President Joe Biden on Jan. 5, 2025 signed into law a measure that boosts Social Security payments for current and former employees , affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers, and other public service jobs, the AP website reports today (Jan. 6, 2025).
Advocates say the Social Security Fairness Act rights a decades--old disparity, though it will also put a strain on Social Security Trust Funds, which face a looming insolvency crisis.
The bill rescinds two provisions -- the Windfall Elimination Provision and t he Government Pension Offset -- that limit Social Security benefits for recipients if they get rertirement payments from other sources, including public retirement programs from a state or local government.
"The bill I'm signing today is about a simple proposition : Americans who have worked hard all their life to earn an honest living should be able to retire with economic security and dignity -- that's the entire purpose of t he Social Security system," Biden said during a signing ceremony in the White House East Room.
Biden was joined by labor leaders, retirement advocates, and Democratic and Republican lawmakers.
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