The Senate has advanced legislation to eliminate the Windfall Elimination Provision and Government Pension Offset, costing hundreds of billions of dollars. This move will impact public-sector workers whose Social Security payments are reduced due to WEP and GPO. Senator Lisa Murkowski, who co-sponsored the legislation, celebrated the victory and highlighted the support from Alaska union leaders. This legislation will benefit Alaskans who have dedicated years of service to roles such as teachers, firefighters, and police officers.
While the new law will invalidate arguments for defined benefits for state workers in Alaska, many Democrats and union-aligned Republicans are expected to push for a return to such benefits in the Alaska Legislature. Alaska union leaders praised Senator Murkowski for her efforts in passing the Social Security Fairness Act, which corrects an injustice that has impacted many public workers in the state.
The WEP and GPO have been in effect for decades, reducing Social Security benefits for workers and retirees who receive pensions from government employment. The bill had bipartisan support in the Senate and will now go to President Joe Biden for approval. It is expected to cost nearly $200 million over a decade and may increase the risk of Social Security insolvency by the mid-2030s. Overall, the passage of this legislation is seen as a positive step in providing full retirement benefits to public workers who have dedicated their careers to serving their communities.
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Photo credit mustreadalaska.com
