Millions of retired seniors will receive their monthly payments of up to $4,555 from Social Security in one week as part of the first wave of September retirement checks.
The first wave of payments will go out on Sept. 13, the second Wednesday of the month, and they will go to people born between the first and 10th of the month. The following disbursement, for those born between the 11th and 20th of a month, will be released on Sept. 20. The final wave of payments will go out a week later on Sept. 27, and it will be for those born on or after the 21st of a month.
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The maximum payments for each retiree depend on certain factors, including the person's age at retirement.
Seniors who retire at the earliest age of 62 can receive 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 can collect up to $4,555 per month, according to the Social Security Administration.
A separate group of retired seniors also sees monthly retirement payments. The group consists of seniors who receive Supplemental Security Income and Social Security benefits, people who retired before 1997, and U.S. retirees who live outside of the country. Regardless of the day of the month they were born, people in that group will receive payments on Sept. 7.
These payments are different from other checks handed out by the SSA, such as disability insurance or Supplemental Security Income.
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Changes to the federal program in the near future could be necessary if Congress does not agree on funding for the program before its trust runs out in the next 10 years.
Possible changes to the program include restructuring how the payments go out and how much money the recipients receive, but people already on Social Security should not be affected by these changes.
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September 06, 2023 at 05:00PM
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Social Security update: Direct payment worth up to $4555 goes out to millions in one week - Washington Examiner
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