Social Security update: Direct monthly $1,681 payments arriving in just one week for millions
Jack Birle
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Millions of Social Security recipients are set to receive their next monthly retirement checks, worth an average of $1,681 per payment, in just seven days.
Social Security beneficiaries who were born from the 1st through the 10th of their birth month are set to receive their regular checks on Dec. 14, while those who have birth dates from the 11th through 31st of any month will receive their checks later in the month.
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These Social Security payments are based on earnings throughout a person’s lifetime and have no limits based on income or resources. The average payment for retirees is approximately $1,631, as of October, per the SSA.
The monthly retirement checks are paid to those who are eligible in three waves, all occurring on Wednesdays. The waves of payments are divided by the birthdays of the recipients.
The second wave of checks is always sent out on the third Wednesday of each month to those born on the 11th through 20th of their birth months, with this month’s payment set to be sent to that group on Dec. 21. The third wave of payments will be sent out on the fourth Wednesday of this month, Dec. 28, for those born on the 21st through 31st of their birth months, per the Social Security Administration.
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Regular Social Security checks differ from other payments distributed by the agency, such as disability insurance or Supplemental Security Income. SSI payments are set to be paid out to eligible recipients on Dec. 30.
Analysts predict that Social Security insolvency may occur as early as 2034 unless action is taken by Congress to prevent it.