One State Wants to Increase Social Security Payments

By Bo Beard | May 22, 2024

WEP

Alaska is advocating for a change that could result in over 2 million individuals receiving increased Social Security payments each month. 
 

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The windfall elimination provision (WEP) currently diminishes benefits for individuals who have a pension from a job that was not subject to Social Security taxes. 
 

The reduction

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The reduction in seniors' payments is based on the years of substantial earnings from work during which they paid Social Security taxes, with a limitation that the WEP cannot reduce their benefits by more than half of their monthly pension amount.