On January 5, 2025, President Biden signed the bipartisan Social Security Fairness Act (SSFA) into law. The SSFA repealed two provisions that were often criticized for reducing Social Security benefits for individuals who receive public pensions based on earnings not covered by Social Security. These changes will retroactively take effect for benefits received after December 2023. The SSA is currently working on how to implement the repayment process for those affected. The Government Pension Offset (GPO), enacted by Congress in 1977, historically reduced or eliminated Social Security spousal and survivor benefits who received non-covered benefits. The repeal of the GPO will remove the barrier and restore benefits to roughly 750,000 recipients, according to published data as of December 2023. The Windfall Elimination Provision (WEP), enacted in 1983, reduced but never eliminated a worker’s Social Security retirement or disability benefit who lacked 30 years of substantial years of Social Security earnings and who also received a pension based on non-covered work. The WEP impacts roughly 2 million income beneficiaries. This is so so great I'm so happy

Posted by Suze at 2025-01-07 22:08:25 UTC