Quarter 1, 2025
Happy New Year 2025!
We hope everyone had happy and healthy holidays!
The election is behind us, now we will see what changes there will be for taxes, legislation, and many other topics. As things develop, we will communicate any changes that may affect you.
Social Security Update: WEP Repeal & Scam Alert
Windfall Elimination Provision (WEP) Update
In January 2025, President Biden signed the Social Security Fairness Act, repealing the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These rules previously reduced Social Security benefits for public employees with non-Social Security-covered pensions. The repeal restores full benefits for affected retirees, including teachers, firefighters, and police officers, with retroactive payments from January 2024.
With this change, the bad actors are using this to try and scam people out of their personal information. Fraudsters posing as SSA employees may falsely claim there’s an issue with your benefits or they may ask you for your personal information such as social security number and date of birth. The Social Security Administration will not call you over the phone. If they need to reach you, they will typically mail you a letter. The exception to this is if you have recently applied for Social Security benefits - or if you have specifically requested a phone call from them.
What to Do?
Hang up if pressured for info or payment.
Never share your SSN or banking details.
Verify by calling SSA directly at 1-800-772-1213.
Report scams at oig.ssa.gov.
Thanks to those that have sent us 2024 tax returns! If you haven’t, please do so once complete, or before, if you would like for us to review them prior to filing.
Save the date!
If you haven’t already—please save the date of April 17th for our next Client Appreciation Party. It will be held at Crashed Toys in Dallas. We will be sending out more information over the next several weeks. We do have a block of rooms held for those who will want to stay overnight close by at Virgin Hotel on Turtle Creek Blvd. Discounted Group Rate is $239/night plus applicable taxes. We will provide a link once we have one for your reservation. We will have a brunch on April 18th for all staying at the hotel—or anyone wanting to join us.
On a personal note:
A quick update on John, we are back in Denver where he is having another round of chemo. Apparently, the leukemia has jumped from his bone marrow, which remains cancer-free, and found a home in his lymph nodes. The plan at this time is to get the cancer into remission, then give him either a stem cell booster from his current donor or find a new one. It is uncertain at this time how long we will be here.
“What the new year brings to you will depend a great deal on what you bring to the new year.”
Here is the required Privacy notice and the updated ADV and other documents to satisfy the annual reporting requirements.
At this time, we are also making our annual offer to provide you with the AFG current disclosure statement which is set forth on the Part II of Form ADV and will be mailed upon your request. The ADV Part 2 and Part 2B Brochure and Supplement are available as well. Additional information regarding AFG and Laura Addington and Laura Brown are available on the SEC’s website at www.adviserinfo.sec.gov.
Contact Information
866.220.7788 is the number to use to leave a message. Please do not leave voice mails on home or cell numbers as they are unreliable—it is unlikely you will receive a return call from these numbers.
Email is always good as it also comes through to our cell phones.
It is OK to send texts to our cell phones, but we can’t accept trade orders or other financial requests via text as they cannot be saved to the satisfaction of the SEC.
laura@addingtonfg.com Laura Addington ld@addingtonfg.com Laura Brown
The mailing address has not changed, PO Box 143, Winnsboro, TX 75494.
Please contact us at any time should you have any questions or concerns.