The summer holidays are just around the corner and about 72 million retirees are looking forward to getting money from the Social Security Administration in the United States.
Actually, there are just 2 payments left in June and only one of them after summer starts. Social Security will send new payments on June 18 and June 26. To be eligible you must have been born between 11-20 or 21-31 respectively. These payments are only for those on benefits after April 30, 1997.
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Social Security Payments for July & August
July will have 5 different paydays. Supplemental Security Income recipients will get their direct deposit or check on July 1. July 3 will be a new payday for those on SSI and retirement or SSDI but also for those who began getting benefits before May 1997.
After that, there will be payments for those on benefits after April 30, 1997. In their case, Social Security will use their birthdays to arrange payment dates. If your birthday is from 1 to 10, your payments will be on July 10 and August 14.
If it is from 11-20, payments on July 17 and August 21. Or from 21-31, July 24 & Aug. 28. August 1 and August 30 will also be payday for SSI recipients. August 2 will be for those who qualify for the July 3 payment or meet those requirements.
Social Security Maximum Amounts
The Administration has announced the maximum retirement, SSI and SSDI amounts for Americans. As of 2024, the maximum retirement benefit payment will be $4,873.
This is only possible if a worker has filed for Social Security at 70, had jobs covered by SSA, worked for 35 years at least, and earned the taxable maximum all this time.
The maximum amount for those who file at Full Retirement Age or for those on SSDI is $3,822. If you are on SSI, you maximum payment can be up to $943 for singles and $1,415 for married couples. The average payment for retirees is worth $1,915 and $1,537 for SSDI.