Page 4 - Demo
P. 4

The Voice of the Retired Public Employee
a year) to be paid within the monthly Social Security bene t. It would begin January 1, 2020 and grow with in a- tion in perpetuity.
In order to be considered “eligi- ble”forSocialSecurityyoumustbe at least 62 years old and have forty or more quarters (10 years) of cov- ered service under Social Security. Whether or not a retiree chooses to collect Social Security is not a factor when determining eligibility.
For everyone  rst eligible to collect Social Security on or after January 1, 2025 a new proportional formula will be used to correctly cal- culate Social Security bene ts based on time spent working under Social Security, vs. time spent working in non-covered service. Beginning in 2025, this new formula will apply to all future bene ciaries.
In addition, the bill also requires the Social Security Administration to include information relative to non-covered service on personal statements and bene t estimates. The fact that current Social Security statements do not include informa- tion relative to WEP is a source of great confusion and anger for those impacted.
It should be noted that in  ling H.R. 6933, Brady and Neal have indi- cated that they view the proposal as a work in progress, rather than a  nal offer. In fact, Brady, in his state- ment accompanying the bill’s  ling, noted that there remains “room for
“There are two main areas of this
proposal that we hope to improve upon. First, we hope to increase the initial rebate beyond the $100 per month currently contained within the bill. We have many members who have witnessed their Social Security bene t reduced by over $400 a month, so there is certainly room for improvement,” said Association Legislative Director Shawn Duhamel.
“Second, is the fact that the cur- rent transition period for ending the 30 Year Rule for new retirees does not go far enough. H.R. 6933 has a six- year transition, which the 2025 date represents. We would like to see the time extended so that anyone near- ing retirement age, who has been playing by the rules, working multiple jobs while paying into Social Security and their public pension system is not unfairly harmed.”
“Getting this bill  led and an of - cial proposal on paper is a big step forward. I thank both Richie Neal and Kevin Brady for their commit- ment to  nding a way to bring relief to the victims of WEP. It is not easy to craft a proposal that satis es our fel- low stake holders and will also have enough votes to pass both the House and Senate,” explains Association President Frank Valeri. “Now that a real proposal has been  led, my hope is that the deal can be struck this year to pass a bill before the end of the lame duck session in December.”
largely applies to public employees working two or more jobs, as well as those entering public service later in life as a second career. In 2018 the threshold for substantial earnings under Social Security is $23,850.
A major concern of Mass Retirees, our coalition partners and our allies continues to be  nding a way to fairly resolve the issue of those active pub- lic employees negatively impacted by the change in the 30 Year Rule. Anyone already retired is grandfa- thered under the current law, which exempts public retirees, with at least 30 years of substantial earnings, from the WEP.
As we have indicated numerous times over the past several years, the current proposal does not involve the Government Pension Offset (GPO). The Republican Leadership has insisted on addressing WEP and GPO as two separate issues within differ- ent legislative proposals, with the WEP being the initial focus.
WHAT’S IN H.R. 6933
Under the proposal contained within H.R. 6933, public retirees impacted by the WEP and eligible for Social Security before January 1, 2025 will receive a monthly rebate for a portion of the bene t lost to WEP. The rebate is currently pro- posed at a  at $100 a month ($1,200
Completing her  rst term as an elected of cial, Attorney General Maura Healey is viewed by many as a rising star in Massachusetts politics. She has quickly become a staunch supporter of public retirees. As AG, Healey plays a direct role in regulat- ing the state’s giant healthcare indus- try. She has also played an important
role in ensuring that state agencies, such as the GIC, follow the open meet- ing and public records laws. See more on page 10.
Next to the State Treasurer, Auditor Suzanne Bump plays a direct daily role in public retirement policy and administration. By statute, the Auditor holds three seats on the Public Employee Retirement Administration Commission (PERAC) and a seat on the Teachers’ Retirement Board. It is
Bump’s role at PERAC, the retirement oversight agency, which is of vital importance to public retirees. During Bump’s two-terms, PERAC has run smoothly and is viewed as a national model.
Mass Retirees enthusiastically endorses Bill Galvin, Maura Healey and Suzanne Bump for reelection. We urge our members to consider casting your vote in their favor.

   2   3   4   5   6