A New Social Security Law Will Give Some Retirees Over $1,000 More Per Month, but Not Everyone Will See a Change
If you're on Social Security, you're probably used to small changes to the size of your benefit checks every year due to cost-of-living adjustments (COLAs). But major changes to those benefits are pretty rare. That's what makes the recently enacted Social Security Fairness Act such big news.The law, which former President Biden signed in January, canceled two key Social Security provisions that reduced the benefits owed to 3.2 million Americans. That group includes retired workers, spouses, and surviving family members of deceased workers. Some will see their checks increase by more than $1,000 per month. However, others won't notice any difference at all.Image source: Getty Images.Continue reading
If you're on Social Security, you're probably used to small changes to the size of your benefit checks every year due to cost-of-living adjustments (COLAs). But major changes to those benefits are pretty rare. That's what makes the recently enacted Social Security Fairness Act such big news.
The law, which former President Biden signed in January, canceled two key Social Security provisions that reduced the benefits owed to 3.2 million Americans. That group includes retired workers, spouses, and surviving family members of deceased workers. Some will see their checks increase by more than $1,000 per month. However, others won't notice any difference at all.
Image source: Getty Images.
