What Changed with the Fairness Act

• WEP and GPO eliminated: Government employees with non-covered pensions no longer face reductions in their Social Security benefits.
• Retroactive payments: Many received lump-sum checks for missed payments, in some cases totaling thousands of dollars.
• Spousal and survivor benefits: Now calculated at half of a spouse’s full retirement age benefit, indexed for inflation, without prior offsets. This means larger and more reliable monthly payments.
• Who’s impacted: Roughly 3 million people, including teachers, firefighters, police officers, and their spouses, benefit directly from these changes.

Rethinking Claiming Strategies

With the new rules in place, spousal claiming strategies have shifted:

• Spouses can now decide between claiming on their own record or half of their partner’s benefit whichever is higher.
• Some couples may choose earlier claiming to maximize household benefits.
• For survivors, the elimination of offsets means widows and widowers now have full access to spousal or survivor benefits.

What Retirees Should Do Now

1. Check your benefits: The Social Security Administration is issuing retroactive payments and monthly adjustments automatically, but not everyone has received theirs yet.
2. Review your strategy: Couples should revisit their retirement income plans with these new benefits in mind.
3. Update resources: Outdated advice like older TV episodes or articles should be ignored. Only rely on updated guidance reflecting the Fairness Act.

Why It Matters Long-Term

The elimination of WEP and GPO represents a landmark shift in Social Security fairness. Not only does it restore benefits for millions, but it also simplifies retirement planning and improves survivor protections. For public servants and their families, it’s both financial relief and recognition of service.

Intended for educational purposes only. Opinions expressed are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Neither the information presented, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Consult your financial professional before making any investment decisions. Opinions expressed are subject to change without notice.

IMPORTANT DISCLOSURES:

• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC. A Registered Investment Advisor.

• Pure Financial Advisors, LLC. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

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