From Nasdaq: 2025-03-22 04:44:00

Many Social Security beneficiaries struggle to cover living expenses with their monthly checks. However, 3.2 million Americans may see significant benefit increases and retroactive payments. The Social Security Fairness Act affects those who didn’t contribute to Social Security, including state and local government employees. Retired workers affected by the act could see an average monthly benefit increase of $360, with spousal beneficiaries potentially receiving $700 more per month. Surviving spouses may receive the largest increase at $1,190 per month. Retroactive payments could be over $14,000 for some.

Affected seniors should receive benefit adjustments by April 2025, with retroactive payments by March. The Social Security Administration will automate most payments, but complex cases may take longer. Not everyone will see the same increase, as benefits depend on work history. A notice will detail monthly increases and retroactive payments. A few “Social Security secrets” could boost retirement income, potentially increasing benefits by $22,924 per year. Learn more to maximize Social Security benefits.



Read more at Nasdaq: Billions in Retroactive Social Security Benefits Should Go Out Soon. Here’s Who Could Benefit the Most.