You may have been looking for the payment dates of Social Security and its various benefits, such as retirement, Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and also how much you are going to receive this month.
Well, you have come to the right place because we have collected for you all the information that the Social Security Administration (SSA) puts on its website, but which is usually complicated to analyze and understand. Don’t worry, we also had a hard time deciphering those complex SSA documents, but we did it, and we’re going to explain everything concerning this month.
Social Security Payments Plan for the Upcoming Days
So far, three payment dates have already been made for different groups of beneficiaries. The first of the remittances was the one for those who receive SSI, which is given on the 1st of every month.
The second payment is the one that the SSA schedules every month for the 3rd day: this day is the bank deposits or checks of those who receive both SSI and Social Security benefits, or who began receiving payments since before May 1997.
The third payment that has already been sent was that of the recipients of Social Security retirement and SSDI, to whom they are sent on the second Wednesday of each month, that is, on July 10, in this case. On this day, all those who have birthdays between the 1st and the 10th of any month are grouped together.
Two More Payments Are Scheduled to Be Paid in a Matter of Days
Following the SSA’s logic of grouping beneficiaries based on date of birth, these are two payments coming in the next two weeks:
- Third Wednesday (July 17th): for those with birthdates from 11th to 20th.
- Fourth Wednesday (July 24th): for those with birthdates from 21st to 31st.
Maximum Social Security Benefit in 2024
In 2024, the maximum Social Security benefit is $4,873 per month, or $58,476 per year, for those who qualify and delay claiming benefits until age 70. To reach this maximum, it is also necessary to have earned the maximum taxable amount ($168,600 in 2024) for at least 35 years.
Social Security Supplemental Security Income (SSI)
As of January 1, 2024, the maximum monthly Social Security Supplemental Security Income (SSI) benefit is $943 for an eligible individual and $1,415 for an eligible couple. However, the actual amount a person receives may be less depending on several factors, including:
- Income
- Income of certain family members
- Housing situation
Social Security Disability Benefit (SSDI)
The maximum Social Security Disability benefit (SSDI) in 2024 is $3,822 per month. However, the average SSDI benefit is closer to $1,489.26 per month. The amount received is based on the indexed average monthly income (AIME), which is the average-covered income over several years, adjusted for inflation.
The Social Security Administration (SSA) also applies “tipping point” percentages to certain portions of your average income to calculate your principal insurance amount (PIA). The PIA is the amount you will receive each month if you qualify for SSDI benefits.
