The Social Security Administration (SSA) is more than ready to issue a new round of Social Security payments, and we know you are, too!
With its well-defined schedule, the SSA distributes benefits to millions of citizens in the United States monthly. If you’re wondering who will receive an average payment of $1,900 this Wednesday, December 18, here’s a detailed explanation.
How Social Security payments are organized
The SSA organizes its payments based on the beneficiaries’ date of birth:
- Those born between the 1st and 10th of the month receive their payment on the second Wednesday of each month.
- Those born between the 11th and 20th, on the third Wednesday.
- Finally, those born between the 21st and 31st of the month will receive it on the last Wednesday of the month.
On the other hand, beneficiaries retired before May 1997 and those who receive Supplemental Security Income (SSI) follow a different schedule, receiving their payments during the first days of the month.
Beneficiaries who will receive $1,900 on December 18
So yes, if you were lucky enough to be born between the 11th and 20th of any month, this day 18 your pocket will feel the sound of the dollar because it will be your day to receive your SSA for individual retirees, and you will receive nothing more and nothing less than $1900!! (Although this, of course, will depend on your retirement age and the years you have contributed).
December 2024 payment schedule
With the end of the year approaching, the SSA has also scheduled other payments so that no one suffers delays:
- Tuesday, December 24: Advance payments for beneficiaries born between the 21st and 31st of the month, since December 25 is a holiday.
- Tuesday, December 31: January 2025 payment for SSI recipients, with an increase reflected due to the Cost of Living Adjustment (COLA).
How is the payment amount calculated?
The monthly amount will depend on several factors:
- Years that the individual has worked and the contribution.
- Average annual earnings during the working life.
- Retirement age. Payments are higher if retirement is delayed until age 70.
For example, in 2024, the average monthly payment is as follows:
- $1,907 for retired individuals.
- Up to $3,303 for couples filing jointly.
- $943 on average for individual SSI beneficiaries and $1,415 for couples.
COLA Increase in 2025
Starting in January 2025, Social Security payments will experience a 2.5% increase due to the Cost of Living Adjustment (COLA). This increase is intended to offset inflation, ensuring that beneficiaries do not lose purchasing power.
In this way, the State ensures that its beneficiaries can continue to acquire their basic necessities (such as food or health care) without being burdened by inflation.
Advanced payment schedule
This is a quick reminder for Supplemental Security Income (SSI) recipients, who will receive their first payment of 2025 on December 31, as January 1 is a holiday. And yes, this payment will already come with the 2.5% COLA increase!!
So, pay attention to your bank account, because your payment will arrive today, and if not, the SSA asks to wait a minimum of 3 days to request a review. So, we will have to be patient.