, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: 4ssfairness (15 month(s) ago) This PowerPoint was prepared to explain two unfair Social Security offsets, the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP), which affect teachers in 15 states, firefighters, police (CSRS), and many state, county local and special district employees. The GOP and WEP represent 30 years of failed public policy and will continue another 30 if people do not become active in the fight for their repeal. Please view this explanatory PowerPoint and decide if you think these provisions are equitable. Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Presentation by Liz Curtis for : Presentation by Liz Curtis for ssfairness.com For use by public in fight to repeal GPO/WEP GPO & WEP : 2 GPO & WEP What can one person do? YOU GPO/WEP & workforce : GPO/WEP & workforce More than 1/3 all educators at risk More than 1/5 all public employees at risk What is Windfall Elimination Provision (WEP)? Since 1983 : 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 WEP affects those who: : 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… What is the GPO? Since 1977 : What is the GPO? Since 1977 Held to a different standard The Government Pension Offset The GPO affects: SS Spousal & Survivor Benefits Who does the GPO affect? : 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… Normal dependent Spouse & Survivor benefits : 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% 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. Benefit reductions due to GPO : 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 the loss of needed survivor benefits. Occupations penalized : Occupations penalized Teachers, police, firefighters, postal workers, air traffic controllers, customs agents, many federal government employees, & many state & local workers are penalized: GPO & WEP have been called the “Heroes’ Penalties” : Where do federal workers live? All over the U.S. and overseas as well. Air Traffic Controllers state, county, municipal employees : state, county, municipal employees 26 States (in blue) Largest populations: CA, CO, IL, LA, OH, TX Slide 13: Teachers in Alaska & 14 other states Alaska, California, Colorado, Connecticut, Illinois, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Missouri, Nevada, Ohio, Rhode Island, Texas Not double dipping! : Not double dipping! We earned benefits from both. Worked 2 jobs paying into 2 different & independent systems, each for required time. Should earn 2 partial retirement incomes independent of each other. Recruitment stifled : Recruitment stifled Social Security benefits…. should be equitable for all. “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.” Diane Feinstein Can a pensioner & family afford this SS loss? : Can a pensioner & family afford this SS loss? $500 /month which equals…. $6,000/year which equals…. $90,000 total lost in 15 years OUCH GPO losses are often substantially more! WEP loss example Ouch! Severe financial hardship : Severe financial hardship Many live below federal poverty level. Most widows get NO spousal benefits Widows & divorced women, & the aged. Especially for… Real people & GPO/WEP losses : Real people & GPO/WEP losses GPO/WEP = IN$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. Cheated in Massachusetts : Cheated in Massachusetts 13 years in the military, served in war where I earned: 3 Bronze Stars for valor Plus a Purple Heart 22 years in teaching “I am shocked to learn I will receive virtually nothing from Social Security.” Victim of WEP Penalized in Texas : 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 Food stamps for teacher in Texas? : 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 Facing poverty in Ohio .... Does anyone care? : 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 Dismal retirement in Illinois : 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 Confused widow in California : Confused widow in California “While I continue to teach, I will receive survivor benefits of $25,000/year.” “When I retire, I will not receive a dime of survivor benefits.” This makes no sense! Victim of GPO Paid $70,000 in SS taxes : Paid $70,000 in SS taxes I will not even receive a bit of interest from this “investment” in my future. Government invests my money Social Security is inequitable : Social Security is inequitable Equity Inequity We seek a fair system with an equal standard of distribution for all earned Social Security credits. Our Goal Repeal the GPO & WEP : Our Goal Repeal the GPO & WEP 325 cosponsors in House 31 cosponsors in Senate 111th Congress Social Security Fairness Act of 2009 Pass H.R. 235 and S. 484 Cost of justice : 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% Money long overdue Years beyond due date According to the Estimated Trust Fund information at http://www.ssa.gov/ Why care… : 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 on or after Jan. 1, 2005. Divorce is not uncommon in today’s society. : Divorce is not uncommon in today’s society. Critical to proper division of assets. Knowledge of GPO/WEP Single lifestyle common : Single lifestyle common Today 1 in 4 households Can she make end meet? Life is full of surprises : 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? We need action now or ……. : We need action now or ……. GPO/WEP will continue another 30 years We appeal to you, brothers & sisters : We appeal to you, brothers & sisters Every state, not only those with penalties. One nation, with liberty & justice for all Why should other states care? : 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. What is ssfairness.com? : What is ssfairness.com? A nation wide all-volunteer group of active & retired public service employees, working to REPEAL GPO/WEP. Sign up on ssfairness.com for Action Alerts so we can unlock the hold on our earned benefits. Coalition to Assure Retirement Equity (CARE) 43 national, state & local organizations : Coalition to Assure Retirement Equity (CARE) 43 national, state & local organizations Supporting & connecting groups across the country, working to repeal GPO & WEP. Is your professional association working with CARE? Be a part of the action! Slide 38: Educate yourself- read Write letters/emails Share widely Motivate others Persevere What can one person do? Yes, fairness can prevail : with your help! Yes, fairness can prevail YOU Changes to PowerPoint should be approved Dedication : 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. 1-4 million lives affected Estimates vary according to source YOU can make a difference! Be the voice for change : YOU can make a difference! Be the voice for change Sign up on ssfairness.com for Action Alerts and ….. Do not give up! Then…. Talk, talk, talk Write, write, write! You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
