MIAMI.- The Social Security Administration (SSA) continues to send checks corresponding to the fifth month of the year to the beneficiaries of the different Social Security programs that began to become effective on May 1.
Social Security is a federal program that benefits more than 70 million retirees, people with disabilities and survivors who do not have the necessary resources to cover their needs in the midst of national inflation.
Eligible individuals must have a Social Security number (SSN), be a beneficiary of the program and be a US citizen, permanent resident or obtain a work permit in the country.
How much money do retirees receive?
Not all beneficiaries will receive the same amount of money during the May contribution, because they depend on the salary during their time as a US worker, years worked, retirement age and other factors such as payment of Social Security taxes .
The amount can reach $943 for those who file taxes individually and $1,415 for those who file as a couple. While the maximum benefit for people who retired at the full retirement age of 70 is $4,873, those who retired at age 62 receive $2,710 and those who retired at age 67 receive $3,822.
Likewise, the average payment for elderly couples, in which both are beneficiaries of this assistance, is $3,033, an elderly surviving spouse can collect $1,773, and a surviving couple with two children receives $3,653.
These new amounts represent a 3.2% increase in the Cost of Living Adjustment (COLA) established as of January, which reflects an increase in social benefits of $59 compared to 2023.
Why will there be a double payment in May?
According to the SSA payment schedule, which sends the payment every Wednesday of the month according to the date of birth, some beneficiaries of the program will receive a double payment in May.
These are people over 65 years of age, children and the disabled who receive financial assistance from Supplemental Security Income (SSI).
This is because although SSI benefits are sent on the first day of each month, June 1st falls on a Saturday, so the payment for that month will be advanced and deposited on May 31st.
SSI beneficiaries will also receive advance payments in August and November 2024. Considering that when the 1st of the month falls on a Saturday, Sunday or holiday, the payment is advanced to the Friday of the previous month.
According to the SSA, like retired pensioners, an SSI beneficiary will get $943, a couple $1,415, and an essential person $472.
For his part, a worker with a disability will receive a monthly payment of $1,537, $2,590 in the case of visual impairment and $2,720 for workers with disabilities, along with their spouse and one or more children.
To be eligible for SSI, people must meet a series of requirements that demonstrate that they require this additional benefit. These include having limited income and resources, being totally or partially blind, and having a physical or mental condition that limits daily activities for 1 year or more.
On May 3, the SSA sent the payment to beneficiaries who began receiving their payments before May 1997. Additionally, last Wednesday, May 8, it distributed payments to those born between the 1st and the 10th.
This Wednesday the 15th, supplementary assistance arrived for people with a date of birth between the 11th and the 20th. As for the next payments, on the 22nd they will be deposited to beneficiaries who were born between the 21st and the 31st.
@Lydr05
Source: With information from Management and AS USA Latino and RPP
