Although the Social Security Administration (SSA) has set May 22. 2024 as a payday, only some eligible recipients will collect this money. For example, if you began collecting retirement benefits before May 1997, you will not collect a payment on May 22.
In fact, those who started getting benefits before that date will receive their next payment on June 3. Another group that will not receive retirement benefits on May 22 is those whose birthdays are from the first to the twentieth. Besides, if you go to jail, you will not get Social Security if you are there for over 30 consecutive days.
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WHO WILL RECEIVE SOCIAL SECURITY ON MAY 22?
If you filed after April 30, 1997, and your birthday is from the 21st to the 31st, your money will be in your bank account on May 22. Therefore, retirees whose birthdays are from 21-31 will be eligible.
Bear in mind that May 22 will also be SSDI payday. Hence, disability benefit recipients could also receive money from Social Security on this same date. Of course, they must also have their birthdays from 21-31.
Social Security also sends spousal and survivor benefits, so some recipients who meet all the requirements may get their monthly payment on May 22. So, these are all the citizens who could get money before the June checks come.
SOCIAL SECURITY AMOUNTS FOR MAY 22
Whether you receive Social Security on May 22 or not, the average amount is the same for all retirees. The average retirement benefit is worth $1,913. That is at least as of March 2024, so it could be even slightly higher.
The maximum benefit for all the May payments, including May 22, is $4,873 for those who file at 70. Filing at Full Retirement Age will give you 100% of your benefits, but you will not get the 24% extra for filing late.
According to Social Security, the maximum benefit for those who file at Full Retirement Age is exactly $3,822. If you file at 62, you can only receive $2,710. If your retirement benefits are too low on May 22 or on any other payday, apply for SSI.