President Biden is set to sign a bill that increases Social Security payments for current and former public employees. The Social Security Fairness Act addresses a decades-long disparity in benefits for those who receive retirement payments from both Social Security and public pension systems. While the legislation is hailed by advocates as a victory, it raises concerns about the strain it may place on already struggling Social Security Trust Funds.
WASHINGTON — President Joe Biden on Sunday plans to sign into law a measure that boosts Social Security payments for current and former public employees , affectingAdvocates 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.for recipients if they get retirement payments from other sources, including public retirement programs from a state or local government.
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.” The future of Social Security has become a top political issue and was a major point of contention in the 2024 election. AboutThe policy changes from the new law will heap more administrative work on the Social Security Administration, which is already at its lowest staffing level in decades.
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