The Social Security Fairness Act has been signed into law, enabling over three million retirees and select workers, including teachers and first responders, to receive higher Social Security benefits. This law repeals the Windfall Elimination Provision and the Government Pension Offset, reversing previous penalties for those who have pensions from non-Social Security-covered work. While this is a major benefit increase for many, the SSA will also resume withholding 100% of benefits to recover past overpayments, indicating a nuanced impact on retirees' finances.
This change is primarily aimed at 3.2 million retirees who will benefit from repealing the Windfall Elimination Provision and Government Pension Offset, significantly improving their Social Security benefits.
The Social Security Fairness Act represents a landmark change for retirees who have faced penalties due to having pensions that were based on non-Social Security-covered work.
#social-security #retirement-benefits #social-security-fairness-act #government-pension-offset #windfall-elimination-provision
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