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The Windfall Elimination Provision (abbreviated WEP [1]) is a statutory provision in United States law [2] 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 ...
Retirement Insurance Benefits (abbreviated RIB [1]) or old-age insurance benefits [2] are a form of social insurance payments made by the U.S. Social Security Administration paid based upon the attainment of old age (62 or older). Benefit payments are made on the 3rd of the month, or the 2nd, 3rd, or 4th Wednesday of the month, based upon the ...
Retirement, Survivors, Disability Insurance (RSDI) or Title II system [1] was part of Franklin D. Roosevelt 's New Deal during the Great Depression. [2] [3] The insurance took to the form of social security payments for widows with a family to support, disabled people and others in need of money who were not able to support themselves.
Social Security Act of 1935; Other short titles: Social Security Act: Long title: An Act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment laws; to ...
Informal names for SSDI include Disability Insurance Benefits (DIB) and Title II disability benefits. These names come from the chapter title of the governing section of the Social Security Act. The original Social Security Act of August 1935 did not include SSDI. Rather, SSDI was put into effect in July 1956 after two decades of policy debates.
A poster for the expansion of the Social Security Act. In the original 1935 law, the benefit provisions were in Title II of the Act (which is why Social Security is sometimes referred to as the "Title II" program.) The taxing provisions were in a separate title (Title VIII) (for reasons related to the constitutionality of the 1935 Act).
Social Security Fairness Act. To amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions. The Social Security Fairness Act is a proposed United States law that would repeal the Social Security Government Pension Offset and Windfall Elimination Provision. [1]
The Employee Retirement Income Security Act of 1974 ( ERISA) ( Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions ...