Millions of retirees will receive the first wave of retirement checks from Social Security for September, which are worth up to $4,555 for seniors who are at least 70, in 17 days.
The first payment will go out Wednesday, Sept. 13., the second Wednesday of the month, and will go to people who were born between the first and the 10th of their birth month. The second round goes out exactly a week later for the next 10-day block, on Sept. 20. The final distribution will be released on the fourth Wednesday, Sept. 27, for those born from the 21st through the 31st.
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Another group of retirees who also see monthly payments, which consists of seniors who receive both Supplemental Security Income and Social Security benefits, people who retired before 1997, and U.S. retirees who live outside of the country, will receive payments Sept. 7 regardless of the day of the month they were born.
The maximum payments for each retiree depend on certain factors, including the person's age at retirement. Those who retire at the earliest age of 62 get up to $2,572 each month. Those who retire at the full retirement age of 67 receive a maximum check of $3,627 per month, and those who delay their retirement to 70 get the largest payment of $4,555 per month, according to the Social Security Administration.
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There is still a debate happening on Capitol Hill about the long-term outlook on Social Security's future, but changes to the program will be necessary if Congress does not agree on funding for the program before its trust runs out in the next 10 years. Changes could include restructuring how the payments go out and how much money recipients receive, but people already on Social Security would not likely be affected by any changes.
Retirement payments are different from other checks handed out by the SSA, such as disability insurance or Supplemental Security Income. The next round of SSI payments is scheduled to be paid out to eligible recipients on Sept. 1.
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Social Security Update: Direct payment worth up to $4555 goes out to millions in 17 days - Washington Examiner
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