Social Security payments delayed for some retirees

The Social Security Administration has announced that a group of retirees and disabled individuals will not receive their payments this week. Those who qualify for the retirement, survivor, and disability insurance program, claimed benefits after May 1997, and were born between the 21st and the 31st will have to wait until the end of September to receive their monthly checks. According to the SSA’s annual document on payments, the scheduling is as follows: Supplemental Security Income payments are made on the first day of the month unless it falls on a weekend or holiday. Recipients of RSDI benefits who claimed before May 1997 receive payments on the third day of the month. For those who claimed after May 1997, the schedule is based on their birth date. Those born between the 1st and the 10th receive payments on the 2nd Wednesday (September 11th). Those born between the 11th and the 20th get paid on the 3rd Wednesday (September 18th). And those born between the 21st and the 31st receive their checks on the 4th Wednesday (September 25th). To apply for retirement benefits, you must be at least 62 years old, have paid Social Security taxes for at least 10 years, and meet full retirement age requirements. The SSA tracks your contributions based on your total earnings and self-employment income for the year. If you haven’t worked or contributed for ten years or more, the SSA will analyze your eligibility based on your current or former spouse’s work record. Information about past and present marriages is requested during the application process. To apply for disability benefits, individuals must have earned Social Security credits by paying payroll taxes before becoming disabled, in accordance with SSA guidelines. They must also prove they are blind or have a physical condition preventing them from substantial gainful activity for at least one year. Once accepted into the retirement or disability benefits program, the SSA calculates monthly payment amounts based on each beneficiary’s unique circumstances. Beneficiaries should refer to the SSA for the specific amounts they are eligible to receive as of January 2024. The Social Security Administration has specific criteria for who will receive their retirement checks on September 18th.

Payment schedule for affected retirees

Thousands of beneficiaries will get paid on that date if they applied for benefits after May 1997 and their birthday falls between the 11th and 20th of any month. If beneficiaries do not meet these criteria, they will receive their payment on a different date in September: – September 3rd: Payment for retirees who started receiving benefits before May 1997. – September 11th: Payment for retirees who started after May 1997, with birthdays between the 1st and 10th. – September 18th: Payment for retirees who started after May 1997, with birthdays between the 11th and 20th. – September 25th: Payment for retirees who started after May 1997, with birthdays between the 21st and 31st. Citizens are advised to review their payment schedule and ensure they align with the specified criteria to receive their benefits accordingly. If you were born on certain dates, you will soon receive a new Social Security payment, so it’s important to check your bank account. The SSA issues payments almost every week, making it vital to know when to expect yours to avoid any financial surprises. Planning the annual payment schedule is straightforward once you understand the general rules. Beneficiaries are segmented into two primary groups based on when they began receiving benefits. Those who started before May 1997 get paid on the 3rd of each month. For those who started after May 1997, Supplemental Security Income recipients are paid on the 1st of each month. Old Age, Survivors, and Disability Insurance beneficiaries are paid based on their birth date – the 2nd Wednesday for those born 1st-10th, 3rd Wednesday for 11th-20th, and 4th Wednesday for 21st-30th. In 2024, OASDI beneficiaries born between the 11th and 20th will receive their payment on Wednesday, September 18th. The exact payment amounts depend on the individual’s work history and Social Security taxes paid. Stay updated on your Social Security payment schedule to ensure financial stability. When you know when to expect your disbursements, managing your expenses becomes much easier.