Routing: 313082838
New Social Security Benefits Signed Into Law REPEALING the "Windfall Elimination Provision" (WEP) and "The Government Pension Offset"!
InvesTex Credit Union is working with Jason Stepanik, with SF Planning Group, LLC, to help assist those members with questions regarding the new Social Security Benefits. See below...
On January 5th President Biden signed the Social Security Fairness Act officially repealing the Windfall Elimination Provision and the Government Pension Offset. The WEP and GPO provisions were designed to reduce and, in some cases eliminate Social Security benefits for individuals that receive a government pension, Teachers receiving TRS, Firefighters, and Police. It is estimated that the average recipient subject to WEP/GPO will see a monthly benefit increase of approximately $460 per month and more than $1,000 for some spouses of affected workers. Another added benefit is the new law is retroactive for calendar year 2024. This could create a substantial windfall for any members that are subject to WEP or GPO.
So, what is next? We are still waiting on the Social Security Administration to provide details on how and when they will begin disbursements. If you are currently claiming Social Security, benefit increases should be automatic. If you have not claimed benefits you will need to schedule a meeting with the Social Security Administration to review your options. In the meantime, please go to www.ssa.gov/myaccount and make sure the Social Security Administration has your correct contact information. You can also view updates at www.ssa.gov/benefits/retirement/social-security-fairness-act.html. Lastly, it is a great time to develop a plan for any potential windfall or increase in monthly benefits.
If you have any questions on how these changes may impact your personal situation, please feel free to contact me.
Jason Stepanik CFP®, CIMA®
Founder-Lead Planner
SF Planning Group, LLC
jason.stepanik@sfpgrp.com
www.sfpgrp.com
InvesTex Credit Union will hold its Annual Meeting on Wednesday, April 23rd, 2025 at 6:00pm. The Annual Meeting will be held at the InvesTex Credit Union Board Room which is located at 8404 FM 1960 Bypass Road W, Humble, Texas 77338.
5:30pm-6:00pm: Refreshments
6:00pm: Meeting Begins
RSVP by 5:00pm on Friday, April 18th, 2025 to Jana (Anders) Gonzales.
janders@investexcu.org or 281-506-1223
InvesTex Credit Union will be awarding six (6) $2,000 Scholarships. We are proud to make these scholarships available for higher education. Please click on the application link below for eligibility, required documents, and due date.
Click here for application. (Deadline is January 31, 2025)
Scholarship recipients will be notified by phone and will be recognized on InvesTex Credit Union social media (Facebook and Instagram).
For questions or more information, please contact Jana (Anders) Gonzales at 281-506-1223, or email janders@investexcu.org.
Insurance is essential and the premiums can be a substantial expense each month. InvesTex now accepts vehicle insurance policies with up to $2,000 as a deductible.
You can save on insurance premiums through higher deductibles. Consult with your insurance provider regarding the cost/benefit of a high deductible vehicle insurance policy.
In the event you need to pay the $2,000 deductible we have a Special Signature Loan rate:
Up to 36 months 6.99% APR*
Speak to a Member Representative for more information.
*Rate and term as of July 1, 2024 and subject to change without notice. APR means Annual Percentage Rate. Rate and terms are specific use for vehicle deductible coverage when an accident is incurred.
Please click here for the BID form.
Once completed please email to collections@investexcu.org.
From left to right:
Please Enroll today to access your accounts.
IF YOU ARE A CURRENT ONLINE/MOBILE BANKING USER YOU MUST RE-ENROLL!
Items you will need:
*Account #
*Social Security #
*Date of Birth
Please note that you will need to create a:
-New username
-New Password
Once logged in you will see a NEW look! Be sure to set-up any alerts you may have had previously set-up on the prior online platform.
Also, you will need to Enroll your Credit Card and set-up alerts.
Features will include:
*Member to Member Transfers
*Transfer Money to and from other Financial Institutions – Now Available!
*Schedule Recurring Transfer to and from other Financial Institutions
*Debit Cards can be turned off and on as needed
*Customizable Dashboard
*New Design and Easy to Navigate
New and Enhanced Online Banking Login
Ms. Catherine Paraschos celebrates her 40th year on the Board with InvesTex Credit Union. She currently serves as the Chair of the Board. A long-time member, she joined the credit union in 1976 and began serving as a volunteer on the Board in 1981. During Ms. Paraschos’ tenure on the Board the credit union successfully grew from $7 million in assets to over $265 million bringing many enhanced services and significant technology to the membership. She is retired from Aldine ISD, serving the school district for over 30 years.
Thank you for your service!