SSFAIRNESS PPT 9-10-10 4ssfairness Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 649 Category: Education License: Some Rights Reserved Like it (2) Dislike it (0) Added: September 18, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: 4ssfairness (15 month(s) ago) This PowerPoint was prepared to explain two unfair Social Security offsets, the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP), which affect teachers in 15 states, firefighters, police (CSRS), and many state, county local and special district employees. The GOP and WEP represent 30 years of failed public policy and will continue another 30 if people do not become active in the fight for their repeal. Please view this explanatory PowerPoint and decide if you think these provisions are equitable. Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Presentation by Liz Curtis for : Presentation by Liz Curtis for ssfairness.com For use by public in fight to repeal GPO/WEP GPO & WEP : 2 GPO & WEP What can one person do? YOU GPO/WEP & workforce : GPO/WEP & workforce More than 1/3 all educators at risk More than 1/5 all public employees at risk What is Windfall Elimination Provision (WEP)? Since 1983 : 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 WEP affects those who: : 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… What is the GPO? Since 1977 : What is the GPO? Since 1977 Held to a different standard The Government Pension Offset The GPO affects: SS Spousal & Survivor Benefits Who does the GPO affect? : 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… Normal dependent Spouse & Survivor benefits : 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% 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. Benefit reductions due to GPO : 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 the loss of needed survivor benefits. Occupations penalized : Occupations penalized Teachers, police, firefighters, postal workers, air traffic controllers, customs agents, many federal government employees, & many state & local workers are penalized: GPO & WEP have been called the “Heroes’ Penalties” : Where do federal workers live? All over the U.S. and overseas as well. Air Traffic Controllers state, county, municipal employees : state, county, municipal employees 26 States (in blue) Largest populations: CA, CO, IL, LA, OH, TX Slide 13: Teachers in Alaska & 14 other states Alaska, California, Colorado, Connecticut, Illinois, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Missouri, Nevada, Ohio, Rhode Island, Texas Not double dipping! : Not double dipping! We earned benefits from both. Worked 2 jobs paying into 2 different & independent systems, each for required time. Should earn 2 partial retirement incomes independent of each other. Recruitment stifled : Recruitment stifled Social Security benefits…. should be equitable for all. “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.” Diane Feinstein Can a pensioner & family afford this SS loss? : Can a pensioner & family afford this SS loss? $500 /month which equals…. $6,000/year which equals…. $90,000 total lost in 15 years OUCH GPO losses are often substantially more! WEP loss example Ouch! Severe financial hardship : Severe financial hardship Many live below federal poverty level. Most widows get NO spousal benefits Widows & divorced women, & the aged. Especially for… Real people & GPO/WEP losses : Real people & GPO/WEP losses GPO/WEP = IN$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. Cheated in Massachusetts : Cheated in Massachusetts 13 years in the military, served in war where I earned: 3 Bronze Stars for valor Plus a Purple Heart 22 years in teaching “I am shocked to learn I will receive virtually nothing from Social Security.” Victim of WEP Penalized in Texas : 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 Food stamps for teacher in Texas? : 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 Facing poverty in Ohio .... Does anyone care? : 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 Dismal retirement in Illinois : 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 Confused widow in California : Confused widow in California “While I continue to teach, I will receive survivor benefits of $25,000/year.” “When I retire, I will not receive a dime of survivor benefits.” This makes no sense! Victim of GPO Paid $70,000 in SS taxes : Paid $70,000 in SS taxes I will not even receive a bit of interest from this “investment” in my future. Government invests my money Social Security is inequitable : Social Security is inequitable Equity Inequity We seek a fair system with an equal standard of distribution for all earned Social Security credits. Our Goal Repeal the GPO & WEP : Our Goal Repeal the GPO & WEP 325 cosponsors in House 31 cosponsors in Senate 111th Congress Social Security Fairness Act of 2009 Pass H.R. 235 and S. 484 Cost of justice : 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% Money long overdue Years beyond due date According to the Estimated Trust Fund information at http://www.ssa.gov/ Why care… : 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 on or after Jan. 1, 2005. Divorce is not uncommon in today’s society. : Divorce is not uncommon in today’s society. Critical to proper division of assets. Knowledge of GPO/WEP Single lifestyle common : Single lifestyle common Today 1 in 4 households Can she make end meet? Life is full of surprises : 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? We need action now or ……. : We need action now or ……. GPO/WEP will continue another 30 years We appeal to you, brothers & sisters : We appeal to you, brothers & sisters Every state, not only those with penalties. One nation, with liberty & justice for all Why should other states care? : 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. What is ssfairness.com? : What is ssfairness.com? A nation wide all-volunteer group of active & retired public service employees, working to REPEAL GPO/WEP. Sign up on ssfairness.com for Action Alerts so we can unlock the hold on our earned benefits. Coalition to Assure Retirement Equity (CARE) 43 national, state & local organizations : Coalition to Assure Retirement Equity (CARE) 43 national, state & local organizations Supporting & connecting groups across the country, working to repeal GPO & WEP. Is your professional association working with CARE? Be a part of the action! Slide 38: Educate yourself- read Write letters/emails Share widely Motivate others Persevere What can one person do? Yes, fairness can prevail : with your help! Yes, fairness can prevail YOU Changes to PowerPoint should be approved Dedication : 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. 1-4 million lives affected Estimates vary according to source YOU can make a difference! Be the voice for change : YOU can make a difference! Be the voice for change Sign up on ssfairness.com for Action Alerts and ….. Do not give up! Then…. Talk, talk, talk Write, write, write!