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Ben Fuchs, of Fuchs Financial explains that a new Social Security Bill recently passed. The Windfall Elimination Provision was signed into effect on January 6, 2025. The bill eliminates the reduction of Social Security benefits while entitled to public pensions from work not covered by Social Security.
“It goes all the way back to the beginning of 2024,” said Fuchs. “So police officers, firefighters and teachers are going to get more money from social security.”
The increase in benefits would equal around $300 a paycheck for most people. The Government Pension Offset can be close to $700 a month.
There was also a 2.5% increase in Social Security Benefits for everybody.
“That is the cost of living adjustment,” said Fuchs. …