People who were born between the first and the tenth day of the month receive their money on the second Wednesday of the period. Those with a date of birth between the 11th and 20th do so third and those from the 21st to the 31st do so last.
The SSA already deposited the usual social assistance for the month on June 3 to people who retired before May 1997, and on the 12th those retirees whose birthdays were from the 1st to the 10th of any month received their payment.
Who will receive the advance payment?
However, some recipients will receive in advance the check for the third week of June that should be deposited on Wednesday the 19th. This is because the day coincides with the celebration of Juneteenth, a national holiday that commemorates the emancipation of slaves in USA.
This Tuesday, June 18, the beneficiaries who will receive a check in advance will be those whose birthday is between the 11th and 20th of any month. In addition, it also includes those enrolled in Disability Insurance (SSDI) and survivors.
These adjustments are made by Social Security when the payday falls on a weekend or holiday, so it is advanced to a business day.
For their part, Supplemental Security Income (SSI) recipients do not have any remuneration scheduled for the sixth month of the year, since it had already been advanced to them on May 31, since June 1 fell on a Saturday.
How much will the beneficiaries receive?
The amounts retirees receive each month vary depending on retirement age and employment contributions, reflecting differences in accrued benefits and retirement decisions.
The average is $1,907 a month for an individual and $3,303 for couples filing jointly.
However, the maximum benefit is $3,822 for those retired at age 67, which is the full retirement age, $4,873 for those who delayed their retirement until age 70, while those who decided to retire at age 62 receive $2,710.
For SSI recipients, payments also vary based on their average lifetime earnings. The average check is US$1,537, with a maximum of US$3,822 by 2024.
The next expected payments from Social Security are for retirees born between the 21st and 31st of each month.
The entity will announce a new cost of living adjustment (COLA) for the year 2025 in October of this year in January 2025, which is currently estimated at 3.2%.
The Senior Citizens League, one of the largest nonpartisan senior groups in the country, estimates that the COLA for next year could be 2.6%, the lowest figure in five years, but better than the initial forecast of the 1.7% made in February 2024.
The 2025 cost-of-living adjustment would take effect in December to apply to next year’s January payments, which with a possible 2.6% increase, would be $1,956 for retirees. Likewise, SSI benefits would be set at $943 for individuals and $1,415 for couples.
@Lydr05
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FOUNTAIN: With information from RPP, El Cronista and El Comercio
