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The Social Security Fairness Act (SSFA), which was recently signed into law by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income from public...
The beneficiary's right to Social Security, he argued, should not be subject to public policy considerations (especially not something resembling a loyalty oath, as was the case in Flemming). According to this argument, allowing government benefits to be revoked in this way too extensively threatens the system of private property.
It may decrease their Social Security payments by up to half the value of their pension. For example, Michelle Cosgrove's benefits will be cut nearly in half — reduced by $557, to $601.
Since 1983, one of those rules—the Windfall Elimination Provision (WEP)—has curtailed Social Security payments to retirees who worked in the public sector and received a pension.
Social Security payouts are indexed to wages, which historically have exceeded inflation. As such, Social Security payments are protected from inflation, while private accounts might not be; Privatization would represent a windfall for Wall Street financial institutions, who would obtain significant fees for managing private accounts.
Helvering v. Davis, 301 U.S. 619 (1937), was a decision by the U.S. Supreme Court that held that Social Security was constitutionally permissible as an exercise of the federal power to spend for the general welfare and so did not contravene the Tenth Amendment of the U.S. Constitution.
The legislation would eliminate a provision that cuts Social Security payments to some retirees who also collect a pension from jobs not covered by the retirement program.
The Social Security Disability Benefits Reform Act of 1984 was signed into law by then-U.S. President Ronald Reagan on 9 October 1984. Its purpose was to ensure more accurate, consistent and uniform disability determination decisions under the Social Security Disability Insurance (SSDI) program, and to ensure that applicants were treated fairly and humanely. [1]