As September begins, millions of retirees across the United States are set to receive exciting news. The Social Security Administration (SSA) will be distributing payments, with the average retiree set to receive $1,919 this month. For many retirees, this monthly payment is crucial, as it serves as their primary or only source of income. Depending on when you became eligible for Social Security, you could receive your payment as soon as the first week of September. Here’s everything you need to know about the upcoming payments.
Recipients
Two major categories of retirees received their Social Security payments as early as September 3, 2024. The first group includes retirees currently drawing from both Social Security retirement benefits and Supplemental Security Income (SSI). If you belong to this category, you can expect your payment on the 3rd of every month.
The second group consists of those who started claiming Social Security benefits before May 1997. If you’ve been receiving benefits for over 27 years, you’re in this group and should have also received your payment on September 3. The SSA has prioritized long-term beneficiaries, especially those who receive both retirement and supplemental benefits, to ensure timely disbursement.
Payment
The average Social Security payment in September 2024 is $1,919, but this is just a median figure. Your actual payment might be higher or lower depending on factors such as your retirement age, employment history, and how many Social Security credits you earned throughout your working life.
Some retirees may receive much more than the average payment. For instance, delaying your Social Security benefits until the age of 70 can lead to a significant increase in your monthly checks. Those who wait until 70 can receive up to $4,873 monthly.
Additionally, if you worked for at least 35 years, your benefits will be calculated based on your highest-earning years. If you have fewer than 35 years of work history, zero-income years will lower your average, reducing your benefit amount.
Another important factor is your income. High earners, especially those making more than $110,000 annually, will benefit the most from recent Social Security adjustments.
Payment Schedule
Missed the September 3rd payment? Don’t worry—there are other payment dates scheduled throughout the month based on retirees’ birthdays. Here’s the breakdown for September:
- September 11: Retirees born between the 1st and 10th of any month
- September 18: Retirees born between the 11th and 20th
- September 25: Retirees born between the 21st and 31st
These dates also apply to Social Security Disability Insurance (SSDI) beneficiaries. However, SSDI beneficiaries tend to receive slightly lower payments than retirees, averaging about $1,538 as of July 2024. Nevertheless, the SSA’s monthly schedule ensures that every recipient receives their money by the end of the month.
SSI
If you’re a low-income retiree, you may be eligible for additional support through the Supplemental Security Income (SSI) program. SSI provides extra funds to individuals who earned lower wages during their working years or those who couldn’t retire early and apply for Social Security benefits. For individuals, the SSI payment can be as high as $973, while married couples can receive up to $1,415.
The SSI program aims to help low-income retirees afford basic necessities like food, housing, and medical expenses. It’s crucial to check your eligibility if you think you might qualify for additional support. A review of your eligibility could help you secure the supplemental funds you need to cover essential expenses.
Delayed Payments
While the SSA works hard to ensure that payments are made on time, delays can happen, usually due to issues with bank transfers or mail services. If you were expecting a payment on September 3 but haven’t seen it in your bank account or mailbox, the SSA recommends waiting at least three business days before reporting the issue. Often, the delay is due to your bank’s processing times.
If your payment is still missing after three days, contact the SSA for help in resolving the issue. It’s important to stay calm and follow the proper procedures to avoid unnecessary stress.
FAQs
When will I get my September Social Security payment?
Payments are scheduled for September 3, 11, 18, or 25, depending on your birthday.
Why is my Social Security payment less than $1,919?
Your payment depends on factors like your retirement age, work history, and earnings.
Can I increase my Social Security payments?
Yes, delaying your claim until age 70 and working for at least 35 years can boost your payments.
What should I do if my payment is delayed?
Wait three business days, then contact your bank or the SSA if you still haven’t received it.
Can I qualify for SSI benefits if my Social Security payment is low?
Yes, SSI offers extra support to low-income retirees. Check your eligibility.
