MIAMI.- The more than 71 million Social Security beneficiaries have already begun receiving payments for the month of May from the Social Security Administration (SSA), which allow them to cover cost of living expenses in the midst of the inflation that the country is going through.
This federal government program offers financial assistance to retired workers, survivors, as well as low-income Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) disabled people.
According to the SSA schedule, the money is disbursed on the first day of each month for people dependent on SSI checks, which means that this May 1, the beneficiaries have already received their payment.
This year, SSI benefits are $943 for an individual and $1,415 for couples. Likewise, people recognized as essential, for caring for a beneficiary, will charge up to $472.
Meanwhile, the average amounts for retired workers vary from one beneficiary to another. Due to the 3.2% increase in the Cost of Living Adjustment (COLA), the checks in 2024 are $1,907 per month for an individual and $3,303 for couples filing taxes on the whole.
Who will receive the Social Security payment this May 3?
However, this is not the only disbursement that will be distributed this week, this Friday, May 3, more people will receive the check corresponding to this month.
According to the SSA schedule, those who will receive the fifth payment of the year are retired workers who began receiving the benefit before May 1997.
The amount of deposits or checks varies depending on people’s retirement age and contributions throughout their working careers. The sum for people who had an early retirement at age 62 will be $2,710 and for those who retired at age 67, it will be $3,822.
On the other hand, the maximum benefit for eligible Americans who retire at full retirement age will be $4,873, while an elderly widow will receive $1,773 and a surviving couple with two children will receive $3,653.
SSA payment schedule in May
The next Social Security payments are for retirees, widows and SSDs, they will be provided on Wednesdays of the month, according to the day of birth of the beneficiaries.
Those born between the 1st and the 10th receive the money on the second Wednesday of the month, while those with a birth date between the 11th and the 20th receive it on the third Wednesday and those from the 21st to the 31st receive it on the last Wednesday.
In addition, SSI beneficiaries will receive another payment corresponding to the month of June, because the date falls on a Saturday, and as established by SSA regulations in case the first day of the month is a holiday or falls on the weekend. week, it must be advanced
These are the dates of Social Security payments for the month of May:
Wednesday, May 8: Beneficiaries with a date of birth between the 1st and the 10th
Wednesday, May 15: Beneficiaries with a date of birth between the 11th and the 20th
Wednesday, May 22: Beneficiaries with a date of birth between the 21st and the 31st
Friday, May 31: SSI beneficiaries.
@Lydr05
Source: With information from La Opinion, Gestión and RPP
