Social Security Fairness Act set to get Biden's signature

President Biden is set to sign the Social Security Fairness Act on Sunday, January 5, which aims to extend full Social Security benefits to nearly 3 million U.S. retirees. This legislation, long-awaited by advocates, will eliminate two federal policies that currently prevent certain public service workers—such as police officers, firefighters, teachers, and other pension recipients—from receiving their full Social Security benefits.

Senate Majority Leader Chuck Schumer celebrated the passage of the bill on December 21, describing it as a correction of a longstanding inequity. Various organizations representing public service workers have indicated that Biden’s signing of the bill is imminent, highlighting the ongoing efforts of leaders like Edward Kelly of the International Association of Fire Fighters, who have advocated for this change on Capitol Hill for years.

The Social Security Fairness Act will repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which currently reduce Social Security benefits for nearly 3 million retirees who also receive pensions from jobs not covered by Social Security. This adjustment is estimated to impact approximately 2 million beneficiaries under WEP and nearly 800,000 affected by GPO, ensuring that those public service workers and their families receive the benefits they have earned.

Despite bipartisan support, the measure faced opposition concerning its projected cost, which the Congressional Budget Office estimated would add $195 billion to federal deficits over the next decade. Supporters of the bill, including Republicans like Bill Cassidy, argued that addressing Social Security funding issues should not come at the expense of retirees who have dedicated their careers to public service.

Once the bill is signed into law, it will be retroactive to January 2024, allowing eligible recipients to receive full payments backdated to a year ago. The Social Security Administration is preparing to implement these changes and advises individuals affected by the offsets to confirm their contact information to ensure a smooth transition to full benefits.