Wep For 2024 Is 587. The report explained that “in 2024, the wep reduces the share of the first $1,174 of average indexed monthly covered earnings that social security benefits replace, from 90% to. The windfall elimination provision (wep) and the government pension offset.
The report explained that “in 2024, the wep reduces the share of the first $1,174 of average indexed monthly covered earnings that social security benefits replace, from 90%. If a person becomes eligible for social security benefits in 2024, and they have 20 or fewer years of covered earnings, the windfall elimination provision changes the formula.