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Fox-32 Chicago
During his final days in office, President Joe Biden signed the Social Security Equity Act, increasing federal retirement benefits for 3.2 million American seniors. If you were among them, you were probably waiting enthusiastically to arrange your check.
As of April 25th, the Social Security Administration has processed 2.3 million benefits adjustments. But even so, about 900,000 Americans are waiting for extra money. If you’re among them or you think you might be, here’s what you need to know.
Social Security Administration handles complex cases manually
More than 80% of seniors affected by the Social Security Equity Act have already undergone benefits adjustments. The government automates the process of calculating most of them, and thus it was able to make all of these changes very quickly. However, some seniors’ cases were more complicated and could not be handled by automated processes. These people have not yet begun receiving adjusted payments.
Actual government officials will need to manually handle each of these more complicated benefits. This will take time. If you have plans for bumps thanks to the Social Security Fairness Act but don’t see any increase in payments in April, beware of notifications from the Social Security Agency. You will need to be notified when you adjust your monthly benefits. This notification should tell you how big the check will be.
You are also entitled to a one-time retroactive payment, dating back to January 2024, the effective date of the law. If you claim profits during this period, you will receive a lump sum to compensate for the difference between what you received and what you qualify under the Social Security Equity Act.
Currently, the Social Security Administration releases retroactive payments and adjusts monthly benefits on a rolling basis. We hope that by early November, all affected beneficiaries’ records will be broken.
What if I have questions about the Social Security Equality Act?
Most seniors do not believe that their profits will change under the Social Security Equity Act. This applies only to those who previously withhold money from their checks based on the Windfall Elimination Provemion (WEP) or Government Pension Settlement (GPO). These were applied to retirees who received pensions from employers who did not pay Social Security. Many teachers, police officers and firefighters are among those affected, but many of these occupations do not qualify for increased benefits.
If you are unsure whether the Social Security Equality Act should apply to you, you can contact the Social Security Agency and ask. However, you will need to prepare for long phone waits and extended waits to schedule in-person appointments at the field office.
If you know you are affected by the Social Security Fairness Act, make sure your agent has the correct address and direct deposit information in your hand. The fastest way to do this is through my Social Security account online.
If you don’t have any of these yet, it will only take a few minutes to set up. You need a Social Security number and you need to answer some identity questions. Once that’s done, you can set your username and password for faster logins next time.
Be aware of the benefits of each month. In rare cases, people receive revised payments before receiving notifications from the Social Security Agency. If you reach November and still have your payments appear the same, call to find out what’s going on with your profits.
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