Big changes are coming to Social Security recipients through the end of March. For instance, beneficiaries will receive retroactive payments dating back to January 2024, averaging $6,710.
Meanwhile, on March 27, the SSA will reverse the overpayment recovery policy, allowing 100% benefit withholding, except for those on existing repayment plans who will continue with a 10% cap.
And effective March 31, stronger identity verification will be implemented, restricting telephone-based claims until a recipient’s identity can be verified in person.
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Big changes are coming through the end of March for millions of Americans who collect Social Security benefits, potentially adding a few extra dollars to their checks.
The rollout of the Social Security Fairness Act, signed in January, is the most significant change. The law repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).
WEP and GPO repeal
According to the Social Security Administration’s website, the WEP and GPO reduced or eliminated the benefits of more than 3.2 million people who receive a pension based on work not covered by Social Security, also known as a “non-covered pension,” because they did not pay Social Security taxes. This new law increases benefits for certain types of workers.
Beneficiaries should see retroactive benefits dating back to January 2024, with payments made via direct deposit by the end of March. According to the SSA website, the average payment is $6,710.
Overpayment recovery
On March 27, the SSA will reverse a pandemic-era policy on overpayment recovery. This means the agency will have the ability to withhold 100% of a person’s benefit to recover past overpayments, marking a significant change from the 10% cap under the Biden administration. However, those already on a repayment plan will continue with their 10% cap.
New identity features
Starting March 31, the SSA will implement stronger identity verification procedures, including limiting telephone-based claims for benefits.
The SSA memo states, “SSA will permit individuals who do not or cannot use the agency’s online my Social Security services to start their claim for benefits on the telephone. However, the claim cannot be completed until the individual’s identity is verified in person.”
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