The payments sent by the Social Security Administration to all households in the United States depend on several criteria. The Administration does not pay all benefits at the same time. To avoid bank overcrowding and delays in payments, Social Security reaches different groups of retirees in a staggered manner.
For this reason, some retirees are paid at the beginning of the month and others are paid on the fourth Wednesday. Also, the next of the payments will not be for all retirees, as is obvious from checking the payment schedule. The retirees in the second group are the retirees who will collect the next Social Security check.
In total, the Social Security Administration divides retirees into four distinct groups. Each of these groups is made up of retirees of all ages, classes and conditions. You don’t have to have a specific type of benefit to know which group you belong to. Having an accepted Social Security benefit and meeting two other requirements is sufficient.
Who will not receive Social Security on July 19?
Beneficiaries who fall into the following groups will not receive the next Social Security benefit on July 19, 2023:
- Pre-1997 retirees. Any beneficiary who has had their benefit since before 1997 will not receive a check on the next July 19th.
- Post-1997 retirees with birthdays on the following days:
- 1st to 10th of the month.
- 21st to 31st of the month.
In this last group we can see that the date of birth is important. But neither the month of birth nor the year of birth is important. What is important in this case is only the specific day. Therefore, knowing this information, we can specify that the next Social Security payments are for retirees born between the 11th and 20th day of the month who have a benefit prior to 1997.
What is the maximum amount of the retirement check in 2023?
The maximum Social Security age retirement benefit for 2023 is $4,555 per month. This check has reached such a high figure because of the 2023 COLA, as it increased all benefits by 8.7%.
However, not all beneficiaries applying for retirement can reach that monthly amount. In order to get such a large Social Security check, three requirements must be met:
- Apply for retirement at age 70.
- Have a good salary during your working years.
- Work at least 35 years before retirement.
If we maximize those concepts we will get a very big check. If we don’t, the Social Security check will depend on both our work history and the year we decide to apply for retirement. The closer we get to age 70, the bigger the check will be every month.