Tue, January 7, 2025
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Will the Social Security Fairness Act Bankrupt SSA Trust Funds?

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  Print publication without navigation Published in Politics and Government on by MSN
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
President Joe Biden stated the measure will raise Social Security benefits by an average of $360 monthly for 2.8 million recipients.
The article from MSN discusses the potential impact of the Social Security Fairness Act (SSFA) on the Social Security Administration's (SSA) trust funds. The SSFA aims to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which currently reduce Social Security benefits for certain public employees who also receive pensions from non-Social Security covered employment. Critics argue that removing these provisions could lead to a significant financial strain on the SSA's trust funds, potentially hastening their depletion. Proponents of the SSFA, however, believe that the changes would correct an unfair penalty on public servants, arguing that the financial impact might be less severe than predicted due to various economic factors and adjustments. The debate centers on balancing fairness for public sector workers with the long-term solvency of Social Security, with no clear consensus on the exact financial implications of the Act.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/will-the-social-security-fairness-act-bankrupt-ssa-trust-funds/ar-AA1x7mKC ]