This week brings positive news for retirees born between the 11th and 20th of any month. According to the Social Security payment schedule, these individuals will receive their Social Security check on Wednesday, August 21st.
The Social Security Administration (SSA) distributes payments in four rounds each month, ensuring that retirees have the funds they need to cover essential expenses.
To qualify for this payment, beneficiaries must have claimed their first Social Security check after May 1997, met full retirement conditions, and contributed to Social Security for at least 10 years.
The SSA estimates that around 67 million Americans were receiving Social Security benefits as of September 2023, including 52 million retired workers. By 2024, more than 180 million people are expected to be covered by Social Security.
Expected Payment Amounts for Retirees
Retirees typically receive an average of $1,900 per month, but this can vary based on factors such as work history and the age at which they began claiming benefits.
For example, individuals who claimed benefits at age 62 or earlier may receive around $2,710, while those who waited until full retirement age or later could receive up to $3,822 per month.
Additionally, retirees who have consistently contributed based on maximum taxable earnings for 35 years may qualify for a maximum check of $4,873.
The checks issued this week already include the 3.2% cost-of-living adjustment (COLA) for 2024. However, estimates suggest that the COLA for 2025 may be around 2.65%, which could be slightly lower than the 2024 adjustment. Beneficiaries are advised to explore other income sources to cover rising living costs.
Payment Schedule for the Remainder of August
Retirees born between the 21st and 31st will receive their Social Security checks on Wednesday, August 28th.
Those who do not receive their payment on the expected date should wait three mailing days before contacting SSA customer service.
Payment Schedule
| Date | Recipients |
|---|---|
| Wednesday, August 21 | Retirees born between the 11th and 20th |
| Wednesday, August 28 | Retirees born between the 21st and 31st |
Conclusion
Retirees born between the 11th and 20th can expect their Social Security check on August 21st, while those born between the 21st and 31st will receive their payment on August 28th. The payment amounts vary depending on several factors, including work history and the age at which benefits were claimed.
Q1. Who will receive the Social Security check on August 21st?
A. Retirees born between the 11th and 20th of any month who claimed their first Social Security check after May 1997.
Q2. What factors determine the amount of Social Security benefits?
A. The amount is based on work history, the age at which benefits were claimed, and the average Social Security taxes paid during the beneficiary’s career.
Q3. What is the average monthly Social Security benefit?
A. The average monthly benefit is approximately $1,900.
Q4. When will retirees born between the 21st and 31st receive their checks?
A. They will receive their Social Security checks on Wednesday, August 28th.
Q5. Does the August payment include the 2024 COLA adjustment?
A. Yes, the August payment includes the 3.2% COLA adjustment for 2024.
