Social Security Fairness Act Restores Benefits for Millions of Retirees

The new law eliminates provisions that reduced benefits for public sector workers, raising concerns about the program's financial solvency.

President Joe Biden signed the Social Security Fairness Act on January 5, 2025, repealing the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).
The law increases benefits for nearly 3 million retirees, with average monthly boosts of $360 for public workers and up to $1,190 for surviving spouses.
A one-time payment will be issued to eligible recipients for benefits they missed in 2024, alongside annual cost-of-living adjustments (COLA).
Critics warn the $196 billion cost over the next decade could accelerate Social Security's insolvency by six months, with the trust fund now projected to deplete by mid-2033.
The Social Security Administration is working on implementing the changes and advises beneficiaries to update their contact and banking information to ensure accurate payments.