Investopedia spoke with Isabel Barrow at Edelman Financial Engines to discuss the changes the new Social Security Fairness Law will bring and the impact it could have on retirees.

The Social Security program was created in 1935 and began paying out monthly benefits to retired workers five years later. But there have been several important adjustments to the program ...

The repeal of two provisions will boost Social Security payments for certain beneficiaries, and will include back payments.

In a landmark move, President Joe Biden has enacted the Social Security Equity Act, promising increased benefits for millions ...

That all changed 90 years ago with the Social Security Act, which created an insurance fund to provide a basic income for workers who had passed their earning years. Today, the program remains the ...

President Joe Biden recently signed the Social Security Fairness Act into law. This new legislation will have a big impact on ...

The Windfall Elimination Provision and Government Pension Offset reduced Social Security payments for beneficiaries with certain pensions. The Social Security Fairness Act eliminates these provisions.

Just after midnight on the very last day of the 2024 Senate session, the Social Security Fairness Act was passed.

About 50 years ago, a more responsible Congress recognized this and created two laws ... windfall from Social Security. That’s where the “Windfall Elimination Act” came in.

Update: President Biden is now expected to sign the Social ... to a year ago. Still, calculating what beneficiaries are owned may not be simple or quick. "The Social Security Fairness Act would ...

Congress responded that year by adding the Windfall Elimination Provision (WEP) to the Social Security Act. The WEP created a formula that, in effect, divided a 25-year government employee’s 10 ...