The Social Security Administration (SSA) runs many programs that help people in the United States get by. All of the benefits that people wait for, like Supplemental Security Income, Family and Survivor benefits, Disability benefits, and Retirement benefits, have their own rules and schedules that are meant to make sure that everyone gets their benefits on time and without any problems.
The SSA has mastered the delicate balance of making sure accuracy because the beneficiaries are enrolled in different programs with different schedules and some are beneficiaries of two or more programs. The total number of beneficiaries is around 70 million.
The Social Security payment distribution
Supplemental Security Income (SSI) is based on three things: disability, age, and income. Payments are always sent out on the first of the month to people who are eligible.
If the first falls on a national holiday or weekend, the payment is sent out the day before, when banks were open and the US postal service was running. This payment can go as high as $943 for an individual and $1,415 for a couple. However, there are many things that can make this payment less, such as getting other benefits.
There is only one schedule for retirement, survivorship, family, and disability benefits. This is because it is easier for beneficiaries to switch from one benefit to another if the schedule stays the same over time.
All people who started getting benefits before May 1997 will get them on the third of every month. Just like with SSI, if the data falls on a national holiday or weekend, payment will be brought forward to the day before, when banks were open and the US postal service was running. The date will never change, no matter what kind of benefits are claimed.
Benefit recipients who began getting payments after May 1997 will get their payments based on their date of birth, as shown below:
- Those born between the 1st and the 10th of every month will receive their benefits on the second Wednesday of the month
- Those born between the 11th and the 20th of every month will receive their benefits on the third Wednesday of the month
- Those born between the 21st and the 31st of every month will receive their benefits on the fourth Wednesday of the month
Which means that people whose birthdays are in November and fall between November 11th and November 20th will get their money on November 20th.
Even though these payments are made on the same date, they are sent to different people in different ways and for different amounts. For example, the most a retiree can get from Social Security in 2024 is $4,873. In order to get it, you had to work for at least 35 years, make the most money possible, and retire at age 70.
Disability income gives monthly payments to people who can’t or can’t work because of a disability, but they have to have enough work credits to be eligible. It comes with a monthly payment and Medicare health insurance because it is for disabled people. The amount of benefits you get depends on your record, just like when you retire.
Survivor benefits pay eligible family members of people who worked and paid Social Security taxes before they died every month. Beneficiaries might be able to get benefits and Medicare coverage, but it will depend on whether they are a spouse or a child.
Family benefits, which are often called “spousal” or “child” benefits, pay certain family members of people who are eligible for retirement or disability every month. People who get the benefit can get up to half of the amount that a family member would get at their Full Retirement Age.
Read Also :- Retirees, You Should Be Prepared for What’s Coming in 2025 – Major Changes in Social Security Benefits Announced
