Social Security Fairness Act signed into law by Biden, enhancing retirement benefits for millions

President Biden on Sunday signed legislation expanding Social Security benefits for millions of retired Americans, including firefighters, police officers and teachers.

"Americans who have worked hard all their life to make an honest living should be able to retire with dignity," Mr. Biden told a gathering at the White House before signing the Social Security Fairness Act, which he said would mean an average monthly increase of $360 for more than 2.5 million Social Security recipients. 

Those beneficiaries will also receive a lump sum in the thousands of dollars to make up for retroactive payments for 2024, the president said.