The Social Security Administration can pay $4,873 to eligible retirees in the United States on May 22. However, there is a list of requirements you must first meet. Otherwise, you may get a payment but not as large as this one.
Bear in mind that to get a Social Security payment on May 22, you must be on the list of those citizens whose birth date is from 21-31 of any month. Besides, you cannot have received benefits before May 1997, but later.
LIST OF SOCIAL SECURITY REQUIREMENTS TO GET $4,873 ON MAY 22
The first condition to qualify for $4,873 is to file for retirement benefits at the age of 70. Those workers who opt for filing from 62-69 will not get a reward. What is more, early filers will get a reduction.
Then, another condition to get $4,873 is to have worked for a minimum of 35 years. Working more than 35 years is fine, but fewer years means getting less money. So, make sure you file at 70 and have worked for 35 years.
Keep in mind that Social Security also wants you to earn the taxable maximum for 35 years. This will immediately make you eligible if you meet the 2 previous conditions. Do not forget that if you had jobs not covered by SSA, you can not file for retirement benefits.
OTHER PAYMENT AMOUNTS FOR SOCIAL SECURITY RECIPIENTS ON MAY 22
If you have filed at 62, you can only get up to $2,710. Other retirees may just get average payments, which will be much lower than those who get the maximum benefit amounts at 62 or at 70.
The average Social Security retirement benefit is worth $1,913 as of March 2024. That could be a great amount, but some get lower payments so they could file for Supplemental Security Income.
Those retirees who filed at Full Retirement Age will receive 100% of their benefits. In fact, they could get a Social Security payment worth $3,822, that is the maximum benefit at Full Retirement Age.