Social Security Benefits: How This New Bill Could Increase Your Income

Learn how the new Social Security Fairness Act could increase your retirement and spousal benefits by eliminating penalties like WEP and GPO. Discover what this means for public servants and your financial future.

In today's update, discover how the new Social Security Fairness Act could impact your retirement benefits by eliminating the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that have reduced benefits for public servants like teachers, firefighters, and police officers. Learn how this legislation could increase your Social Security income, improve your retirement security, and what it means for those relying on government pensions. Understand the impact for for retirement, SSI (Supplemental Security Income), SSDI (Social Security Disability Insurance), survivors, VA, and spousal benefits. Understand the key changes, why this bill matters for public employees, and what you need to know about the potential financial relief. Stay informed about the critical updates that could significantly boost your Social Security benefits and enhance your financial future.

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#socialsecurity
#socialsecurityupdate
#Retirement
#PublicServants
#FairnessAct
#RetirementBenefits
#moneyinstructor
#financialeducation
#financialliteracy

Money Instructor does not provide tax, legal, or financial advice. This content is for educational purposes only and not meant as professional advice. Consult your own advisors for specific guidance. While the information provided has been researched and vetted, it may not reflect the most current legal or financial developments. Viewers are encouraged to verify the currency of the information, especially before making any significant financial or legal decisions.

[brendanealey]

Promises, Promises.
People on SSA paid into Social Security.
We deserve a raise of at least 400.00 a month.

[jeromeparker]

I believe it when I see it for my mother

[teresalester]

Not fair you get a sscheck for not paying in and i worked 48 years paying into it to only get 1800.

[irenelucas]

I collect on my husbands spousal benefits. When he passed away. I found out about the decrease I worked in a school. They deduct my pension

[billcallahan]

The issue has grown even more than most know. For example, it’s the losing the $580 bucks on one hand of course… but then factor in the loss of Decades of COLA’s.

[DebraPost-zpzh]

My husband has been affected by this WEP and GPO for years. It was a joke when SSI was sending him 8 cents a month because I made a good salary by working an additional 40 hours of OT a week. He was penalized by my salary but I understand if I die first he isn’t untitled to any of my SSI because of his police pension. Definitely not good.

[irenelucas]

In Ohio our Senator Sherrod Brown is also working on this with our state representatives

[lorivargas]

They will take 587.00 from my check which would leave me with 187.00

[felisfelidae]

I haven’t received my check yet — even though I should’ve— according to the past 5 yrs, I was supposed to be paid right before Labor Day

[noodlesvr]

So everything doubles in price and the government gives you an extra $20 a month lol

[bravo]

It has been said no president no benefits or help!

[jdwfenton]

This is long overdue. I paid into Social Security for 13 years prior to working for the US Postal Service for 31 years. I started working for USPS in 1979. So I'm one of those people affected by the WEP I took a sizable cut to my social security benefit when I retired from the Postal Service. My typical monthly social security check is about $280 a month after Medicare part B deductions. My wife gets a similar amount of social security but does not get a pension. There has only been one time when my social security check has increased in 13 years of being retired. Generally, any increase I received was eaten up by Part B increases. I always felt that Reagan screwed us because of this provision.