As far as I know, this "Fairness" bill has not been signed.

Not sure if this due incompetence (most likely) or a final FU to his fellow Dems. Yes, I know the bill was bipartisan but my guess the majority of folks benefiting are blue.

If it is not signed, I am not sure whether it goes into law or becomes a pocket veto? Anyone know?

Need to do EOY tax planning.

Final Update - Biden signed evening of Jan 5th (Sunday)








Latest update - Jan 6th probable siging date

https://www.thinkadvisor.com/2024/12/31/biden-likely-to-sign-social-security-fairness-act-on-jan-6/

"The National Fraternal Order of Police, which has been a vocal proponent of the bill, posted Monday on its Facebook page that Biden plans to sign the bill into law on Jan. 6. The group, which has more than 377,000 members, said Monday that president-elect Donald Trump has endorsed the bill."



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QUICK UPDATE-- bill was not reported to Biden until 12/27.
https://www.congress.gov/bill/118th-congress/house-bill/82/all-actions?s=1&r=12&q=%7B%22search%22%3A%22HR+82%22%7D

so that is why there was no progress.

It passed both houses and becomes law unless he veto's it. He probably hasn't signed it because he is on a beach down in the Caribbean.

nortex97 said:

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It passed both houses and becomes law unless he veto's it. He probably hasn't signed it because he is on a beach down in the Caribbean.

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Is Congress in session right now? That matters which is what the OP is asking. I find it hard to believe congress is on session right now.

Oh ok. Per Duck Assist:

Quote:

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The 118th Congress is currently in session, having convened on January 3, 2023, and it will continue until January 3, 2025.

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This bill would actually be huge for police officers, teachers or anyone who worked years in the SS system and then went to a pension. My wife, for example, didn't get into public education until she almost 40 years old. She spent 20 years working and contributing to SS. She wouldn't get a penny of that back until this bill.
If poopy pants doesn't sign it, can it be signed by Trump or does it get scrapped? Anyone know how this works?

Thanks!

I was fighting a fire this morning, and was sure someone could help out. Really appreciate the responses.

So, looking at it further, it seems the operative word is "adjourned", which congress is, even if it is in session.

The other important attribute is "sine die" which means that it is not scheduled to be "un-adjourned".

So, looks to me that probably I am SOL, if Biden does not sign w/in 10 days (not counting Sundays). Need to get some paperwork done by EOY then. :-(

Again greatly appreciate this forum.


ts5641 - would have to start over, pretty sure.

Over_ed said:

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Thanks!

I was fighting a fire this morning, and was sure someone could help out. Really appreciate the responses.

So, looking at it further, it seems the operative word is "adjourned", which congress is, even if it is in session.

The other important attribute is "sine die" which means that it is not scheduled to be "un-adjourned".

So, looks to me that probably I am SOL, if Biden does not sign w/in 10 days (not counting Sundays). Need to get some paperwork done by EOY then. :-(

Again greatly appreciate this forum.

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Him signing or not signing the bill, how does that impact your EOY?

I can have wages paid for some work I did in the past, that I was not planning on charging for.

$8500 income (ballpark) qualifies me for a year of SS credits. The downside, I would have pay both ends of FICA and income taxes. Current Windfall penalty for me is 30%, if I did that for 2024 and 2025, would go down to 10% penalty.

PITA, and of course would take some time to break even on those expenses. But, probably the best path, as I am not planning on dying before I break even.

I doubt Biden is aware this bill has been passed.

nortex97 said:

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Oh ok. Per Duck Assist:

Quote:

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The 118th Congress is currently in session, having convened on January 3, 2023, and it will continue until January 3, 2025.

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Thank you for that. Guess I'm curious when Congress isn't in session. Seems like a rule with no application.

Biden has until Dec 31st to sign this bill. He is expected to sign (or may already have signed but it's not yet been announced). Once signed, the bill will likely take months to action, so I wouldn't expect any checks in the mail for awhile.

Thanks to you!

Yeah it looked to me that he has10 days (not including Sundays) to sign after it made it to his desk, whatever that conveyance entailed after senate passage.

You Bet - I too chuckle a bit - every time I say (or read) "Biden is signing" - I feel as fake as the MSM for the past 3-4 years.

Happy New Year!

SS got a raise but your Medicare plan went up to offset it.

