The U.S. government has made a significant announcement regarding Social Security payments, ensuring millions of Americans, including those on SSDI (Social Security Disability Insurance) and retirement benefits, will soon receive their funds. Specifically, a notable payment of approximately $1,907 is set to be disbursed on March 13, marking a crucial update for beneficiaries looking forward to their next payout.
It’s important to note that individuals who received their benefits as early as March 1 are not eligible for this upcoming payment cycle. Eligibility for this round of Social Security payments requires having filed for benefits after or in May 1997. Additionally, the date of your birth significantly influences the timing of your payment; the earlier your birth date falls within the month, the sooner you will receive your check.
Who will receive $1,907 and when?
The average retirement check is expected to be around $1,907, a figure that has been adjusted to reflect the 2024 COLA (Cost-of-Living Adjustment) increase. This adjustment translates to an additional $59 per month for beneficiaries, offering a slight financial boost amidst the economic fluctuations.
The Social Security Administration is poised to distribute these payments to eligible disability and retirement benefit recipients who did not commence their benefits before May 1997. For retirement beneficiaries born between the 1st and 10th of the month, the March 13 payout date is particularly pertinent, with retirement checks potentially reaching up to $4,873.
Eligibility for Social Security in the U.S.
Eligibility for Social Security benefits in the U.S. encompasses a broad spectrum of individuals, including:
- Those who have contributed to the Social Security system through payroll taxes over a certain number of years, earning them “credits” towards retirement benefits.
- Individuals with disabilities who meet specific criteria and have accumulated sufficient work credits, or are dependents of someone who has.
- Family members of qualifying beneficiaries, such as spouses, divorced spouses, children, and parents, under certain conditions.
- Survivors of a deceased worker who have sufficient work credits.
For anyone seeking detailed and specific information regarding eligibility criteria and application processes for Social Security, visiting the U.S. Social Security Administration’s official website at https://www.ssa.gov/ is highly recommended.