The Social Security Fairness Act was passed last year and included a retroactive Social Security benefit increase for over 3 million beneficiaries. The SSA recently gave an update and revealed that more than 1 million people have already received $7.5 billion in catch-up payments, with much more on the way.

*Stock prices used were the morning prices of March 6, 2025. The video was published on March 7, 2025.

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The $22,924 Social Security bonus most retirees completely overlook

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $22,924 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click here to discover how to learn more about these strategies.

View the “Social Security secrets” »

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Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.