<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:media="http://search.yahoo.com/mrss/"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>117343285 &#8211; eZNews</title>
	<atom:link href="https://eznews.xyz/tag/117343285/feed/" rel="self" type="application/rss+xml" />
	<link>https://eznews.xyz</link>
	<description>Tech News, Gaming, Travel</description>
	<lastBuildDate>Sun, 05 Jan 2025 21:39:10 +0000</lastBuildDate>
	<language>en-US</language>
	<sy:updatePeriod>
	hourly	</sy:updatePeriod>
	<sy:updateFrequency>
	1	</sy:updateFrequency>
	<generator>https://wordpress.org/?v=6.8.1</generator>

<image>
	<url>https://eznews.xyz/wp-content/uploads/2024/07/cropped-eznews-icon-1-32x32.jpeg</url>
	<title>117343285 &#8211; eZNews</title>
	<link>https://eznews.xyz</link>
	<width>32</width>
	<height>32</height>
</image> 
	<item>
		<title>Biden signs bill boosting Social Security payments for millions</title>
		<link>https://eznews.xyz/world-news/biden-signs-bill-boosting-social-security-payments-for-millions/</link>
					<comments>https://eznews.xyz/world-news/biden-signs-bill-boosting-social-security-payments-for-millions/#respond</comments>
		
		<dc:creator><![CDATA[Sasa]]></dc:creator>
		<pubDate>Sun, 05 Jan 2025 21:39:10 +0000</pubDate>
				<category><![CDATA[World News]]></category>
		<category><![CDATA[117343285]]></category>
		<category><![CDATA[Article]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[General news]]></category>
		<category><![CDATA[Government programs]]></category>
		<category><![CDATA[U.S. news]]></category>
		<category><![CDATA[Washington news]]></category>
		<guid isPermaLink="false">https://eznews.xyz/world-news/biden-signs-bill-boosting-social-security-payments-for-millions/</guid>

