July 3 was the last Social Security payment for those who retired before May 1997 or those getting SSI simultaneously. After these direct deposits, there will be three more rounds of payments.
It is not unlikely that some retirees have received their July 3 payment on Independence Day, that is the 4th of July. Sometimes some banks or financial institutions may take longer to process payments. Reporting a missing payment after 3 mailing days is necessary said SSA.
New Social Security payments after the 4th of July
If you are not on SSI and you did not begin receiving retirement benefit payments before May 1997, July 10 could be your next payday. However, you must meet one requirement.
This condition has to do with the day you were born. The month or year does not really matter. For example, if your birthday falls on the 1st to the 10th, you new payment date will be July 10.
Those retirees whose birth date is from 11-20 will collect checks or direct deposits on July 17. Finally, the last opportunity to get money will be on July 24. Of course, your birthday must be from 21-31 as you may have guessed.
Maximum amounts for retirees on Social Security after the 4th of July
The maximum amounts will depend on the age you filed. Nevertheless, there will be other important factors that can make your payments increase or decrease considerably.
To get $4,873, the largest Social Security benefit payment in 2024, you must have worked for 35 years, earned the taxable maximum all this time in jobs covered by SSA and filed at 70.
Other maximum amounts for different filing ages are $2,710 at 62 and $3,822 at Full Retirement Age (66 years and 8 months old). Average payments are about $1,916 as of May 2024. August 2 will be your next payment date if you got benefits before May 1997. SSI recipients will not get money until August 1.