Over 2 million Social Security beneficiaries had their retirement incomes reduced because of two programs. Here's how the Social Security Fairness Act addresses that.

According to Joe Elsasser, a certified financial planner and the founder and president of Covisum, the law could result in a substantial wave of new Social Security claims by people at all stages of retirement — particularly those who would have had spousal benefits reduced to $0 by the Government Pension Offset.