March is here, and a few Social Security benefits have been disbursed a bit ahead of schedule. Beneficiaries of Social Security who began receiving benefits before May 1997, as well as those who get both Social Security as well as Supplemental Security Income (SSI), ought to have gotten their checks by now. We’ll go into more detail about this peculiarity in the 2024 schedule of payments below. Recent findings from the SSA show that the average monthly payout for all beneficiaries, after accounting for this year’s 3.2% cost-of-living adjustment (abbreviated COLA), is approximately $1,770. These days, the average per-month retirement benefit is $1,909.
Beneficiaries who were eligible for both SSI and Social Security as well as those who started receiving benefits before May 1997 should have received their payments on Friday. For these beneficiaries, Social Security is typically paid on the third of the month and SSI on the first. However, this year’s third arrived on a Sunday, thus all of the payments were made on March 1 by the SSA. Your birthday determines the date of your payment if you are solely receiving Social Security payments and were not receiving benefits before May 1997. On March 13, beneficiaries who were born between the first and tenth of a particular month will receive their benefits. Beneficiaries having birthdays on March 11–20 will receive their paychecks on March 20, while beneficiaries with birthdays on March 21–31 will receive their benefits on March 27.
Where’s This Month’s Social Security Check?
You can contact the Social Security Administration (SSA) if you believe your cheque was not received on time. However, it is advised that you hold off on calling the agency to find out about your payment for three business days. Any weekday from 8 a.m. to 7 p.m., you can reach them by calling 1-800-772-1213. By opening or entering into your online account provided for Social Security and going to “Benefits & Payments,” you can also see the status of your payments.
Payment Schedule For SSA In 2024
Depending on the beneficiary’s birthdate, payments for those who receive just Social Security are normally made on the second, third, or fourth Wednesday of any given month. Generally, SSI recipients receive their benefits on the first, provided it falls on a federal holiday or weekend. In this instance, SSI beneficiaries’ payments are prorated to the prior business day; hence, they may get two payments in a given month and none in the following. This year’s May, August, and November will all see this odd scheduling development.
Social Security and SSI beneficiaries (as well as those who made their initial claim before May 1997) typically receive their payments on the first and third of each month, respectively, unless a holiday or weekend comes on the first; in that case, the payments are also postponed to the preceding working day. Your average monthly indexed earnings over the 35 years you made the most money determine your Social Security benefit. After that, the SSA uses a formula to determine your primary insurance amount or PIA. By registering or logging in to your online account through the SSA’s website, you may view your earnings record and calculate your benefit. To assist you in navigating your benefits, the SSA provides a digital payments calculator in addition to other online resources.
