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Law enacted by Biden affects millions of people in their Social Security benefits

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In a landmark move, President Joe Biden has signed a bill that significantly increases Social Security benefits for nearly 3 million public service employees and retirees.
The article from MSN discusses a new law signed by President Joe Biden that impacts Social Security benefits for millions of Americans. This law, part of a broader legislative effort, aims to adjust the cost-of-living adjustments (COLAs) for Social Security recipients to better reflect the actual inflation rates, particularly in healthcare costs. It also includes provisions to protect benefits from being reduced due to other income sources, ensuring that beneficiaries do not lose out on their Social Security payments even if they have additional income. This adjustment is intended to provide more financial security for retirees, disabled individuals, and survivors, addressing the rising costs of living that disproportionately affect these groups. The changes are expected to start affecting beneficiaries in the upcoming year, with the goal of making Social Security benefits more equitable and sustainable in the long term.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/law-enacted-by-biden-affects-millions-of-people-in-their-social-security-benefits/ar-AA1x36U3 ]