The Windfall Elimination Provision (abbreviated WEP) is a statutory provision in United States law which affects benefits paid by the Social Security Administration under Title II of the Social Security Act. It reduces the Primary Insurance Amount (PIA) of a person's Retirement Insurance Benefits (RIB) or Disability Insurance Benefits (DIB) when that person is eligible or entitled to a pension based on a job which did not contribute to the Social Security Trust Fund. While in effect, it also affects the benefits of others claiming on the same social security record.
Read more about Windfall Elimination Provision: History, Applicability, Computation, Effects On Benefits
Famous quotes containing the words elimination and/or provision:
“The kind of Unitarian
Who having by elimination got
From many gods to Three, and Three to One,
Thinks why not taper off to none at all.”
—Robert Frost (1874–1963)
“Why should the generations overlap one another at all? Why cannot we be buried as eggs in neat little cells with ten or twenty thousand pounds each wrapped round us in Bank of England notes, and wake up, as the Sphinx wasp does, to find that its papa and mamma have not only left ample provision at its elbow but have been eaten by sparrows some weeks before we began to live consciously on our own accounts?”
—Samuel Butler (1835–1902)