QUICK UPDATE-- bill was not reported to Biden until 12/27.
https://www.congress.gov/bill/118th-congress/house-bill/82/all-actions?s=1&r=12&q=%7B%22search%22%3A%22HR+82%22%7D

So that is why there was no progress.

Really hope the WEP and GPO can somehow be kept in place because it is too unfair to people who have paid in to social security to now have public union come in and get the Cadillac package of social security benefits. They get their supplemental income benefits calculated at the top tier of returns and not at the comparable return of anyone else getting supplemental income and GPO gives people the unheard of gift of their own pension plan that faced no payroll tax plus their deceased spouses full benefit. No one else gets to double dip like that and public pension employees should not either.

No argument from me (in part):

In the original thread, I mentioned that I could see this point- especially as far as Federal employees, as they are already getting a federal pension that is usually much better than those of most federal taxpayers. Getting a second federal pension (SS) does seem to be rubbing salt into the wound, to me.

For state and school employees I don't see this as double dipping: if states want to tax themselves to create a seperate pension plan, that is their decision. IMO, that shouldn't affect their members being eligible for social security. In most states (all?) it is not the employees' decisions - you are forced off of SS.

So you have the frequent situation of giving up 1 - 20 years of contributions to SS with no SS retirement benefits and needing 30 years to get your full entitlement. (WEP)

It is (perhaps) not equitable the way that SS "rewards" lower payments with relatively higher rewards, which I believe is the most valid criticsm of this bill for state & school employees. But the whole system is set up like that, not just WEP/GPO folks.

Latest update - Jan 6th probable siging date

https://www.thinkadvisor.com/2024/12/31/biden-likely-to-sign-social-security-fairness-act-on-jan-6/

"The National Fraternal Order of Police, which has been a vocal proponent of the bill, posted Monday on its Facebook page that Biden plans to sign the bill into law on Jan. 6. The group, which has more than 377,000 members, said Monday that president-elect Donald Trump has endorsed the bill."

Over_ed said:

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Latest update - Jan 6th probable siging date

https://www.thinkadvisor.com/2024/12/31/biden-likely-to-sign-social-security-fairness-act-on-jan-6/

"The National Fraternal Order of Police, which has been a vocal proponent of the bill, posted Monday on its Facebook page that Biden plans to sign the bill into law on Jan. 6. The group, which has more than 377,000 members, said Monday that president-elect Donald Trump has endorsed the bill."

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How insensitive of him. Jan 6 is a national day of mourning. Or at least it should be.

Final Update - Biden signed evening of Jan 5th (Sunday)

Talked to my 80-year-old mother today. Her entire work career was in Texas as an elementary school teacher Her only claim to SS was the spousal benefits from her late second husband (my late father was also an educator). Due to the new changes, she just received a check for $20,000 and will be getting $1200/month from SS.

The Kraken said:

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Talked to my 80-year-old mother today. Her entire work career was in Texas as an elementary school teacher Her only claim to SS was the spousal benefits from her late second husband (my late father was also an educator). Due to the new changes, she just received a check for $20,000 and will be getting $1200/month from SS.

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My MIL is in a similar situation

The Kraken said:

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Talked to my 80-year-old mother today. Her entire work career was in Texas as an elementary school teacher Her only claim to SS was the spousal benefits from her late second husband (my late father was also an educator). Due to the new changes, she just received a check for $20,000 and will be getting $1200/month from SS.

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I assume that didn't just happen automatically? Did she have to apply for those additional benefits?

Not sure.

For anyone receiving any benefits from Social Security, they should probably be automatic. Part of the bill was to give last year - so the larger checks should chiefly be "catch-up" for 2024.

If they are not receiving anything from Social Security, I would suspect at least some will have to talk to Social Security. My understanding is that might be more difficult to do (for the first time) on the phone going forward, but not sure when any changes will be fully implemented.

So sooner might be better.

Martin Cash said:

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The Kraken said:

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Talked to my 80-year-old mother today. Her entire work career was in Texas as an elementary school teacher Her only claim to SS was the spousal benefits from her late second husband (my late father was also an educator). Due to the new changes, she just received a check for $20,000 and will be getting $1200/month from SS.

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I assume that didn't just happen automatically? Did she have to apply for those additional benefits?

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I'm not sure, I assumed she already had a claim submitted. If I think about it the next time I talk to her, I'll ask