President Biden signed the Social Security Fairness Act, a bipartisan bill that repeals provisions that reduced Social Security benefits for public workers receiving pensions. This will increase benefits for approximately 3 million workers, with an average monthly increase of $360.
On Sunday, President Joe Biden signed the Social Security Fairness Act , paving the way for nearly 3 million public workers to boost their Social Security benefits. The bipartisan legislation repeals two provisions that reduced Social Security benefits for certain public workers who also receive pension income. The Windfall Elimination Provision, or WEP, and the Government Pension Offset, or GPO — that have been in place for more than four decades.
The WEP reduces Social Security benefits for individuals who receive pension or disability benefits from employment where Social Security payroll taxes were not withheld. As of December 2023, that provision affected about 2 million Social Security beneficiaries. The GPO reduces Social Security benefits for spouses, widows and widowers who also receive income from their own government pensions. In December 2023, the GPO affected almost 750,000 beneficiaries. 'By signing this bill, we're extending Social Security benefits for millions of teachers, nurses and other public employees and their spouses and survivors,' Biden said Sunday. 'That means an estimated average of $360 per month increase.'More than 2.5 million Americans will receive a lump sum payment of thousands of dollars to make up for the shortfall in benefits they should have received in 2024, Biden said. The Social Security Fairness Act will affect Social Security benefits payable after December 202
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