President Biden signed the Social Security Fairness Act, eliminating provisions that reduced benefits for public sector retirees, including teachers, firefighters, and police officers.
The law removes the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), increasing monthly benefits by an average of $360 for affected individuals. Over 2.5 million retirees will also receive lump-sum payments for missed benefits.
While supporters call it long-overdue fairness, critics warn of potential financial strain on the Social Security trust fund. Implementation details are pending from the Social Security Administration.
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