In August 2024, Social Security Disability Insurance (SSDI), as well as those receiving retirement payments will be made in stages, as they happen every month. As is the norm, the Social Security Administration makes at least five rounds of payments each month.
The payment schedule begins each month on the 1st with the sending of bank transfers to Supplemental Security Income (SSI) beneficiaries. Then, there are three payments to retirement and SSDI beneficiaries for millions of awaiting beneficiaries, which are made on the second, third, and fourth Wednesday of each month.
In the middle between the SSI payment and the second Wednesday, payments are sent for Social Security beneficiaries who began receiving payments before May 1997, or who receive both Social Security and SSI benefits. In the latter case, the SSI money will arrive on the 1st of each month, and the Social Security money will arrive on the 3rd.
Retirement and SSDI Dates in August 2024
As we just mentioned, payments for these two types of benefits will be delivered to their recipients on the following dates.
- Wednesday, August 14: For people whose birthday falls between the 1st and 10th of any month.
- Wednesday, August 21: For people whose birthday falls between the 11th and 20th of any month.
- Wednesday, August 28: For people whose birthday falls between the 21st and 31st of any month.
SSI payments in August and September
In August 2024, there are two payments of Supplemental Security Income (SSI). The first is done on August 1 and the second the August 30. This occurs because the regular SSI payment for September 1 is brought forward to August 30, since September 1 falls on a Sunday.
According to payment rules, if the 1st of a month falls on a weekend or holiday, payment is made the previous business day, which in this case is August 30. For this reason, there will be no SSI payment in September 2024.
Some Beneficiaries Receive Up to $4,873 per Month From Social Security
Not all Social Security beneficiaries receive the maximum that the SSA provides each year. Until September 30, 2024, the monthly maximum that a qualifying individual can receive is $4,873, but it is reserved for people who delayed retirement age until age 70, and had high salaries with their subsequent Social Security taxes. , contributed for at least 35 years.
On the other hand, the average benefit is $3,822 per month for those who retired at their full retirement age (FRA), which is 66 to 67 years old for most beneficiaries.
If you are applying for SSDI disability benefits, the maximum is $3,822 but the average ranges between $1,300 and $1,600. This number is not agreed upon, because some sources claim that it ranges from $1,489.26 to $1,537.
Remember that the SSA has a free online calculator to calculate how many benefits you will receive, depending on the different scenarios you are considering, whether retiring early, at age 62, or waiting until the maximum allowed age of 70 to start collecting your benefits payments. Enter the tool available on the official SSA website here: https://www.ssa.gov/benefits/calculators/.
If You Don’t Do This Soon, You Will Lose Access to Your SSA Data
If you created a Social Security username more than 3 years ago, you will need to transition to a new or existing Login.gov account, or use an ID.me account to continue accessing online services. Starting June 1, 2024, if you sign in to your personal My Social Security account, you can switch to Login.gov.
If you opened your My Social Security account on or after September 18, 2021, you don’t have to worry, you’re already set up correctly. But if you’re one of the 46 million people who created your account before then, you’ll need to upgrade to Login.gov or ID.me before the end of the year.
This change seeks to simplify your experience and align with federal authentication standards. We recommend you make the transition as soon as possible to avoid any interruption in access to services. For more details, see our FAQ and create an account. Share this information with your acquaintances so they are also aware!