Fiserv Chairman and CEO Frank Bisignano discusses the leadership that will bring to Social Security in the “Craman Countdown.”
Some Social Security Beneficiaries can see monthly payments increase in April due to the recent legislation in place.
Americans who received public sector pensions upon retirement were previously restricted from obtaining full social security benefits under regulations known as the Windfall Elimination Provision (WEP) and Government Pension Settlement (GPO).
Under the Social Security Equity Act, which was signed into law by then-President Joe Biden in January, beneficiaries affected by WEP and GPOs will receive a one-off payment retroactively in January 2024. Temporary payments began to depart in the last week of February.
The Social Security Agency (SSA) said on its website that it will begin receiving new monthly benefits amounts in April 2025 as Social Security benefits are paid one month late.
Social Security Payments for Public Pension Beneficiaries
Social Security changes under the Social Security Equity Act have been in place, with several changes being made in April. (Getty Images via Jeffrey Greenberg/Educational Images/Universal Image Group)
Social Security payments will be released on April 9th for winners born between April 16th and 20th for winners who are held between the 1st and 10th of their date of birth.
“We were able to speed up payments using automation. For many complex cases that cannot be handled automatically, we need additional time to manually update the records and pay both retroactive and new profit amounts,” SSA wrote on its website.
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President Joe Biden then signed the Social Security Equality Act earlier this year. (Reuters/Nathan Howard)
“We are currently speeding up these cases. We are releasing retroactive perks and sending new monthly benefit amounts as we process each case. We expect all beneficiary records to be broken by early November 2025,” the SSA added.
The SSA asked the beneficiaries to wait until April to ask about their retroactive payment status. SSA says it has processed about 75% of the adjustments (approximately 2.3 million people) under the Social Security Equity Act as of March 28th.
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The SSA noted that most state and local government employees (approximately 72%) pay social security taxes and engage in social security-covered employment that is not affected by WEP or GPO policies. These workers will not be affected by the changes and will not receive an increase in profit as a result of the new law.
