Overview

• The Social Security Fairness Act, passed with bipartisan support in both the House and Senate, now awaits President Biden's signature to become law.
• The legislation eliminates the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which have reduced Social Security benefits for retirees with public sector pensions.
• Supporters argue the bill corrects longstanding inequities, ensuring millions of public servants receive the full benefits they earned through private-sector Social Security contributions.
• Critics warn the bill could accelerate the depletion of Social Security's trust funds by six months and add nearly $196 billion to federal spending over the next decade.
• If signed into law, the changes will take effect for monthly Social Security benefits payable after December 2023.