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INFO4U - Social Security & Foreign Pension |
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Monday, 18 June 2007, 03:36 PM |
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(WEP) Social Security benefits reduced to individuals who have foreign pension
SS pensioners may find that their benefits are reduced by one dollar for every two dollars received in foreign pension. As one American abroad recently wrote ACA, \"My small, meager and partial monthly allotment, being chopped about a 1/3 from what I ought to get before the WEP reduction, ... is not even enough to cover my medical expenses monthly.\"
Senate bill S.206 introduced by Senator Diane Feinstein (D-CA) and House bill H.R.82 introduced by Reps. Howard Berman (D-CA) and Howard “Buck” McKeon (R-CA) in January 2007 would eliminate the (in-)famous Windfall Elimination Provision (WEP) that reduces Social Security benefits paid to individuals who have another pension based on income not subjected to Social Security tax – as in foreign pensions. This also affects many military and state government retirees (teachers, police officers, firefighters).
The current bills have numerous cosponsors (some 270 in the House), giving this legislation a serious chance of passing. Encourage your congressional representatives to get on the bandwagon if s/he is not already endorsing it. Fax, hard copy letters or phone calls remain the most effective way to contact congressional offices, and expect to speak with a \"staffer\" specialized in the area of Social Security rather than the congressperson him/herself.
SOURCE: American Citizens Abroad www.aca.ch/cadtopic.htm
Andee Goldman
k9andee@hotmail.com
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