Hi, I’m Devin Choules, Founder and CEO of Choules Financial.
On this week’s episode of The Key to Yes, we’re covering some important changes to Social Security—specifically the potential end of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These programs have been in place since the 1980s, and the upcoming changes could significantly impact your benefits.
Why Social Security Is So Complicated
If you’ve ever attended one of my Social Security education events, you’ve heard me talk about the “alphabet soup” of acronyms:
FRA – Full Retirement Age
PIA – Primary Insurance Amount
AIME – Average Indexed Monthly Earnings
DRC – Delayed Retirement Credits
WEP – Windfall Elimination Provision
GPO – Government Pension Offset
COLA – Cost of Living Adjustment
Social Security isn’t just about choosing between age 62, 67, or 70. There are many moving parts, and today we’re focused on a major change involving WEP and GPO that goes into effect January 2025.
What’s Changing and Why It Matters
These two provisions were originally designed to reduce Social Security benefits for people who worked in jobs not covered by Social Security (like many public sector or government roles) but also earned Social Security benefits through other jobs.
In practice, this meant that:
If you received a government pension, your Social Security benefit was reduced or eliminated—even if you paid into Social Security from a previous or second career.
If your spouse passed away, and they had earned Social Security, you could be denied survivor benefits if you were receiving a pension from non-covered employment.
But that’s now changing.
Real-Life Example: Why This Matters
One of my clients, Anne, worked for the State of California, which doesn’t participate in Social Security. She paid into a state pension. Her husband worked for the State of Utah, where he earned both a pension and Social Security.
When her husband passed away, Anne expected to receive his Social Security benefits—but due to WEP and GPO, she was denied both her own and his. She paid into Social Security earlier in her life and still got nothing.
With the elimination of these two provisions, Anne is now eligible to receive survivor benefits, and that’s a game-changer. There are up to 3 million Americans who could be positively impacted by this change—nearly 10% of current Social Security recipients.
What You Should Do Next
If you’re currently affected—or might be—here are three action steps:
Contact the Social Security Administration to verify whether these changes apply to your situation.
Confirm your direct deposit details and address are up to date.
Be patient—they’ve already started sending updated checks, but the full rollout could take up to a year.
How This Affects Your Retirement Plan
An increase of $1,500–$3,000 per year in benefits may sound modest, but it can significantly impact your:
Spending ability
Tax situation
Withdrawal strategy from retirement accounts
That’s why we always emphasize planning for all five key areas of retirement:
Investments
Income
Taxes
Healthcare
Legacy & Estate Planning
Each area impacts the others, and changes like this show why a comprehensive plan matters.
If you think the Windfall Elimination Provision or Government Pension Offset might apply to you—or if you’re not sure—reach out to us. We’re happy to help you understand how these updates could impact your benefits.
That’s it for this week’s Key to Yes.
As always, don’t forget to like, subscribe, and follow—and we’ll see you next week!
