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-   -   WTH... WEP? Really? (https://britishexpats.com/forum/usa-57/wth-wep-really-953117/)

Cape Blue Dec 11th 2024 12:52 am

Re: WTH... WEP? Really?
 
I see posting on FB indicating that this is now unlikely to get all the way through.

durham_lad Dec 11th 2024 1:23 am

Re: WTH... WEP? Really?
 

Originally Posted by Cape Blue (Post 13289838)
I see posting on FB indicating that this is now unlikely to get all the way through.

I heard that also. Usual problem I think, being added to other bill(s) to make it too hard to swallow for a successful vote.

lansbury Dec 11th 2024 5:32 am

Re: WTH... WEP? Really?
 

Originally Posted by Cape Blue (Post 13289838)
I see posting on FB indicating that this is now unlikely to get all the way through.

Was it ever likely to get through. It was introduced for a logical reason, and it would be costly to remove. Surprised it got this far, would have been nice mind.

porkedpie Dec 12th 2024 3:46 am

Re: WTH... WEP? Really?
 
Schumer said he will call a vote
https://federalnewsnetwork.com/congr...s-act/slide/1/
https://www.govexec.com/pay-benefits...-bills/401603/

durham_lad Dec 12th 2024 3:50 am

Re: WTH... WEP? Really?
 

Originally Posted by porkedpie (Post 13290064)

will he have enough votes to avoid a filibuster I wonder?

porkedpie Dec 12th 2024 7:40 am

Re: WTH... WEP? Really?
 
It has 62 cosponsors so unless someone who is cosponsoring the bill decides to vote against or not to override the filibuster, then it should pass...
Stranger things have happened.

durham_lad Dec 12th 2024 8:23 am

Re: WTH... WEP? Really?
 

Originally Posted by porkedpie (Post 13290108)
It has 62 cosponsors so unless someone who is cosponsoring the bill decides to vote against or not to override the filibuster, then it should pass...
Stranger things have happened.

Now that we have president elect Trump it will very much depend on whether he agrees to the increased spending of SS if WEP and GPO are eliminated. If he doesn’t agree then he will easily persuade a few Republicans to change their mind.

Goldenkey2024 Dec 13th 2024 8:24 am

Re: WTH... WEP? Really?
 
I got an Email to say that the Bill is coming up for vote on 12/16/2024...

https://www.democrats.senate.gov/202...cember-16-2024

S Folinsky Dec 13th 2024 8:41 am

Re: WTH... WEP? Really?
 

Originally Posted by Goldenkey2024 (Post 13290267)
I got an Email to say that the Bill is coming up for vote on 12/16/2024...

https://www.democrats.senate.gov/202...cember-16-2024

My spouse was notified the same by her LA County Retirement plan.

From the amusing part of things, my now former Congressman, voted for the bill, and now will have the opportunity to vote as a newly sworn in senator.

Pierre_Tete Dec 14th 2024 4:38 am

Re: WTH... WEP? Really?
 

Originally Posted by S Folinsky (Post 13290272)
my now former Congressman, voted for the bill, and now will have the opportunity to vote as a newly sworn in senator.

As yes, Mr. Shifty who I believe is on Trump's retribution list. Is he already sworn in as a senator, serving the remainder of this congress before the start of his full 6-year term?


S Folinsky Dec 14th 2024 7:32 am

Re: WTH... WEP? Really?
 

Originally Posted by Pierre_Tete (Post 13290340)
As yes, Mr. Shifty who I believe is on Trump's retribution list. Is he already sworn in as a senator, serving the remainder of this congress before the start of his full 6-year term?

In the November ballot, Messrs. Schiff and Garvey were on the ballot twice - first for the balance of Sen. Feinstein’s and second for the new 6 year term starting January 3rd. Rep. Schiff won both elections.

davebb Dec 14th 2024 8:48 am

Re: WTH... WEP? Really?
 

Originally Posted by durham_lad (Post 13290111)
Now that we have president elect Trump it will very much depend on whether he agrees to the increased spending of SS if WEP and GPO are eliminated. If he doesn’t agree then he will easily persuade a few Republicans to change their mind.

