The curse of Social Security\'s evil twins is still strong. Just ask Senior Correspondent Mike Causey who was struck down, briefly, for daring to mention them in a...
There is a reason elected officials call Social Security the third rail of American politics. That’s because they know if they touch it they will get burned. Badly.
The 600,000 working feds who are under the old Civil Service Retirement System have a love-hate (but mostly hate) relationship with Social Security. That’s because the so-called Windfall (WEP) and Offset (GPO) formulas Congress imposed decades ago can reduce (WEP) a Social Security benefit they earned, or wipe out (GPO) the spousal or survivor benefit they anticipate from a private sector spouse’s Social Security earnings.
Millions of retired CSRS feds, their spouses and people who worked for state or local governments (not covered by Social Security) have also felt the bite of Social Security’s “evil twins.”
For FERS employees, the WEP and GPO formulas are not a problem because they pay into Social Security for their entire federal careers.
Many feds are unaware of the WEP and GPO formulas impact on their Social Security benefit until they attend a pre-retirement seminar. Others don’t learn about until they get their first shrinky-dink Social Security check. Detractors call the two formulas Weap and Goop!
People like me, who should know better, can’t resist touching that third rail from time to time. Usually on a dare, or a question, from a reader. I touched it in Tuesday’s column (read it if you dare!) I had to call in sick Wednesday. The curse of the Evil Twins is still strong!!!
Here are some reader comments on the pros, cons and the original purpose of Social Security. Also some comments on the Evil Twins:
The big problem is Social Security was never intended to be a pension. When Otto Von Bismarck came up with the idea, his purpose was to make German workers dependent on the government for their retirement so they would never overthrow the government. FDR saw it as a wonderful vote buying technique and we have been stuck with it every sense. Look at the Supreme Court ruling when they upheld Social Security. The government stated there were no guaranteed payments, it was simply a tax. Congress could, legally, abolish SSA tomorrow. However, since it has proven to be a wonderful vote buying tool, that will never happen. Frank R. Gotch …the GPO/WEP provisions are extremely harsh to women such as myself who took time off to raise kids and then went back to work later on for the Government. I can only collect half of an already small amount of SS and none of my husband’s. Plus, I didn’t work long enough to build up my pension as a lower wage employee. These laws should be eliminated or at the very least revised. Alice Salmansohn I do not think I qualify, in either category, for Weap or for Goop. When I retire (?eventually?) I plan on having close to, if not exactly, 30 yrs of continuous Federal service as a FERS employee. Just think, the day will come when Weap-ing and Goop-ing will no longer be an issue. Perhaps, as is done when the Last Civil War Widow passed away and when the last World War I vet went to stand post at the Pearly Gates, there will be a big HOOP-LA when the last CSRS retiree (and/or their spouse) passes into the great Government in the sky. Veronica
Nearly Useless Factoid
LBJ’s desk chair in the Oval Office was actually a vinyl helicopter seat.
To reach me: mcausey@federalnewsradio.com
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