On Wednesday, beneficiaries of Social Security retirement benefits will start receiving payments totaling up to $4,194.
The receivers of this payment, which is expected to be made on Wednesday, must have been born between the 11th and the 20th of the month. Based on the Social Security Administration’s calendar, retirees get their retirement benefits in three-wave increments, starting on the second Wednesday of each month.
The sum of these checks will depend on several variables, such as the recipient’s choice of when to retire and begin receiving Social Security benefits. For the highest award of $4,194, a person had to have retired at age 70. Based on the SSA, beneficiaries who retired at 67 will get a maximum check of $3,345 and those who retired at 62 will receive a maximum check of $2,364.
These recipients, who were born between the first and tenth of the month, started receiving payments on January 11. On January 25, there will be one final round of payments for the month. It will be given to people whose birthdays occur between January 21 and January 31.
Regular Social Security benefits are dependent on earnings made throughout a recipient’s lifetime and are not restricted to resource or income restrictions. The Supplemental Security Income program, which started sending payments on December 30, 2022, and is due to make its next payment on February 1 of the following year, is different from other payments provided by the SSA, like disability insurance or retirement benefits.
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