The Social Security Fairness Act has been signed into law. This legislation repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).
As we at The Senior Center have covered, these two policies have been controversial from their inception. And now public sector retirees (approximately 2 million people) will enjoy higher benefits in retirement at the expense of the Trust Fund and the other 60 million retirees.
The WEP and GPO were enacted in the late 20th century. They affected millions of public servants, including teachers, firefighters, and police officers. The policies reduced their Social Security benefits because they also received a government pension. The repeal of these provisions is expected to increase monthly benefits by approximately $360 to over $1,190 for affected individuals by December 2025.
The act has been lauded for increasing benefits to SOME retirees at the expense of the majority of retirees . However, many people have concerns about the financial sustainability of the Social Security Trust Funds. The Congressional Budget Office estimates that this change will accelerate the depletion of the retirement trust fund by about six months, with insolvency now projected around 2033.
Despite these very serious concerns, the Social Security Fairness Act was passed into law. As implementation proceeds, beneficiaries are advised to update their information with the Social Security Administration to ensure timely adjustments to their benefits.
Help The Seniors Center Protect the Future of Social Security
The Seniors Center is committed to finding solutions to strengthen and protect the Social Security Trust Fund. Social Security is a contract between citizens and the government. Money deposited in the Trust Fund should only be used to pay benefits to eligible recipients.
The Seniors Center is demanding Congress finally put a stop to the careless borrowing and spending by greedy politicians that has put our Trust Fund and our secure retirement in jeopardy.
At The Seniors Center, our goal is to help seniors, and we’re doing that by protecting the future of Social Security. Retirees shouldn’t have to worry about losing their hard-earned benefits to taxes or the agendas of greedy politicians. If you agree, we invite you to sign our petition today! And follow The Seniors Center on Twitter and Facebook for more updates!
