Social Security Act

[James48843]

President Biden signed the Social Security law change today.

The Social Security Fairness Act had bipartisan support, yet faced last-minute objections from some Republicans due to its cost. According to the Congressional Budget Office, the law would add an estimated $195 billion to the federal deficit over a decade.

The benefits hike under the new law would be retroactive to December 2023. As a result, eligible recipients who previously only received partial benefits will get a full payment retroactive to a year ago.

Specifically, the new Social Security law repeals policies known as the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which together act to reduce Social Security payments to 2.5 million retirees.

The Congressional Budget Office estimated in September that eliminating the WEP would increase monthly payments to affected Social Security recipients by an average of $360 by December 2025, according to the Associated Press.

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[James48843]

President Biden signed the Social Security law change today.

The Social Security Fairness Act had bipartisan support, yet faced last-minute objections from some Republicans due to its cost. According to the Congressional Budget Office, the law would add an estimated $195 billion to the federal deficit over a decade.

The benefits hike under the new law would be retroactive to December 2023. As a result, eligible recipients who previously only received partial benefits will get a full payment retroactive to a year ago.

Specifically, the new Social Security law repeals policies known as the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which together act to reduce Social Security payments to 2.5 million retirees.

The Congressional Budget Office estimated in September that eliminating the WEP would increase monthly payments to affected Social Security recipients by an average of $360 by December 2025, according to the Associated Press.

Live | The White House

LIVE White House events and press briefings with President Joe Biden, Vice President Kamala Harris and other administration officials.

www.whitehouse.gov

Anybody here subject to either windfall or the GPO reduction? Anybody here helped?

 

[nasa1974]

Anybody here subject to either windfall or the GPO reduction? Anybody here helped?

CSRS. We will see what happens. I expect it will take a couple of months before we see anything.

 

[Scout333]

Anybody here subject to either windfall or the GPO reduction? Anybody here helped?

CSRS Offset. Per newsfeed re. the Act no action is needed by Soc. Sec. recipients who are affected. Problem is Soc. Sec. is working on a plan to implement the new bill. Could be awhile!

 

[nasa1974]

CSRS Offset. Per newsfeed re. the Act no action is needed by Soc. Sec. recipients who are affected. Problem is Soc. Sec. is working on a plan to implement the new bill. Could be awhile!

I saw an article that said that it could be December before it is fully implemented. I guess it happens when it happens.

 

[Scout333]

I saw an article that said that it could be December before it is fully implemented. I guess it happens when it happens.

Which year? LOL

 

[JTH]

Anybody here subject to either windfall or the GPO reduction? Anybody here helped?

Yes, my dad, who paid into the system from 1973 to 80ish. He was in the military during that time then used his GI bill to become a teacher in Texas. Much of this time he worked 2 jobs, so he has put into the system. Thus because he was in the Teacher's Retirement System, he's been getting shorted on his rightfully earned Social Security.

Not sure what the final outcome will be, maybe enough for for a car payment on a used Yugo.

 

[evilanne]

They are trying to figure it out, do not call them but it is only applicable to payments in 2024 and beyond.

Social Security Fairness Act: Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) update | SSA

Social Security Fairness Act: Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) update

www.ssa.gov

&

President Signs H.R. 82, the<br> “Social Security Fairness Act of 2023

Should apply to my mother. Dad retired military, worked while going to school and then CSRS. My concern is that he's been gone for over 20 years...hope SSA has good records≥