The Social Security Fairness Act, recently signed by President Joe Biden, has eliminated the Government Pension Offset and Windfall Elimination Provision rules. The act aims to enable Americans to retire with economic security and dignity.

Kathryn McCall, a CFP and financial adviser with CAPTRUST, highlights how individuals previously affected due to shifting from private to public sector roles will now receive fair compensation without pension penalties.

Massachusetts teachers and other public sector employees who qualify for Social Security benefits through covered work will receive a higher benefit once the new rules go into effect.

Roughly 1 in 4 retirees have no savings, according to a recent Clever survey. There are several reasons for this, including living paycheck to paycheck and having to pay for unplanned expenses. These obstacles can be challenging to overcome,

This week, a select group of Social Security retirees in the United States will see their monthly payments rise to $5,000. Millions of beneficiaries will also experience a significant increase in their income,

Social Security will see some notable changes in 2025 that could impact millions of Americans. While the average benefit will increase, high earners may face a larger tax bill and retirees could find their cost-of-living adjustment falls short.