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Proposed Changes to Social Security for Public Employees: SSA Actuary Estimates Financial Effects (PDF)
Office of the Chief Actuary, U.S. Social Security Administration [SSA] 
July 13, 2016
"[This letter provides an] estimate of the financial effects on the Social Security Trust Funds of the amendment in the nature of a substitute ... for H.R. 711, the 'Equal Treatment of Public Servants Act of 2015' ... This amendment would generally replace the windfall elimination provision (WEP) with a new formula that you have referred to as the 'Public Servant Fairness Formula' (PSF). The proposal would also provide for a rebate payment starting in 2018 for individuals affected by the current WEP."
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