The US government supports retirees, veterans, survivors, and disabled citizens through various Social Security monthly payouts. The Social Security recipients must be expecting their August payment as it was not made this week, the article covers everything you wish to know about the August SS payments.
Social Security Payments
The federal government provides financial support to more than 70 million people and US families eligible for Social Security benefits. The Social Security Administration has managed and processed Social Security payments since 1935 to the bank accounts of the disabled, retirees, veterans, survivors, and recipients of Supplemental Security income.
The social security payment is a monthly payment processed to the accounts of the receipts based on their birth date and weekend & public holidays. The SSA has made an annual payment schedule for the year and according to the schedule, the Social Security payment will proceed in the third week of August 2024.
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According to the SSA guidelines, Social Security payments start on the second week of the month when the month begins on Monday, Tuesday, or Wednesday, whereas when the month starts on Thursday, Friday, or Saturday, the SSA proceeds the payments in the third week of the month.
Hence, the Social Security recipients for August (began on Thursday) will receive their regular payments on the following dates:
- 14 August 2024: Recipients with a birth date between the 1st to 10th.
- 20 August 2024: Recipients with a birth date between 11th to 20th.
- 27 August 2024: Recipients with a birth date between the 21st to 31st.
- The SSI recipients must have received the payment on the first day of the month and the people who received the Social Security payments before May 1997 or received both SSI and Social Security must be made on 02 August 2024.
Social Security Double Payment in August
The Supplemental Security recipients will receive double payment in August 2024, but remember it is not a bonus payment, it’s your September SSI payment. According to the SSA payment schedule and rules, when the payment date falls on a weekend or public holiday, the SSA will proceed with the payment on the working day before the payout date.
So, as the September SSI payment date falls on Sunday, the SSI recipients can expect their payment on 30 August 2024, Friday. This year, the Social Security SSI recipients received double payments in May due to the same scenario. The recipients can also expect the double payment in November 2024 as December 2024 first day falls on Sunday.
Who receives the Social Security Benefits?
The Social Security funds come from the payroll taxes that American citizens pay during their employment days. So, as American citizens work and pay taxes to the agency, they earn Social Security credits, which make them eligible to receive Social Security benefits from the age of 62 years.
In 2024, American citizens earn one credit for each $1730 in their earnings, meaning up to 4 credits in a year. American citizens need 40 credits and 10 years of work to receive Social Security benefits, whereas younger people with disability need fewer credits to receive the disability Social Security benefits and to receive the survivor benefit.
Hence, the eligibility for Social Security benefits is as follows:
- Your age is 62 years or older
- You have worked for 10 years or more and paid the Social Security/ payroll taxes.
For children:
- The child’s age is under 18
- Children aged 18 or 19 and attend a full-time elementary or high school
- Children with physical or mental disability of any age
How much you can receive via Social Security benefits?
The social security payout amount for retirees depends on the following factors:
- Full retirement age
- Social Security Contributions
- Working history
The US retirees on average receive $1900 a month and those who have claimed social security benefits before the full retirement age at 62 years of age can receive a Social Security payout of up to $2710.
The Retirees who have claimed the Social Security benefits after the Full retirement age can get payments up to $3822 and people who have delayed their Social Security claims until 70 and paid the taxes can get the maximum payout of $4873.
The other benefit recipients like disability and SSI benefits have several other factors that affect the payout amount of the recipients. On average, disability, SSI, and survivor benefits recipients will receive monthly payments up to $15,37, $698, and $1505, respectively.
What should you do if your Social Security payments go missing?
The Social Security recipients who haven’t received their payment on the scheduled payment date can contact SSA. However, they must follow the below instructions before contacting SSA for missing payment:
- Recipients must check their bank details or contact the bank if there is any problem with their bank account.
- Recipients should check if their bank account is valid or not.
- The paper check recipients should wait for the three additional mailing days as it depends on your local mailing facility.
The Social Security recipients can contact the Social Security Administration after they ensure the above factors are not the reason for payment delay. You can contact the SSA at the following helpline numbers:
- Call at 1 800 772 1213 between 8 AM – 7 PM (local time), Monday to Friday
- Deaf or people suffering from hearing issues can use TTY equipment by calling the TTY number at 1 800 325 0778.
- You can also visit the nearby SSA office to ask about your Social Security payments or write a letter to the authority.
The Social Security recipients will receive their August payments from the third week of August as the month begins on Thursday, the recipients can mark the respective payment dates according to their birth date to manage their expenses.