The United States Social Security Administration will send out a new check on February 14, 2024. This check will only be for a specific group of retirees. If you are in this group, you will be able to enjoy a maximum check of $4,873. If you are not in this group but you are retired, you don’t have to worry. The retirement check will hit your pocket just the same regardless of which group you belong to.
But it’s important to keep in mind that the Social Security Administration divides retirees into four different groups. Depending on which group you belong to, you will be able to collect your retirement payment sooner or later. The collection system is quite easy because it facilitates the organization of American households. And thanks to knowing on which day we will get our check, we will be able to make the monthly budget.
Even so, some Americans do not fully understand the payment schedule. That’s why it’s very useful to check from time to time when the government sends checks to retiree groups. And on this February 14th a particular group will get a payment. The rest of the retirees will collect later or even have already collected Social Security in the previous days.
Which retirees will collect Social Security on February 14th?
A specific group of Americans will be able to get payment on February 14th, 2024. In order to get a Social Security payment on this day, retirees must meet two requirements. Without meeting these two requirements it will be impossible to get payment on this day. It is important to keep this in mind, as the two requirements are mandatory.
Thus, the two requirements for these retirees are:
- Have had a Social Security retirement check since May 1997 or later.
- Have a birthday between the 1st and 10th of the month.
The first of these requirements is part of the requirements for a large group of retirees. The Administration divides retirees according to whether they have had their check since before May 1997 or after that date. In turn, the group after that month has a subdivision. This subdivision includes beneficiaries as of February 14th, 2024.
Can I increase my retirement check?
The maximum Social Security check for retirees is $4,873 in this year 2024. This is since the COLA increased the retirement payment by 3.2% starting in January of this same year 2024. Next year we could see another increase thanks to the COLA.
In order to be able to increase the retirement check, it is necessary not to have applied for it yet. And that is because the payments of retirees depend on their history as workers. Therefore, once we request a check, it is no longer possible to increase it.
However, while we are working we can maximize the check within our possibilities. On the one hand, we must work a minimum of 35 years. On the other hand, we must have a good salary during those years worked. Finally, the retirement age is also key to have a better or a worse check.
Regarding that, if an American decides to retire at 62 he will lose part of his benefit. Only retirees who wait until 67 can have 100% of the money contributed. The rest of Americans will not get all the money they have contributed, so they should watch out for that.