New Law Will Change Social Security Opt Ins: Who's Affected
Summary
President Donald Trump signed a new law called the Clergy Act, which allows certain religious leaders who previously chose to opt out of Social Security to change their minds and join the program again. This change applies to a specific group of ministers, members of religious orders, and Christian Science practitioners starting in 2029 or 2030.Key Facts
- The new law, called the Clergy Act, was signed by President Trump on a Tuesday.
- It gives a temporary chance for some clergy who opted out of Social Security to opt back in.
- This change only affects ministers, religious order members without a vow of poverty, and Christian Science practitioners who had an exemption under tax laws.
- Roughly 2,000 people are estimated to have taken the Social Security opt-out.
- Clergy must revoke their exemption by the tax return deadline for the year starting after December 31, 2028, meaning 2029 or 2030.
- Once they opt back in, they cannot opt out again.
- The law does not affect people outside this small group who chose not to participate in Social Security.
- Although it helps clergy get retirement benefits, they still need enough work credits to qualify for Social Security.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
