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Important Social Security Changes in 2025 with Hamilton Morales
Manage episode 479103374 series 2852587
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Today, Hamilton Morales, Senior VP and Social Security Strategist at FIG, is taking over as host to walk through some important Social Security changes taking place in 2025.
He explains the newly signed Social Security Fairness Act, which eliminates the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). This change restores full Social Security benefits to millions of public sector workers who were previously penalized and even offers retroactive payments dating back to January 2024.
He also covers important annual updates, including higher taxable wage bases, earnings limits for early retirees, and the new cost-of-living adjustment (COLA). Plus, he previews potential legislation that could eliminate taxes on tips, overtime, and Social Security benefits altogether, while raising important questions about how to protect Social Security’s long-term solvency.
Here’s some of what we discuss in this episode:
📈 Important 2024 and 2025 Social Security changes
🏛️ What is the Social Security Fairness Act?
📉 Impact of eliminating WEP and GPO penalties
💵 Future push for no tax on tips, overtime, and benefits
🛠️ How future reforms could affect Social Security solvency
Learn About FIG: https://www.figmarketing.com
800-527-1155
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