Social Security update: Direct payment worth $914 arriving in 20 days

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FILE – The likeness of Benjamin Franklin is seen on U.S. $100 bills, Thursday, July 14, 2022, in Marple Township, Pennsylvania. (AP Photo/Matt Slocum) Matt Slocum/AP

Social Security update: Direct payment worth $914 arriving in 20 days

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Supplemental Security Income beneficiaries are 20 days away from their monthly payments worth $914 for individual filers.

The payments will be sent out to eligible recipients on May 1, and different amounts will be distributed to individual filers, joint filers, and essential persons.

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The rate for eligible couples 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. Individual filers receive the $914 monthly checks.

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 on the business day prior to that so recipients can have the check by the first of the month, per the agency.

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This means recipients get two checks in the same calendar month multiple times a year. However, beneficiaries continue to 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 — because the first of the month falls on a weekend or is a holiday in April, July, October, and January 2024.

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.

© 2023 Washington Examiner

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