A recent letter about the “windfall elimination penalty” (WEP) and its damaging ability to wipe out earned retirement income for those who have accrued municipal and Social Security benefits during their careers deserves everyone’s support.
This horrible penalty exists in only eight states including Massachusetts. Also consider that Massachusetts municipal workers are not enrolled in the Social Security system, which raises a larger set of economic equity concerns.
For some, the WEP is viewed as a valid method to deny “windfall” payments and “double dipping.” Alternatively, others see these payments as earned income based on years of hard work and payroll deductions. Also that Social Security was designed to be a supplement or a minimal form of income and not a primary benefit subject to dilution or elimination.
Sadly for many, it is their primary income. This issue is a part of our larger national landscape in which income, wealth and savings for many has been paralyzed. This has shattered the American dream that all can climb the ladder to economic, residential and social equity.
A recent eloquent Gazette column by Margaret Christie with CISA pointed out that 50% of Americans possess only 3% of U.S. wealth and that 1% of Americans control 32% of U.S. wealth. And a recent Gazette column by Professor Jon Huer pointed out how economic and wealth gaps were important factors in the fall of the Roman Empire.
There is good news in that Congressman Garrett Graves (D-La.) has announced 290 co-sponsors for his bill, H.R.82: The Social Security Fairness Act to eliminate the WEP. Rep. Graves states, “The last thing we need to do is defund our police officers, firefighters, teachers and civil workers. The WEP is a severe penalty that can deny much of a public servant’s retirement earnings.”
One final thought is that Holland has a national pension system that is not “welfare” or “socialism” but is based on a combination of worker-employer contributions, and investment performance. Why not in the U.S.?
Terry Masterson
Amherst