Social Security update: Direct payment worth $914 arrives in 24 days
Jack Birle
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Supplemental Security Income beneficiaries are 24 days from their monthly payments worth $914 for individual filers.
The payments will be sent out to eligible recipients on June 1, with different amounts distributed to individual filers, joint filers, and essential persons.
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For individuals, the rate for payments is $914 per month. The rate for eligible couples for monthly payments is $1,371. Essential persons, people who live with someone receiving SSI and provide them with necessary care, have a monthly payment rate of $458.
The payments are delivered to beneficiaries on the first day of the month. When the first of a month falls on a weekend or a holiday, the Social Security Administration issues monthly SSI checks the business day prior to ensure recipients have the check by the first of the month, per the agency.
This results in recipients receiving two checks in the same calendar month multiple times a year. However, beneficiaries still receive a total of 12 checks per year. This year, there are four months in which two payments will be delivered under the same month: March, June, September, and December. This is because the first of the month falls on a weekend or holiday in April, July, October, and January 2024.
The July payment will be issued to beneficiaries on June 30, due to July 1 falling on a Saturday.
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SSI payments were first issued by the SSA in January 1974, with payment rates increasing for cost-of-living adjustments since 1975, according to the agency.