In this same week of February 2024 thousands of Americans will get their United States Social Security payments. Only one specific group will be able to collect the payment on the 14th day of the month itself. That is, the second Wednesday of the month. While it is true that we have had to wait until the third week of February, the payment schedule remains the same as always.
Even so, the requirements to get this new payment are the usual second Wednesday of the month. This is group 2 of retirees. If you belong to this group 2, you will get the payment on the 14th day. Actually, there is an extra requirement that has nothing to do with the group we belong to. But if we belong to group 2 we are almost ready to get the payment this week.
The other requirement is related to the collection method we have chosen. Similarly, group 2 has two fundamental requirements that are related to the year of retirement and the day of birth. This is true for all groups, so each group has its own specifications. In the case of not belonging to this group we will get the Social Security payment on another day of February.
List of retirees who will receive their Social Security on February 14
As we have already mentioned, not all Americans are eligible to get the new Social Security retirement payment. To do so, we must belong to retiree group 2. Likewise, it is also necessary to have the fastest collection method of all activated. Otherwise, we could get the payment this week, but not on the 14th day.
So, the retirees who will get this payment from Social Security will be those who:
- Were born between the 1st and 10th of any month.
- Have a Social Security benefit since 1997 or later.
- Activate Direct Deposit as a collection method.
This is the only way we will be able to get the benefit money on February 14th. If we do not have Direct Deposit activated, the payment will arrive in the days after it is sent. But the important thing to know is that the payment on the 14th will arrive on the same day if we meet these three requirements.
Who is eligible to receive Social Security on February 14th?
Eligibility for Social Security payments primarily depends on earning enough Social Security credits through work and paying Social Security taxes. Here are the key groups eligible for different types of Social Security payments:
- Retired Workers: Individuals who have earned at least 40 Social Security credits (approximately 10 years of work) are eligible for retirement benefits once they reach the age of 62, with full retirement age varying between 65 and 67 depending on the year of birth. The amount of the retirement benefit is based on the worker’s 35 highest-earning years.
- Disabled Workers: Individuals who cannot work due to a medical condition expected to last at least one year or result in death, and who have earned a certain number of Social Security credits, depending on their age at the time of becoming disabled, are eligible for Social Security Disability Insurance (SSDI).
- Survivors: Family members of deceased workers who had earned enough Social Security credits may be eligible for survivors benefits. This can include widows or widowers (eligible as early as age 60, or 50 if disabled), divorced spouses in some cases, minor or disabled children, and dependent parents.
- Dependents: Spouses (including divorced spouses in some situations), minor children, and disabled children of workers eligible for retirement or disability benefits may also receive benefits. For spouses, eligibility starts at age 62 or at any age if caring for a child under age 16 or disabled.
- Supplemental Security Income (SSI): Although not funded by Social Security taxes, SSI provides payments to adults and children with a disability and limited income and resources, and to people 65 and older without disabilities who meet the financial limits. SSI is managed by the Social Security Administration but is funded from general tax revenues.
The specific requirements for each type of benefit can vary, including the number of work credits needed and other criteria. It’s important to check with the Social Security Administration for the most current eligibility requirements and to plan accordingly.
Can I increase my retirement payment?
The amount of the Social Security check depends on several very important factors in an American’s life. These three factors are retirement age, years worked and salary during those years.
If we maximize those three aspects we will have a larger retirement check. But it is important to always keep in mind that we must plan for our retirement before we apply for it. Once we ask Social Security for our retirement check, we will not be able to increase it. Therefore, if we reach a figure close to the $4,873 maximum our golden years will be better.
In the event that our retirement is not very large, we can always ask for other extra benefits. In addition to SNAP Food Stamps, eligible beneficiaries can also apply for Supplemental Security Income. These two monthly payments can be very useful for retirees with low monthly income.