August 2, 2024, is a payday for millions of American retirees. However, the Social Security Administration is not sending all the checks and direct deposits on the same payday.
In fact, only two groups of American retirees can receive money on the 2nd. If you are on Social Security and you are also receiving SSI (Supplemental Security Income), you qualify for a payment on August 2. But also if you started getting retirement benefits before May 1997.
Retirees not getting Social Security on August 2
If you got retirement benefits after April 30, 1997, and you are not on SSI (Supplemental Security Income), you will not receive a Social Security payment on August 2.
Actually, you may obtain your monthly payment on August 14, 21 or 28. What is more, the Social Security Administration will deliver this money to those who meet the birthday requirement.
For example, if you were born before the 11th, you will get money from the Administration on August 14, 2024. Those whose birth date is from 11-20 will receive it on August 21. But if you were born after the 20th, your payment is due on August 28.
Which other Americans may not get a Social Security payment on August 2?
Those Americans who are just beneficiaries of the Supplemental Security Income will not get a payment on August 2. They actually get money on August 1 and 30.
If you go to jail or are confined to a government institution for over 30 days, you will not receive a payment on August 2 even if you qualify. Those who have lost their benefits due to fraud will not get it either.
Bear in mind that the average payments will be the same for all retired workers regardless of the payday. For instance, if you are on retirement benefits you can receive about $1,918 on average. The largest benefit payment retirees can receive in August is worth $4,873 if they filed at 70.
