By Arlenys Tabare
01 Jul 2024, 11:29 AM EDT
Payments to retirees and Social Security beneficiaries begin to be distributed starting this Monday, July 1, and the first to receive them will be those insured with Supplemental Security Income (SSI).
The amounts of this program assigned to the Social Security Administration for the purpose of supplementing the income of retirees, low-income seniors, people or children with disabilities They are between $943 dollars or $1,415 dollars.
According to the payment schedule, the other beneficiaries who will receive their SSA checks before Thursday, July 4, Independence Day holiday, They are those who retired before May 1997 and those insured by Social Security Disability Insurance (SSDI).
Retirees receive monthly amounts between $2,710 to $4,873 dollars depending on retirement age, while SSDI beneficiaries who meet all the requirements can get between $1,537 to $3,822 dollars depending on their condition.
Not all seniors close to retirement age receive the highest amount. To obtain it, you must meet some SSA requirements such as: have applied at age 70, have worked for 35 years in jobs covered by Social Security and have earned the maximum taxable amount during all those working years.
Throughout the month of July, payments will also be distributed to retirees after May 1997. They will receive their money depending on the day of birth. The planning was as follows:
- Wednesday, July 10: payments to retirees after May 1997, born between the 1st and 10th of any month.
- Wednesday, July 17: payments to retirees after May 1997, born between the 11th and 20th of any month.
- Wednesday, July 24: payments to retirees after May 1997, born between the 21st and 31st of any month.
Keep reading:
- Which states will send stimulus checks of up to $500 in July 2024?
- Social Security: which beneficiaries will receive their payments of $943 and $1,415 this July 1?
- How much is the Social Security payment that a lower-class retiree receives in the US?