WASHINGTON — President Joe Biden on Sunday plans to sign into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs. Advocates say the Social Security Fairness Act rights a decades-old disparity, though it will also put strain on Social Security Trust Funds, which face a looming insolvency crisis. The bill rescinds two provisions — the Windfall Elimination Provision and the Government Pension Offset — that limit Social Security benefits for recipients if they get retirement payments from other sources, including public retirement programs from a state or local government. The Congressional Research Service estimated that in December 2023, there were 745,679 people, about 1% of all Social Security beneficiaries, who had their benefits reduced by the Government Pension Offset.

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BING NEWS:
  • Higher Social Security payments coming for millions of people
    President Joe Biden on Sunday planned to sign into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receiv ...
    01/5/2025 - 7:12 am | View Link
  • Higher Social Security payments coming for millions of people from bill that Joe Biden signing
    President Biden plans to sign the Social Security Fairness Act into law, impacting nearly 3 million public service retirees, including teachers and firefighters. The act removes limitations on Social ...
    01/5/2025 - 2:41 am | View Link
  • Higher Social Security payments coming for millions from bill Biden's signing
    President Joe Biden is set to sign into law a measure that boosts Social Security payments for current and former public employees ...
    01/5/2025 - 1:51 am | View Link
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    Retirees can expect to see some big changes in 2025 when it comes to their Social Security and Medicare benefits.
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