Nearly 3 million current and former public sector workers are set to receive higher Social Security payments after President Joe Biden signed the Social Security Fairness Act into law on Sunday.
In what the White House says is the first such expansion in 20 years, the bipartisan law eliminates two provisions that reduced monthly benefits for some retirees with other pension income. The Congressional Budget Office (CBO) estimates some public employees could see their benefits increase by an average of $360 per month, while some spouses could see an average monthly increase of $700. Meanwhile, those who have lost their partners could see a $1,190 increase. The benefits will increase along with Social Security's annual cost-of-living adjustment (COLA).
