SCHOOL EMPLOYEES RETIREMENT SYSTEM OF OHIO

Retirement

Continued advocacy on the Windfall Elimination Provision (WEP) in the House and Senate. On April 1, Chairman Richard Neal (D-MA) introduced H.R. 2337, a bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision. Monitored H.R. 82, the Social Security Fairness Act of 2021, which repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government, eliminates the government pension offset and the windfall elimination provision. These changes would be effective for benefits payable after December 2021. On April 22, Senator Sherrod Brown (D-OH) reintroduced his bill to amend title II of the Social Security Act to repeal the government pension offset (GPO) and windfall elimination provisions (WEP). The bill is S. 1302. On May 20, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced their bipartisan legislation, S. 1770, a bill to amend the Internal Revenue Code of 1986 to reform retirement provisions, and for other purposes. SERS is following this bill. On May 20, Senators Patty Murray (D-WA) and Tina Smith (D-MN) introduced S. 1762, a bill to amend the Employee Retirement Income Security Act of 1974 to permit retirement plans to consider certain factors in investment decisions. SERS is following the bill. Chairman Richard Neal (D-MA) and Ranking Member Kevin Brady (R-TX), serving on the House Committee on Ways and Means, introduced H.R. 2954, the Securing a Strong Retirement Act of 2021, or SECURE Act 2.0. SERS is following the bill.

TargetedSENATE · HOUSE OF REPRESENTATIVES · Health & Human Services, Dept of (HHS) · Centers For Medicare and Medicaid Services (CMS)