Due to a scheduling error, recipients of Social Security Income (SSI) are one day away from receiving the first of two payments, which will be sent in December, worth $1,755.
The first payment will be given to qualified recipients by 1 December and the second payment will be sent on 30 December.
To ensure that beneficiaries receive their monthly SSI checks by the beginning of the month, the Social Security Administration reports, it issues the checks the business day before months that start on weekends or holidays.
Due to this scheduling irregularity, recipients may receive two checks in the same month of the year, although they still only receive 12 checks overall.
1 January 2023 comes on a Sunday, and the January 2023 SSI payment will be delivered on Friday, 30 December 2022. Because January first is a federal holiday, the January payment is always sent early.
March, June, September, and December are the four months with two payments each in 2023. This is due to the fact; in April, July, and October, the first of the month falls on a weekend.
The Social Security Administration will set the rates for the second payment in December, which is the January check, at rates from 2023. The first payment in December will be based on rates from 2022. To ensure; Social Security payments stay up with inflation, the increases are a part of the yearly cost-of-living adjustments (COLA).
Individuals will pay $841 in 2022 and $914 in 2023 per month at the current rate. For qualified couples, the 2022 monthly payment rate is $1,261, and the 2023 monthly payment rate is $1,371.
The monthly payment amount for needy people, or those who reside with someone receiving SSI and provide them with necessary care, is $421 for 2022 and will increase to $458 in 2023.
Based on Social Security Administration, the first SSI payments were made in January 1974, and since 1975, when there have been cost-of-living adjustments payment rates have increased in line with inflation.