President Biden signed the Social Security Fairness Act, expanding benefits for retired Americans, including firefighters, police officers, and teachers.
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00:00President Biden signed the Social Security Fairness Act on Sunday,
00:03expanding benefits for retired Americans, including firefighters,
00:07police officers and teachers. The act is expected to provide an average
00:11monthly increase of $360 for over 2.5 million recipients, significantly
00:17impacting middle class households. Beneficiaries will also receive a lump
00:21sum in the thousands to compensate for the shortfall in benefits anticipated
00:26for 2024. The legislation repeals two federal policies that previously
00:32restricted public pension employees from receiving full social security
00:37benefits and reduce benefits for their surviving spouses and family members.