Description
The Social Security Fairness Act marks a significant change in how Social Security benefits are calculated for individuals receiving pensions from state or local governments or other non-Social Security taxed employment. Join former Social Security Director Kurt Czarnowski to gain the knowledge to help clients navigate these changes effectively.
Key Topics Covered:
1. **Overview of the Social Security Fairness Act**
- A detailed explanation of the provisions repealed by the Act.
- Insights into how these changes aim to create a fairer system for retirees and their families.
2. **Eliminating the Government Pension Offset (GPO)**
- Understanding how the repeal of the GPO impacts spousal, widow, and widower benefits.
- Practical scenarios demonstrating how clients may see increased benefits.
3. **Ending the Windfall Elimination Provision (WEP)**
- Clarifying how the removal of the WEP affects individuals with pensions from non-Social Security taxed employers.
- Strategies to identify clients who stand to benefit from this change.
4. **Effective Date and Client Planning Opportunities**
- Exploring the Act's implementation for benefits payable after December 2023.
- Proactive steps financial advisors can take to optimize their clients’ retirement plans under the new rules.
Who Should Attend?
Financial advisors seeking to:
- Provide enhanced retirement planning for clients impacted by the GPO or WEP.
- Deepen their understanding of Social Security benefits in light of legislative changes.
- Identify new opportunities to deliver value and grow their practice.
Join us to learn how the Social Security Fairness Act reshapes retirement planning and what it means for your clients and your business.
Learning Objectives
Learning Objectives
Understand the Key Provisions of the Social Security Fairness Act
Analyze the changes introduced by the Act, including the repeal of the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP), and their implications for Social Security benefits.
Assess the Impact of GPO and WEP Repeal on Clients
Evaluate how the elimination of these provisions affects spousal, widow, and individual benefits, and learn to identify clients who may experience increased Social Security payouts.
Develop Proactive Client Strategies for the Act's Implementation
Explore actionable planning opportunities to optimize retirement benefits for clients under the new rules effective December 2023, while positioning your practice to address the needs of impacted retirees.