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$1,033 Monthly Social Security Increase Confirmed – Find Out When You’ll Get Paid

In a major victory for millions of public sector employees, President Joe Biden has officially signed the Social Security Fairness Act, a historic law aimed at boosting Social Security benefits. The changes primarily target retired teachers, police officers, firefighters, and other public workers who were previously denied full access to these benefits due to outdated rules.

This is the first significant expansion of Social Security benefits in over 20 years, and it’s being described as a game-changer for retirees who have faced financial hardship.

Why the Change?

For decades, two provisions — the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) — reduced Social Security benefits for those who had worked in public service jobs. These rules were seen by many as unfair, cutting benefits that public workers rightfully earned through years of service.

With the repeal of these provisions, over 2 million retirees will finally see the full financial support they deserve.

How Much More Will You Get?

The benefit increases vary depending on individual situations:

  • For retirees previously affected by WEP: Monthly Social Security checks will increase by an average of $360.
  • For surviving spouses impacted by the GPO: Benefits could rise by as much as $1,033 per month, depending on their previous earnings and spousal benefits.

These adjustments will provide significant relief, especially for older Americans struggling with inflation and rising living costs.

When Will the New Payments Start?

The changes are retroactive to January 2024. This means that eligible retirees will receive back payments to cover any missed benefits since the beginning of the year. The Social Security Administration (SSA) is working to recalculate and issue the new payments, but it may take some time due to staffing challenges within the agency.

Beneficiaries are encouraged to keep an eye out for notices from the SSA explaining their specific payment details.

Financial Impact and What’s Next

While the increased benefits are great news for retirees, experts have raised concerns about the long-term cost. Expanding Social Security could put additional pressure on the program’s already-strained budget. However, lawmakers supporting the change argue that ensuring fair treatment for public sector workers is worth the investment.

With this long-overdue reform, public workers who have served their communities for decades will no longer face unfair reductions in their retirement income.

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