A Big Social Security Change Just Signed by President Biden Comes With Bad News for Retirees

On Jan. 5, President Joe Biden signed into law the Social Security Fairness Act. The Social Security trust fund that pays benefits to retired workers, spouses, and survivors was already on pace to be depleted by 2033. The Social Security Fairness Act eliminates two pre-existing rules: the Windfall Elimination Provision and the Government Pension Offset.