Social Security update: Direct payment worth $914 arriving in 10 days
Asher Notheis
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Supplemental Security Income beneficiaries will receive their payment for the month of May, worth $914 for individual filers, in only 10 days.
The monthly payments will be sent out to recipients on May 1, and they will arrive in different amounts for individual filers, joint filers, and essential persons.
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While individual filers will receive $914, eligible couples will receive $1,371, and essential persons, who live with someone receiving SSI payments and provide them with necessary care, will get a monthly payment of $458, according to the Social Security Administration.
The payments are delivered to beneficiaries on the first day of each month, but when the first of a month falls on a weekend or a holiday, the SSA issues its monthly SSI checks on the last business day prior to the month. That way, recipients receive the check by the first of the month, according to the agency.
With the adjusted schedule, recipients get two checks in the same calendar month multiple times a year. However, beneficiaries still receive a total of 12 checks per year.
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There are four months in which two payments will be delivered under the same month this year: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October, and the first of January is always a holiday.
SSI payments were first issued by the SSA in January 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency.