Brand-new year, brand-new laws. President Biden signed the Social Security Fairness Act (SSFA) into legislation on Sunday, January 5. But what exactly is the SSFA, and how does it affect your retirement?
Here’s the short version: The SSFA restores full benefits to public service workers, such as teachers police officers, and postal workers.
The long version? This legislation amends Title II of the SSFA, eliminating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
What are the WEP & GPO?
WEP: This provision was created to stop “double-dipping” from both a government pension and social security by reducing benefits.
GPO: This provision reduces spousal benefits for those receiving “non-covered pensions” by 67% of the government pension.

Reminder: Social Security has not increased in over 20 years due to the fear that the Social Security Trust Fund will be empty by 2033. However, Biden stated, “Americans who have worked hard all their life to make an honest living should be able to retire with economic security and dignity.”
What Does This Change?
• Increases Social Security for 3 million public employees.
• Eliminates the Windfall Elimination Provision and increases retirees’ income by an estimated $360 monthly.
• Eliminates the Government Pension Offset and increases retirees’ income by an estimated $700 monthly.
• Eligible for payback from 1 year prior.
What Are My Next Steps?
1. Review your employment history to identify if you have received a pension from public employment.
2. Get in touch with the Social Security Administration (SSA) for additional resources.
3. Consult our team of Certified Public Accountants to discuss how this legislation affects your monthly benefits.
Questions? We’re here to help. Schedule a meeting with our team by calling 985-727-9924.
Let’s plan for your future together!
Sources:
“Social Security Fairness Act Signed into Law by Biden, Enhancing Retirement Benefits for Millions.” CBS News, CBS Interactive,
Moller, Louisa. “Massachusetts Public Sector Retirees Celebrate Signing of Social Security Fairness Act.” CBS News, CBS Interactive, 6 Jan. 2025, www.cbsnews.com/boston/news/massachusetts-social-security-fairness-act-impact/.
Pomroy, Kathryn. “Social Security Fairness Act Will Boost Retirement Benefits for Millions. Will You Be Impacted?” Kiplinger.Com, Kiplinger, 6 Jan. 2025, www.kiplinger.com/retirement/social-security/social-security-fairness-act-will-boost-retirement-benefits-for-millions.
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