Are You One of the 3 Million+ Receiving the Upcoming Social Security Boost?
More than 3.2 million Americans are due a retroactive lump sum payment from the Social Security Administration (SSA). While the agency once believed it would take a year or more to distribute payments, automation has sped the process up considerably. Most people have already received their checks or will have them by the end of March. Shortly before leaving office in January, former President Joe Biden signed the Social Security Fairness Act into law. The Act ended the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).Both the WEP and the GPO reduced or eliminated Social Security benefits for those who received a pension based on work but didn't pay Social Security taxes because Social Security did not cover their position. WEP and GPO primarily affected the following:Continue reading
More than 3.2 million Americans are due a retroactive lump sum payment from the Social Security Administration (SSA). While the agency once believed it would take a year or more to distribute payments, automation has sped the process up considerably. Most people have already received their checks or will have them by the end of March.
Shortly before leaving office in January, former President Joe Biden signed the Social Security Fairness Act into law. The Act ended the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
Both the WEP and the GPO reduced or eliminated Social Security benefits for those who received a pension based on work but didn't pay Social Security taxes because Social Security did not cover their position. WEP and GPO primarily affected the following:
