In January, the Social Security Fairness Act was signed into law, marking a significant change for public sector retirees. This legislation eliminates two provisions that previously reduced Social Security benefits for millions of teachers, firefighters, police officers and other employees. Here’s what you need to know.

Based on consumer price index data for June, Social Security recipients could receive a record high cost-of-living adjustment in 2023 due to rising inflation. This would represent the first time an increase has reached double digits in four decades.

Based on Consumer Price Index data through March 2021, Social Security recipients could receive up to a 6.1 percent increase to their benefits next year due to the nation’s surging inflation rate.