Summary
President Biden will sign the Social Security Fairness Act, boosting payments for nearly 3 million public service retirees by eliminating the Windfall Elimination Provision and Government Pension Offset.
The changes will increase benefits by an average of $360–$1,190 monthly, including backdated payments starting January 2024.
Advocates call it a historic victory for educators, firefighters, and others, correcting a 40-year inequity.
While some Republicans supported the legislation, others argued it was unsustainable and would hasten the program’s insolvency.
Thank goodness these boomers are getting more money. They never had the opportunity to plan for their retirement like the newer generations!
My mother-in-law worked 20 years as a teacher, then got her pension plundered by the state of Texas. She moved to another job, but because she was enrolled in the teacher’s pension, SS wouldn’t fully recognize her contributions for the rest of her career. I’m actually really happy she’s getting full SS benefits now, because it means she’s not suddenly bankrupt in her 70s or 80s and fully reliant on our family for her financial survival.
Just in time to not even realize Biden did it and vote Republican again because they made my check get moar
And younger generations are swimming in cash so they’re happy to pay for the boomers.
Anyone who believes a country that spends $1.4T/year on national security is strapped for cash is lying to themselves. Anyone who believes their paycheck is what’s making or breaking the SST in a $30T/year economy is beyond foolish.
Younger generations are paying lower tax rates than at any point in the last century. What they’re absorbing now, more than ever, is the cost of private debts and private profit-seeking.
I actually donate extra to social security since I’m so grateful for the world the boomers made for us!
Will this be the final lugie in your face? Misspelling deliberate*
Luigooigi