The U. S. Social Security Administration (SSA) has reported the release of over $7. 5 billion in retroactive payments to more than a million Americans following the repeal of two provisions that previously reduced benefits for certain individuals.
• The SSA has begun issuing retroactive payments due to the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). As of March 4, payments had already been made to 1,127,723 people.
• The average retroactive payment is $6,710.
• These provisions previously impacted over 3. 2 million pensioners who receive benefits from work not covered by Social Security.
• The Social Security Fairness Act (SSFA), signed into law by former President Joe Biden in January, eliminated the WEP and GPO, making more beneficiaries eligible for payments starting from January 2024.
• Many beneficiaries will also see an increase in their monthly benefits beginning in April, based on the type of benefit and pension amount they receive.
• Specific groups like teachers, police officers, firefighters, and certain government workers will benefit from these changes.
• Beneficiaries due for retroactive payments will receive mail notifications from SSA, likely two to three weeks after receiving their payments.
• Senator Lisa Murkowski expressed support for the swift action taken by SSA to allow public servants in Alaska to access their entitled benefits.
• Some advocacy groups criticize the SSFA, claiming it overlooks the fairness for those who do not participate in Social Security due to their job positions.
The SSA's decision to issue retroactive payments and increase benefits marks a significant change, promising financial relief for many previously affected by WEP and GPO. Beneficiaries can expect to receive further communications detailing their benefits and adjustments in the coming weeks.
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