The first Americans to receive money will be those on SSI benefits. Social Security has confirmed that Supplemental Security Income recipients receive money on July 1, 2024.
Therefore, they can get average payments of about $697. Some SSI beneficiaries can get up to $943 (single) or up to $1,415 (eligible married couples). But other Social Security payments in July will not take long.
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Social Security retirement and SSDI before Independence Day, July 4
Both SSDI and retirement beneficiaries may be eligible for the July 3 payment. They must belong to one of the 2 groups of recipients that qualify. If they are on benefits, but do not meet the requirements, they may have to wait until July 10, 17 or 24.
So, their money will be in their bank accounts after Independence Day. If you are on both SSI and Social Security, you will receive your money on July 3, right before Independence Day.
Those who started receiving Social Security before May 1997 qualify for a direct deposit or check on July 3. Hence, these are the Americans who will receive money before July 4.
Social Security amounts before Independence Day
The Administration will send checks of up to $4,873 for those who receive retirement benefits in July. So, that is the maximum retirement benefit before Independence Day.
SSDI recipients have a different maximum amount. Social Security can give Disability Recipients who meet all the requirements up to $3,822. Actually, average payments are much lower.
If you get an average payment, you may receive about $1,916. The average SSDI payment is worth about $1,537. Since workers with a disability cannot continue working they may not reach the necessary number of years to get higher payments.
Bear in mind that to qualify for the largest Social Security payments you must have worked for 35 years, earned the taxable maximum all this time, filed at 70, and had jobs covered by SSA.