President Joe Biden on Sunday signed into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs.Advocates say the Social Security Fairness Act rights a decades-old disparity, though it will also put strain on Social Security Trust Funds, which face a looming insolvency crisis.The bill rescinds two provisions β the Windfall Elimination Provision and the Government Pension Offset β that limit Social Security benefits for recipients if they get retirement payments from other sources, including public retirement programs from a state or local government.βThe 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 β that’s the entire purpose of the Social …
Higher Social Security payments coming for millions of people from bill that Biden signed [Video]
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