The Social Security Administration has about 72,000,000 beneficiaries in 2024. Therefore, there will be millions of payments in June since June 3 was the only payday so far this month.
Although some U.S. recipients could get less than $1,915, others could receive a great deal more. The reason why this happens is because your retirement benefit depends on your earnings as a worker, the taxes you paid, the number of years you worked for, and the age you filed.
Who can receive a Social Security payment worth $1,915 on June 12?
The June 12 payment will only be for retirees who got retirement benefits after April 30, 1997. What is more, they must also meet one condition that the Administration has set.
Secondly, recipients must have their birthdays on the first ten days of any month. That implies your birth date falls from the 1st to the 10th. For example, those recipients whose birthday is after the 10th, cannot be eligible for the June 12 payment.
If you meet both requirements, you could receive a Social Security payment. The amount will depend on your background. The average benefit payment is $1,915.
Who can receive more money on June 12 from Social Security?
Retired workers who earned the taxable maximum for more than 34 years may get a lot more. In fact, the largest retirement benefit is worth $4,873, up from $4,555 in 2023 after COLA.
The four things you need to bear in mind as a worker are the following ones: work for a minimum of 35 years, file at the age of 70, earn the taxable maximum for 35 years too, and have jobs that pay taxes to SSA.
American retirees who are on Social Security and do not qualify for June 12 payment could get a check or direct deposit on June 18 or June 26. Birthdays from 11-20 or 21-31 are essential respectively. Those on retirement and SSI get a new payment on July 3. If on benefits before May 1997, July 3 will be your payday.
When will retirees who received benefits before May 1997 receive their next payment?
If you were receiving Social Security benefits before May 1997, you should have received your payment by June 3, 2024 . This is because retirees who began receiving benefits before May 1997 are paid on the 3rd of each month, rather than on one of the three Wednesdays like most other Social Security beneficiaries.
If the 3rd falls on a weekend or holiday, they will be paid on the first Friday of that month. However, June 3, 2024, is a Monday, so payments will be made on that date as scheduled.