					<description><![CDATA[WASHINGTON &#8212; President Joe Biden on Sunday plans to sign into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs. Advocates say the Social Security Fairness Act rights [&#8230;]]]></description>
										<content:encoded><![CDATA[<p> <br />
</p>
<div data-testid="prism-article-body">
<p class="EkqkG IGXmU nlgHS yuUao MvWXB TjIXL aGjvy ebVHC "><span class="oyrPY qlwaB AGxeB  ">WASHINGTON &#8212; </span>President <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/hub/joe-biden">Joe Biden</a> on Sunday plans to sign into law a measure that <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/social-security-changes-congress-pensions-3a8d55e0d236d2ee01abce6d94a60d0c">boosts Social Security payments</a> for current and former public employees, affecting <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://crsreports.congress.gov/product/pdf/IF/IF10203">nearly 3 million people</a> who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Advocates say the Social Security Fairness Act rights a decades-old disparity, though it will also put strain on Social Security Trust Funds, which face a looming insolvency crisis. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The bill rescinds two provisions — the <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.ssa.gov/pubs/EN-05-10045.pdf">Windfall Elimination Provision</a> and the <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.ssa.gov/pubs/EN-05-10007.pdf">Government Pension Offset</a> — that <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.ssa.gov/policy/docs/program-explainers/windfall-elimination-provision.html">limit Social Security benefits</a> for recipients if they get retirement payments from other sources, including public retirement programs from a state or local government.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The Congressional Research Service estimated that in December 2023, there were 745,679 people, about 1% of all Social Security beneficiaries, who had their benefits reduced by the Government Pension Offset. About 2.1 million people, or about 3% of all beneficiaries, were affected by the Windfall Elimination Provision.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.cbo.gov/system/files/2024-09/hr82.pdf">Congressional Budget Office</a> estimated in September that eliminating the Windfall Elimination Provision would boost monthly payments to the affected beneficiaries by an average of $360 by December 2025. Ending the Government Pension Offset would increase monthly benefits in December 2025 by an average of $700 for 380,000 recipients getting benefits based on living spouses, according to the CBO. The increase would be an average of $1,190 for 390,000 or surviving spouses getting a widow or widower benefit.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Those amounts would increase over time with Social Security’s regular cost-of-living adjustments.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The change is to payments from January 2024 and beyond, meaning the Social Security Administration would owe back-dated payments. <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.congress.gov/bill/118th-congress/house-bill/82/text">The measure as passed by Congress</a> says the Social Security commissioner &#8220;shall adjust primary insurance amounts to the extent necessary to take into account” changes in the law. It&#8217;s not immediately clear how this will happen or whether people affected will have to take any action.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Edward Kelly, president of the International Association of Fire Fighters, said firefighters across the country are “excited to see the change — we&#8217;ve righted a 40-year wrong.” Kelly said the policy was “far more egregious for surviving spouses of firefighters who paid their own quotas into Social Security but were victimized by the government pension system.”</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The IAFF has roughly 320,000 members, which does not include hundreds of thousands of retirees who will benefit from the change. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">“Now firefighters who get paid very little can now afford to actually retire,&#8221; Kelly said.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Sherrod Brown, who as an Ohio senator pushed for the proposal for years, lost his reelection bid in November. Lee Saunders, president of the American Federation of State, County and Municipal Employees labor union, thanked Brown for his advocacy.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">“Over two million public service workers will finally be able to access the Social Security benefits they spent their careers paying into,&#8221; Saunders said in a statement. &#8220;Many will finally be able to enjoy retirement after a lifetime of service.”</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">National Education Association President Becky Pringle said the law is “a historic victory that will improve the lives of educators, first responders, postal workers and others who dedicate their lives to public service in their communities.” </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">And while some Republicans such as Maine Sen. Susan Collins supported the legislation, others, including Sens. John Thune of South Dakota, Rand Paul of Kentucky and Thom Tillis of North Carolina, voted against it. “We caved to the pressure of the moment instead of doing this on a sustainable basis,” Tillis told The Associated Press last month. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">Still, Republican supporters of the bill said there was a rare opportunity to address what they described as an unfair section of federal law that hurts public service retirees.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The future of Social Security has become a top political issue and was a major point of contention in the 2024 election. About <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2023/fast_facts23.html">72.5 million</a> people, including retirees, disabled people and children, receive Social Security benefits. </p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The policy changes from the new law will heap more administrative work on the Social Security Administration, which is already at its lowest staffing level in decades. The agency, currently under a hiring freeze, has a staff of about 56,645 — the lowest level in over 50 years even as it <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://www.ssa.gov/securitystat">serves more people than ever</a>.</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC TjIXL aGjvy ">The annual Social Security and Medicare trustees <a class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " data-testid="prism-linkbase" href="https://apnews.com/article/social-security-medicare-entitlements-treasury-35a2913a3f21a3b0ff40f2c88cbf9cbc">report released last May</a> said the program’s trust fund will be unable to pay full benefits beginning in 2035. The new law will hasten the program’s insolvency date by about half a year. ___</p>
<p class="EkqkG IGXmU nlgHS yuUao lqtkC eTIW sUzSN ">Associated Press writer Stephen Groves contributed to this report.</p>
</div>
<p><br />
<br /><a href="https://abcnews.go.com/Business/wireStory/higher-social-security-payments-coming-millions-people-bill-117343285">Source link </a></p>
]]></content:encoded>
					
					<wfw:commentRss>https://eznews.xyz/world-news/biden-signs-bill-boosting-social-security-payments-for-millions/feed/</wfw:commentRss>
			<slash:comments>0</slash:comments>
		
		
		<media:content url="https://i3.wp.com/i.abcnewsfe.com/a/f436a0ef-23f9-44b4-8dde-c3ac25237059/wirestory_5673001497090043e786ade8a8d0fdb4_16x9.jpg" medium="image"></media:content>
				</item>
	</channel>
</rss>
