When is the earliest you will see an increase in your Social Security benefits under the Social Security Fairness Act?
The Social Security Administration has announced a retroactive benefits payment due to the recently passed Social Security Fairness Act (SSFA) that eliminated the Windfall Elimination Provision, known as WEP, and the Government Pension Offset, better known as GPO.
These two concepts affected 3.2 million people who saw their Social Security benefits reduced, 28% of state and local government employees, who today can get back pay and an increase in monthly benefit payments.
Understanding SSDI Benefits: What is the criteria to qualify for disability benefits?
Eligibility for back pay
Eligibility for these retroactive payments is aimed at those who receive a pension for working in something that is not covered by Social Security and therefore did not pay taxes for that concept (teachers, firefighters, police officers and other public service jobs covered by the Civil Service Retirement System).
However, it was recently revealed that this benefit could have some tax implications, as a significant portion of Social Security income may be subject to federal taxes.
If I’m eligible, when will I receive my payment?
It is important to clarify that the new rule does not pay benefits to those who have never paid Social Security taxes, but for those who have, retroactive payments began to be released in February, will continue in March and more will be issued during April. In any case, everyone will be notified by conventional mail of the adjustments or payments and the dates on which they will receive them in their Social Security registered bank account.
For subsequent payments, most beneficiaries following the passage of this law will begin receiving their new monthly benefit amount in April 2025.