Millions to get higher Social Security payments under new law

Biden says those affected will receive increased Social Security payments this year

President Biden on Sunday signed a measure into law that will boost Social Security payments for nearly 3 million current and former public employees.

Biden signed the Social Security Fairness Act, which effectively revoked two rules that reduced benefits for public employees receiving state pensions.

"The bill I'm signing today is about a simple proposition: Americans who have worked hard all their life to earn an honest living should be able to retire with economic security and dignity — that's the entire purpose of the Social Security system," Biden said during a signing ceremony in the White House East Room.

Biden noted that the new law "is a big deal" and that those affected will be receiving these payments this year. 

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