New Notice and Statement re SS GPO and WEP

[Guest KCW]

According to an NCPERS article, the new Social Security reform bill requires SS opt-out employers to provide a notice to new employees.

NCPERS Article: Social Security Bill Signed Into Law

Quotes from the linked article:

"The Social Security reform bill, HR 743 [Public Law No. 108-203], that impacts public sector employees was signed into law by President Bush on March 2, 2004."

"...Requires employers not covered by Social Security to provide written notice about the GPO [Government Pension Offset provision--KCW] and Windfall Elimination Provision (WEP) to new employees and have these employees sign a statement stating they understand that by working under non-covered employment they could be subject to the Social Security pension offsets.  This provision becomes effective January 1, 2005."

I'll bet more than a few new employees will take a "now you tell me!" attitude once you say "welcome aboard. Now that you're on the team, I thought I'd let you know your Social Security benefits are going to take a hit."

If any of you guys come up with a good notice, keep us in mind and post it here.

Let's hope the Feds publish a safe harbor notice in the next few months.