Anyone with half a brain should realize that WEP is entirely justified for US public employees who literally opted out of paying social security so they could boost their public pension and shouldn't be repealed. It's a worthwhile provision, though poorly implemented. Musky should be on top of that, but I'm sure he won't be. Trump's government will be more incompetent than most previous ones, but incompetence is ingrained in US government in general.

Having said that, it's often unfair for those of us with foreign pensions of one sort or another, for which SS tax was never due. Has anyone ever tried arguing that the basic UK New State Pension is not actually a "pension based on work"? It's a pension based on credits, which may or may not come from work. There are many other ways to get credits. https://www.gov.uk/national-insuranc...ts/eligibility Unlike Social Security, the amount you get isn't determined by how much you earned or how much you paid in, and technically shouldn't be affected by WEP, in my opinion. Other countries' pensions are exempt from WEP for various reasons, like if your country gives a universal pension through citizenship. Even if this bill progresses the Senate may well catch on that they forgot about foreign pensions and continue it just for those.

durham_lad Dec 14th 2024 7:06 pm

Re: WTH... WEP? Really?
 

Originally Posted by davebb (Post 13290369)
Anyone with half a brain should realize that WEP is entirely justified for US public employees who literally opted out of paying social security so they could boost their public pension and shouldn't be repealed. It's a worthwhile provision, though poorly implemented. Musky should be on top of that, but I'm sure he won't be. Trump's government will be more incompetent than most previous ones, but incompetence is ingrained in US government in general.

Having said that, it's often unfair for those of us with foreign pensions of one sort or another, for which SS tax was never due. Has anyone ever tried arguing that the basic UK New State Pension is not actually a "pension based on work"? It's a pension based on credits, which may or may not come from work. There are many other ways to get credits. https://www.gov.uk/national-insuranc...ts/eligibility Unlike Social Security, the amount you get isn't determined by how much you earned or how much you paid in, and technically shouldn't be affected by WEP, in my opinion. Other countries' pensions are exempt from WEP for various reasons, like if your country gives a universal pension through citizenship. Even if this bill progresses the Senate may well catch on that they forgot about foreign pensions and continue it just for those.

The work related portion of the UK OAP is taken into account when calculating WEP. When looking at your NI record it is very clear which years had credits due to work in the UK and which are due to voluntary contributions. When applying for SS and you are due or receiving OAP you must complete and send in SSA-308 which has a section where you enter the periods of voluntary contributions. My wife has been through this process and I am currently in the process now of applying for SS and the status of my claim is “waiting for review by an agent in London”. In my particular case my other work related UK private pensions will maximize the WEP regardless of my OAP.

davebb Dec 15th 2024 2:37 am

Re: WTH... WEP? Really?
 

Originally Posted by durham_lad (Post 13290397)
The work related portion of the UK OAP is taken into account when calculating WEP. When looking at your NI record it is very clear which years had credits due to work in the UK and which are due to voluntary contributions. When applying for SS and you are due or receiving OAP you must complete and send in SSA-308 which has a section where you enter the periods of voluntary contributions. My wife has been through this process and I am currently in the process now of applying for SS and the status of my claim is “waiting for review by an agent in London”. In my particular case my other work related UK private pensions will maximize the WEP regardless of my OAP.

It's not clear at all that this payment from 2006-7 is a voluntary contribution. It wasn't my point, though. Since WEP should come into effect for pensions earned by work for which SS tax was not paid, I'm arguing that the UK New State Pension shouldn't be affected at all. It's based on credits, not work, and unlike social security the amount you earned doesn't affect it.
https://cimg3.ibsrv.net/gimg/british...39171ef912.jpg

durham_lad Dec 15th 2024 3:33 am

Re: WTH... WEP? Really?
 

Originally Posted by davebb (Post 13290429)
It's not clear at all that this payment from 2006-7 is a voluntary contribution. It wasn't my point, though. Since WEP should come into effect for pensions earned by work for which SS tax was not paid, I'm arguing that the UK New State Pension shouldn't be affected at all. It's based on credits, not work, and unlike social security the amount you earned doesn't affect it.
https://cimg3.ibsrv.net/gimg/british...39171ef912.jpg


I don’t know if UK self employment counts as exempt from WEP or not, which is why an agent in the FBU in London is required to review the application and determine how much WEP is applied.


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