The payments that the Social Security Administration sends to United States retirees are divided into 4 different days. On each of these days, a different group of retirees can collect their retirement benefit. If you have an accepted benefit, the Social Security Administration sends it on one of these four days of the month.
Whether you receive your check on one day or the other depends on several factors. The first of these factors is determined by the year of retirement. Thus, pre-1997 retirees receive their check on a different day, while post-1997 retirees have up to 3 days to receive their check. In other words, there are two large groups of retirees, pre-1997 and post-1997.
Within this second group there are, in turn, three different groups. The Social Security Administration sends checks to these groups of retirees on the second, third and fourth Wednesday of the month. This is not usually a problem, but this particular month may result in payments arriving too late due to a scheduling irregularity.
When will Social Security send the payment?
The next of the checks that Social Security will send to retirees will be on the 28th day of June. This payment will mean that it is the last Wednesday of the month. Therefore, receiving a check may be too late. This is because this last Wednesday of the month is very close to the beginning of the next month and a weekend.
This payment is not for all retirees. Only post-1997 retired beneficiaries with birthdays between the 21st and 31st receive this money. Also, it does not matter the month of birth, only the day of the birthday. Retirees born in June can collect the June payment, the July payment and any other payment.
Why is the next check late?
The check for this Social Security benefit may arrive late depending on the collection method chosen. With Direct Deposit there is no problem to receive the payment, but it is different if we choose the classic deposit to the bank account. As this method can take up to 3 days, the money may not arrive until July.
If we take a look at the calendar we can see that the last Wednesday of the month is the 28th. This is the fourth Wednesday of the month, the day on which this group of retirees usually gets paid. But it is true that it is not always the last Wednesday, or at least it is not that close to the month ending in that week.
Since the month ends just two days later, the Social Security payment could arrive in July. If we don’t have Direct Deposit activated, it can take up to 3 days for the money to show up. But sometimes it can be delayed. So if you receive the money by classic deposit into your bank account, keep this in mind when planning your finances for the month.