President Joe Biden is rumored to sign the Social Security Fairness Act into law on Jan. 6, a law enforcement officers’ organization announced on Monday.
The National Fraternal Order of Police, a group dedicated to supporting law enforcement officers, posted on its Facebook page that Biden plans to sign the bill into law on Monday, Jan. 6. The organization had also previously released a statement thanking President-elect Donald Trump for his support on the bill.
The National Fraternal Order of Police, a major supporter of the Social Security Fairness Act, has over 355,000 members in the U.S.
The bill was passed by a full Senate on Dec. 20 in a 76-20 vote, after passing the House of Representatives in a 327-75 vote on Nov. 12.
It was later presented to Biden on Dec. 27, meaning that the president will have until Jan. 8 to sign the bill into law.
Meanwhile, the Social Security Administration (SSA) released instructions on how to respond to questions regarding the bill’s potential passage into law. “At this time, the Social Security Administration is evaluating how to implement it if it is signed into law. We will provide more information on our website, ssa.gov as soon as it is available,” the SSA advised. “If you are already entitled, you do not need to take any action at this time except to verify that we have your current mailing address and direct deposit information. If you are receiving a public pension and are now interested in filing for benefits, you may file online at ssa.gov or schedule an appointment.”
If signed into law, The Social Security Fairness Act will remove the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which limits benefits for close to 3 million workers who receive a public pension. The WEP reduces Social Security benefits for those who earn income from noncovered pensions, while the GPO regulates spousal benefits for workers with noncovered pensions.
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Key Changes May Come in Latest Social Security Bill
Social Security Fairness Act Passes Senate
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
