Social Security update: Direct payment worth $914 to arrive in one week

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Social Security update: Direct payment worth $914 to arrive in one week

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The final distribution of March’s Supplemental Security Income payments, worth $914 for individual filers, will be sent to beneficiaries in one week, according to the Social Security Administration.

The final payment will be delivered on March 31. It will take the place of April’s monthly payment because April 1 falls on a Saturday. The first disbursement, which constitutes March’s regular payment, was sent to all eligible recipients on March 1. Individual recipients should receive a total of $1,828 from the two payments this month.

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The Social Security Administration typically issues one monthly SSI check, and it’s disbursed on the first day of every month. However, the administration releases the checks on the last business day of the previous month when the first falls on a holiday or weekend to ensure recipients have the check by the 1st, according to the agency.

Recipients receive two checks in the same calendar month multiple times a year, but they still receive a total of 12 payments per year.

There are three other months in which people will see two payments this year: June, September, and December. This is because the first of the month falls on a weekend in July and October. December sees two checks every year because Jan. 1 is a national holiday. This means there will be no checks in July, October, and January.

Other groups that qualify for the double SSI payments include eligible couples. They will receive two payments of $1,371, and essential people, who live with a person receiving SSI and provide them with necessary care, will get two checks of $458 each.

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SSI payments were first issued by the Social Security Administration in January 1974, but the amount recipients receive has increased for cost-of-living adjustments each year since 1975, the agency said.

The supplemental payments are separate from the retirement pay that retirees receive each month.

© 2023 Washington Examiner

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