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Title: Equal Treatment for Public Employees Act of 2023
Vote Smart synopsis:
Modify and phase in a new funding formula for determining benefits under the Windfall Elimination Provision (WEP), which reduces Social Security retirement and disability benefits for pension recipients in certain non-covered employment. Please vote to pass the bill.
Highlights:
Amends and phases in a new funding formula for determining benefits under the Windfall Elimination Provision (WEP), which reduces Social Security retirement and disability benefits for people receiving pensions in certain non-covered employment. (Articles 2 to 5).
The new formula specifies that an individual’s total lifetime earnings be adjusted based on the percentage of income that is subject to Social Security payroll taxes. This applies to the following individuals (sections 2-5):
Provides that beneficiaries eligible for benefits from 2025 to 2067 will receive higher benefits calculated based on the existing WEP or the new formula, and provides that certain beneficiaries currently affected by the WEP (Articles 2 to 5).
Requires the Social Security Administration to include non-covered income on Social Security account statements and explores the feasibility of partnering with certain pension plans to address data-sharing issues related to non-covered pensions. (Article 6).
More information about this vote
Note: This bill required a two-thirds majority to pass
