Not only is Social Security sending retirement benefits on May 3, but also on May 8, 15, and 22. Therefore, it is not too late to collect a monthly payment from the Administration.
To be eligible for Social Security on May 3 you must meet one of these 2 conditions. You can either be on SSI and retirement or be on benefits before May 1997. Any of these 2 conditions will be enough.
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NOT ELIGIBLE FOR SOCIAL SECURITY ON MAY 3?
If you do not qualify for retirement benefits on May 3, the next payment date will be May 8. The key requirement to get money on this day is to have your birthday from 1-10.
Social Security will also send checks and direct deposits on May 15. Just like the May 8 payment, retirees must meet the birth date requirement. Those whose birthday is from 11-20 will get money on May 15.
Finally, if you are on retirement benefits and do not qualify for a check on May 8 or 15, May 22 will be when you get a payment from Social Security. Of course, you must have been born from 21-31.
WHO WILL RECEIVE $4,873 FROM SOCIAL SECURITY?
Even if the average payment is worth just $1,913 as of March 2024, Social Security payments of $4,873 are possible. Undoubtedly, these large checks or direct deposits are just for few Americans.
Social Security requests filing at 70, apart from 3 more conditions. The easiest one for many will be to work for 35 years. Otherwise, you will get less money in retirement.
The most challenging condition is to earn the taxable maximum for 35 years. Do not forget that you must have jobs covered by SSA. If you meet all these requirements, you will receive $4,873 in May 2024.
Those American workers who file at Full Retirement Age (FRA) can receive up to $3,822 in May 2024. If you filed at 62, you can receive a payment of up to 2,710 dollars.