Welcome to the latest edition of This Week in Pensions! We have gathered the best stories about pensions and retirement security from the previous week. You need to know this news in the fight for a secure retirement.
The Social Security Fairness Act may see the House floor in the coming weeks.
Introduced in 2023, the Social Security Fairness Act (H.R. 82) seeks to eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) laws. After months of setbacks, U.S. Reps. Garret Graves, R-La., and Abigail Spanberger, D-Va., obtained 218 signatures required to trigger a discharge petition to force a floor vote on the bill in September. Supporters are now hoping that the election results will prompt a vote before new lawmakers take office in January.
Despite a last-minute attempt to table the bill by Reps. Bob Good, R-Va., and Andy Harris, R-Md., the discharge petition requires House Speaker Mike Johnson, who is one of 300 cosponsors of the bill, to call for a floor vote when Congress returns to Washington. The SSFA is on House leadership’s “fast track” list and could be heard as early as next week.
Join our campaign to end WEP & GPO! Send a letter to your legislators today.
Alaska’s election results could pave the way for pensions to return.
This week’s general election results indicate Alaska’s state legislature is shaping up to be more labor-friendly than it has been in previous years. The newly announced speaker of the House, Dillingham Independent Rep. Bryce Edgmon listed “reforming the state’s 401(k)-style retirement system” as one of leadership’s four key principles it’s focused on in the upcoming session. Last session, attempts to restore Alaska’s pension system narrowly missed a passing vote.
In addition, Governor Mike Dunleavy, who has been a vocal opponent of a return to defined benefit pensions, has been slated for potential appointment to a Trump cabinet position, which would could have broader implications on the support for any future bills to provide pensions for public employees.
Be sure to check back next Friday for the latest news in the fight for a secure retirement! For now, sign up for NPPC News Clips to receive daily pension news from across the country directly to your inbox.