Depending on the different requirements, you may qualify for the May 15 payment or not. However, some retirees will get money from the Social Security Administration on this exact date.
Some retirement benefit recipients will collect Social Security on May 15 if their birthday is from 11-20. Therefore, you must have also been on benefits after April 30, 1997, but not before that date.
WHAT IF I GET NO SOCIAL SECURITY ON MAY 15?
It is possible that you do not qualify for the Social Security benefit payment on May 15. In that case, you have another possibility on May 22. Once more, it will take place on that date if you started collecting retirement benefits after April 30, 1997.
May 22 will be your payday if your birthday is from 21-31. If your birthday happens to be from 1-10, you will not receive Social Security until June 12. Those one benefits before May 1997 have a different payday too.
The same payday as for those who receive Social Security and SSI at the same time. In these 2 cases, they will receive a payment on June 3, 2024. Now, it is time to find out about the possible maximum and average amounts in May.
SOCIAL SECURITY PAYMENT AMOUNTS ON MAY 15 & 22
May 15 and May 22 will be 2 different paydays but with the same average and maximum amounts. The largest Social Security will be $4,873 on both payment dates. Thus, some retirees will receive a great deal of money.
The average payment for retirees will be about $1,915 as of April 2024. As you can see, there is a massive difference between average payments and maximum benefit amounts in the USA.
Other possible maximum amounts are $2,710 for those who file at 62, were high earners and worked for 35 years in jobs that paid enough payroll taxes. If you file at Full or Normal Retirement Age, you can receive up to $3,822. So, the more you delay retirement until you are 70, the larger your check will be.
