Biden estimated the bill should lead to an average monthly increase of $360 for certain public employees and their spouses and survivors. The outgoing president said more than 2.5 million Americans will receive a lump sum payment worth "thousands of dollars" to compensate for the benefits they should have received last year.

The Social Security program is very complex and has many rules regarding who can claim benefits, when they can claim benefits, and how much they can claim. The Social Security Fairness Act eliminated two provisions called the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).

The Social Security program undergoes a series of revisions each year to ensure benefit payments keep pace with inflation and wages. The latest round of revisions took effect in January, and a recent survey published by Nationwide Retirement Institute suggests some of the changes will surprise many Americans.

However, for 42.5 million Americans, living with a disability is their everyday life. If you're struggling with a disability, you're far from alone. Thankfully, a vital safety net exists - Social Security Disability Insurance.