In a major win for public sector workers like teachers, firefighters, and other dedicated employees, President Joe Biden signed a new Social Security bill on Sunday, marking a momentous step forward for fairer retirement benefits.
“The bill I’m signing today is about a simple proposition,” Biden said as he prepared to sign the Social Security Fairness Act into law. “Americans who’ve worked hard all their lives deserve to retire with the dignity and economic security they’ve earned.”
This new law is all about fairness. For nearly 90 years, Social Security has been designed to help working Americans secure a comfortable retirement. But in recent decades, certain laws have been holding back the full benefits for public sector workers. The Social Security Fairness Act is here to change that!
Earlier this year, the Senate passed the bill with overwhelming support, 76-20, followed by a solid win in the House with a 327-75 vote. The change was long overdue.
So, what exactly does the bill do?
It repeals two outdated laws that have been unfairly reducing benefits for public workers. First up is the Windfall Elimination Provision (WEP), which has been around since 1983. WEP reduced benefits for workers who had earned government pensions but didn’t pay into Social Security.
The second law being repealed is the Government Pension Offset (GPO), a rule from 1977 that limited benefits for spouses, widows, and widowers whose partners received public sector pensions. Both of these laws have been a burden for many hardworking individuals, and the new bill eliminates them.
Senator Susan Collins (R-Maine), who has been fighting for this change since 2003, expressed her pride in seeing this bill finally become law. “I’ve been pushing for this change for over 20 years, and I’m thrilled that it will make sure public service doesn’t mean sacrificing retirement benefits,” Collins said.
Biden wrapped up his remarks by pointing out that for far too long, the old law had been denying millions of Americans access to the full Social Security benefits they rightfully earned, costing them thousands of dollars each year. With the Social Security Fairness Act, that injustice is finally corrected!
This is a big step in ensuring that everyone, no matter their job, gets the benefits they deserve when it’s time to retire.
