A new law, the Social Security Fairness Act, will increase benefits for millions of public servants, but the Social Security Administration (SSA) warns it could take over a year to process all changes. Funding concerns and a historically low SSA workforce raise worries about implementation speed.
A new law, the Social Security Fairness Act, provides benefit increases for more than 3.2 million individuals including certain teachers, police officers, firefighters and other public servants.
The Social Security Administration is already helping some affected beneficiaries, the agency stated on its website. However, it cannot commit to a timeline as to when it will have processed the benefit increases for everyone affected. The Social Security Administration is funded through a continuing resolution set to expire in the middle of March.
That law affected about 1 million beneficiaries and cost about $65 million to implement in today's dollars, according to Weaver. The new Social Security Fairness Act will affect about three times as many beneficiaries, he said. When the Social Security Fairness Act was first introduced in 2023, the bill called for the changes to go into effect starting with benefits payable for January 2024.
SOCIAL SECURITY LEGISLATION BENEFITS PUBLIC SERVANTS IMPLEMENTATION
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Social Security Fairness Act Delays: Millions Face Year-Long Wait for BenefitsThe recently passed Social Security Fairness Act, aimed at expanding benefits for millions of retired public servants, is facing significant implementation delays due to funding and staffing limitations. The Social Security Administration (SSA) warns that affected beneficiaries may have to wait up to a year or longer to receive their full benefits and retroactive payments.
Read more »
Social Security Benefit Delays Expected for Millions Due to Fairness Act ImplementationMillions of retired teachers, firefighters, police officers, and other public pensioners may face delays of up to a year or more in receiving the benefits promised by the Social Security Fairness Act. The Social Security Administration (SSA) cites a lack of funding and staffing as major obstacles to implementing the new law's retroactive payments and future benefit adjustments.
Read more »
Social Security Fairness Act: Benefits Increase But Delays ExpectedThe Social Security Fairness Act is set to increase benefits for certain beneficiaries, but the Social Security Administration warns that it could take over a year to process all retroactive payments.
Read more »
Social Security Fairness Act: Benefit Increases Expected, But Delays PossibleThe Social Security Fairness Act aims to increase benefits for certain individuals affected by previous provisions that reduced payouts based on pension income. While retroactive payments and increased monthly benefits are promised, the Social Security Administration warns that processing could take over a year due to budget constraints. Affected beneficiaries are advised to update their contact information and consider applying for benefits if newly eligible.
Read more »
Social Security Fairness Act to Increase Benefits for Millions, but Delays ExpectedThe Social Security Fairness Act will boost benefits for over 3 million individuals by eliminating provisions that previously reduced benefits for those with pensions from non-Social Security covered jobs. However, the Social Security Administration warns that affected beneficiaries may have to wait over a year to receive the increased payments, which will vary depending on individual circumstances.
Read more »
Are Social Security Offices Closed Today? Hours for Inauguration, MLK DayMany Social Security recipients may be wondering if their local Social Security office is open Monday.
Read more »