Every month the Social Security Administration sends retirees in the United States a new check. In order to receive a check, a number of requirements must be met. Even if we have worked and contributed part of our life, we must have a minimum of basic conditions to be able to reach a monthly check from Social Security.
If we have a previously accepted benefit, we will receive this check every month. But not all retirees are paid on the same day. In total, the Social Security Administration pays 4 different checks per month to different groups of retirees. Within this classification, it does not matter whether retirees are retired because of age, disability, or some other reason.
In this way, we can determine on which day we will get our Social Security check regardless of which group of retirees we belong to. The important thing to know on what exact day we will receive our check is related to the year of retirement and the day of birth. Thanks to these two elements we will be able to mark on the calendar on which day we will receive the benefit.
To this we must add the method of payment. Choosing the method of collection is as important as it can mean that within a month we will not have one of these checks. This is the case this June, when due to a calendar irregularity we may find that a specific group of beneficiaries will not receive their monthly Social Security benefit.
Who might not receive a Social Security check in June?
The group of retirees we are referring to is the last group of retirees to receive their monthly benefit. This group has the following characteristics: A post-1997 retirement check and a birthday between the 21st and 31st of the month.
Retirees who belong to this group always receive their benefit on the last day of Social Security. In this month of June this goes to the extreme, and that is because the calendar started on a Thursday. Since this is so, the last Wednesday of the month is on the 28th, which is very close to the last day of June, the 30th.
Because of this calendar day arrangement, the Social Security Administration sends the check on time but some retiree may receive it too late. The group of beneficiaries who will receive checks late are those who do not have Direct Deposit activated.
If we want to have the payment before the end of June, we must activate this collection method. The reason is very simple, and is that the money can take up to 3 days to arrive at the bank. To that we have to add that there may be a weekend in between. This would mean that a retiree could receive the June benefit money on July 3 or 4.
So watch out for your check and the collection method you choose so you can get your money as soon as possible. If you don’t, you may not receive your benefit on time and that means your budget for the month could take a big hit.