Getting a large Social Security payment is possible if you meet all the strict requirements SSA established. October brings 4 different paydays for retirees, regardless of your payment amount.
The payment dates that Social Security has set are October 3, and then a round of three Wednesday payments. These direct deposits will be due on the second, third, and fourth Wednesday in October. That is: October 9, 16, and 23.
Americans who can get $4,873 from Social Security in October
For your information, receiving $4,873 is possible but it is absolutely challenging. That is why there is a very small percentage of workers in the U.S. that are successful in achieving it. Requirements are:
- file when you turn 70 years old, but not before that age
- work for a minimum of 35 years
- earn the taxable maximum, $168,600 in 2024, for all those years mentioned before
- work in jobs that pay Social Security taxes
Those who manage to succeed in all these conditions can get $4,873 on the payment date they qualify for. Let’s have a look at the payday eligibility for October 3, 9, 16, and 23.
Eligibility for Social Security in October, checks of up to $4,873
The October 3 payment will be sent to those workers who applied and got benefits before May 1997. If you are receiving SSI and Social Security retirement benefits you can also receive a payment on the 3rd, but you cannot receive $4,873 because you must have a low income to get SSI.
October 9 will be your payday if you started getting Social Security after April 30, 1997, and were born from 1-10. After this payment, the next one will have almost the same requirements.
To get money from the Administration on October 16 you must have been born from 11-20. Those born from 21-31 who got benefits after April 30, 1997, will receive their checks of up to $4,873 on October 23, 2024. Average payments will be about $1,920. Payments do not include the 2025 COLA in October.