MIAMI.- It is expected that at the beginning of the month of Marchmillions of beneficiaries of the the Social Security Administration (SSA) receive the payment corresponding to the second check of 2024.
Social Security benefits more than 70 million retired and disabled Americans who each month receive funds intended to cover the needs of low-income retirees, older adults and people with disabilities in the midst of the inflation that the country is going through.
Those eligible must have a low income, be totally or partially blind, and have a physical or mental condition that limits daily activities for a period of 12 months or more.
How much did the payment increase?
This year, the amounts that retirees and beneficiaries of the various SSA social programs will receive received an increase of 3.2%, due to the Cost of Living Adjustment (COLA) in relation to 2023.
This second payment of the year, which will be sent starting next Friday, March 1, will be received mainly by the beneficiaries of the Supplemental Security Income (SSI) program, which is part of the economic support provided Social Security.
It should be remembered that in the month of January no remuneration was given, due to the advance to December.
Not all beneficiaries would be receiving the maximum payment. These can range from $943 for those who filed their taxes individually to $1,415 for those who filed jointly.
Likewise, people recognized as essential, for caring for SSI beneficiaries, may receive up to $472.
For their part, individual retirees will receive an average payment of $1,907, while for couples the average check amounts to $3,303.
Likewise, with the COLA increase, retirees at age 62 receive $2,710. Meanwhile, people retired at age 67, which is the average retirement age, receive $3,822 and those retired at age 70 receive $4,873.
Financial aid from the federal program is given on the second, third and fourth Wednesday of each month, depending on the date of birth. If the first day of the month falls on a Saturday, Sunday or holiday, payment is advanced to the last Friday of the previous month.
Social Security payment dates for March 2024
The SSA establishes a payment schedule with the exact dates on which each beneficiary receives their checks.
If you were an SSI recipient before May 1997, you will receive help on Wednesday, March 6
If your birthday falls between the first and the tenth day of your birth month, your Social Security payment will arrive on March 13.
For those whose birthdays are from the 11th to the 20th, their payment will take place on March 20.
While those beneficiaries with birthdays after the 20th will obtain the benefit on March 27.
@Lydr05
Source: With information from La Opinion and La Nación
