Thousands of United States citizens will be able to enjoy a new United States Social Security payment with a maximum of $4,873. This maximum payment is not available to everyone, but anyone who qualifies can get a check regardless of the amount.
In this sense, getting one of these payments means collecting the January Social Security retirement benefit. This means that if we collect this benefit it means that we are in the first of the groups to get a check and, therefore, we will not be able to receive a different payment within the month of January.
Each group of retirees gets their benefit on a different day. We cannot receive two retirement payments in the same month, with some exceptions. So be sure to understand if you are eligible for this benefit, because if you are, you will receive your Social Security in just a few hours.
The Social Security Administration will send this new check and then send another three checks each month. Getting one or the other is just a matter of meeting the established requirements. If we meet them, we will have it in a few hours. If not, we will have to wait a little while.
WHO GETS $4,873 FROM SOCIAL SECURITY?
The group of Social Security beneficiaries who will get $4,873 in the next day is the group of pre-1997 retirees. Only beneficiaries who have had the benefit since before that year will be able to enjoy this new payment.
In this group there are no exceptions or separation for birthdays as there are for post-1997 retirees. So regardless of your birthday you can get this payment on this day, which will be January 3, 2024. This payment is the first of the retirement payments for the entire year 2024.
Therefore, it will carry this year’s COLA included, for that reason the maximum check can be $4,700. This does not mean that all Americans with a benefit will get that amount. Only those with the maximum check can get such a high figure.
Every American will get their 2023 payment with 3.2% added on. This is the COLA and there is no way to extend it, but we will have to settle for that increase even if it seems small to us. Best of all, we don’t have to do anything to get Social Security to increase since the COLA is an automatic process.
After the January 3rd payment there are three more payments this month. These payments will be on January 10th, 17th and 24th. On each of these days a different group of retirees will receive their benefits. If you do not get your benefit on January 3rd you will get it on one of these days.