President Joe Biden signed the Social Security Fairness Act, a measure that increases Social Security payments for current and former public employees. The law aims to address a decades-old disparity by ensuring that individuals receiving pensions from other sources, like state or local governments, don't have their Social Security benefits reduced. While applauded by advocates, the law is expected to strain Social Security Trust Funds, which are facing a potential insolvency crisis.
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 crisisPresident Joe Biden on Sunday signed into law the Social Security Fairness Act, a measure that boosts Social Security payments for current and former public employees .
Edward Kelly, president of the International Association of Fire Fighters, said firefighters across the country are “excited to see the change — we’ve righted a 40-year wrong.” Kelly said the policy was “far more egregious for surviving spouses of firefighters who paid their own quotas into Social Security but were victimized by the government pension system.”
National Education Association President Becky Pringle said the law is “a historic victory that will improve the lives of educators, first responders, postal workers and others who dedicate their lives to public service in their communities.” Full retirement age, also called"normal retirement age," was 65 for many years, until 1983, when Congress passed a law to gradually raise the age.
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