Some retirees are set to receive Social Security payments of up to $4,873 on September 11, with two additional rounds of payments scheduled for later in September.
The payment amount depends on factors such as your work history, filing age, and how long you contributed to Social Security. Here’s a breakdown of what to expect and who qualifies for these payments.
Eligibility for the September 11 Payment
To qualify for the September 11, 2024 payment, you must meet two key criteria:
- You’ve been receiving Social Security retirement benefits since after April 30, 1997.
- Your birthday falls between the 1st and 10th of any month.
If you meet these conditions, you will receive your payment today. For those who don’t qualify for the September 11 payment but are eligible for retirement benefits, there are two additional payment dates in September:
- September 18: For recipients born between the 11th and 20th.
- September 25: For recipients born after the 20th of the month.
Maximum Payment of $4,873
To receive the maximum Social Security benefit of $4,873, you need to meet several requirements:
- File for benefits at age 70 (filing earlier reduces your monthly amount).
- Work for at least 35 years in jobs covered by Social Security.
- Earn the taxable maximum (the highest income subject to Social Security taxes) for 35 years.
- Ensure you’ve paid enough Social Security taxes and did not break any rules from the Social Security Administration (SSA).
If you filed earlier than age 70, your payment is reduced. For example:
- At age 62, the maximum payment is $2,710, representing a 30% reduction from the full benefit.
- At Full Retirement Age (around 66-67), the maximum is $3,822.
Average Payment Amounts
While some retirees qualify for the maximum payment, most receive an average payment of $1,919. Your actual payment depends on your earnings history and when you started filing for benefits.
Future Payment Dates
If you meet the eligibility criteria but haven’t yet received your payment, here are the upcoming dates:
- September 18: For retirees born between the 11th and 20th.
- September 25: For retirees born after the 20th.
- October 3: For those who have been receiving benefits before May 1997 or receive both retirement and SSI benefits.
Important Considerations
Filing for Social Security before age 70 reduces your monthly benefit, but some recipients may choose to file earlier depending on their financial needs.
It’s important to consider how much you’ve earned and contributed to Social Security over your working years to understand how it will impact your monthly payments.
Social Security payments of up to $4,873 are being distributed on September 11, with additional payments scheduled for later in the month.
Whether you qualify for the maximum or average benefit depends on your work history and when you choose to file. Check your eligibility based on your birthdate and filing history to ensure you’re receiving the correct payment.
FAQs
What determines my Social Security payment date?
Your payment date is based on your birthday: September 11 for birthdays from the 1st to the 10th, September 18 for birthdays from the 11th to the 20th, and September 25 for birthdays after the 20th.
How do I qualify for the $4,873 maximum Social Security payment?
To qualify, you must have worked for 35 years, earned the taxable maximum each year, and filed at age 70.
What is the average Social Security payment for retirees?
As of August 2024, the average Social Security payment is $1,919.
What happens if I filed for Social Security before age 70?
Filing before age 70 reduces your payment. For example, filing at 62 typically results in a 30% reduction.
When is the next Social Security payment if I missed the September 11 date?
The next payment dates are September 18 and September 25, depending on your birthdate. If you receive SSI or have been receiving benefits since before May 1997, your next payment is on October 3.