The first Social Security payment of up to $4,873 is due on August 2, not August 3. This new payday is because the third falls on a Saturday. Therefore, it will be sent 24 hours in advance to avoid possible delays if sent on the weekend.
Most retirees will only get an average payment of about $1,918 though. To get up to $4,873 you must meet all the requirements Social Security established to achieve it. August 2 will be your payday if you receive Supplemental Security Income and retirement or SSDI. Or if you got benefits before May 1997.
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Social Security payments of up to $4,873 from Mid August
The second round of payments will be in the recipients’ accounts on August 14, 2024, if they were born from 1-10. Retirees will receive this or the 2 upcoming payments if they did not start getting Social Security before May 1997, do not collect SSI payments, and meet the birth condition.
Another possibility is that recipients get their retirement benefit payment on August 21. This will be on the third Wednesday in August. Retirees will receive money on this day if their birth date is from the 11th to the 20th.
The last Social Security payment will be arriving on August 28. This payday will be for those seniors whose birthdays are after the 20th of any month. As for the amount, it will depend on the worker’s background.
Social Security check of $4,873 and eligibility
To get the largest retirement benefit payment in August, a retired worker must have earned the taxable maximum for 35 years at least. This is the most challenging thing for most Americans.
Not everyone can choose such a well-paid job. so, that prevents millions from getting $4,873. What is more, you must file 3 years after Full Retirement Age, that is when you turn 70 years old.
If you did not pay enough payroll taxes, you will not receive $4,873 from Social Security either. Having jobs covered by Social Security is essential to qualify for any sort of retirement benefits.