A group of Social Security recipients will receive an extra $943 payment on May 31. The Social Security Administration (SSA) ends its May calendar with an advance payment that actually corresponds to the month of June. The SSA ends payments for the month of May, but a new group of beneficiaries will receive an additional payment on May 31. These beneficiaries are people who receive Supplemental Security Income (SSI), usually people with disabilities who access these funds to cover their basic needs.
The SSA issues millions of payments every month to beneficiaries of the Social Security program and all its branches, mostly retirees but also to SSI beneficiaries. Payments are usually made on the second, third and fourth Wednesday depending on the date of birth of each beneficiary. However, SSI recipients and retirees who have been receiving benefits since before May 1997 receive their checks or transfers on the first and third day of each month, respectively.
Why Is There a Change in the Social Security Schedule?
All this usually happens normally during most months of the year, except when a specific payday falls on a holiday or weekend. In such a case, the SSA advances the payment of your benefits to the nearest business day. And so it happens with the payments that will be made on the first of June, which falls on a Saturday. As such, those benefits will be sent to their beneficiaries on May 31, which is Friday.
Do not be confused: it is not extra money, since it is only the June payment that will arrive in advance, due to that particularity of the SSA calendar. All Social Security beneficiaries receive a total of 12 payments each year.
The average payments in 2024 are $1,907 for individuals and $3,303 for retired couples. For SSI beneficiaries, the payments are $943 for individuals and $1,415 for couples.
SSI recipients will receive a second payment of $943 on May 31, corresponding to June, in advance due to the weekend. This implies that they will not receive another payment in June, so it is advised to manage their finances well. Payments are made by direct deposit, mandatory now, or by check if no banking information was provided.
How Is the Social Security June Payment Schedule Going to Be?
The June payment schedule is:
- Monday, June 3rd: Beneficiaries before May 1997
- Wednesday, June 12th: Beneficiaries with date of birth between 1st and 10th
- Tuesday, June 18th: Beneficiaries with date of birth between the 11th and the 20th (shipping on Tuesday by the 16th)
- Wednesday, June 26th: Beneficiaries with date of birth between 21st and 31st
If you are among the groups whose payments are affected by this peculiarity of the SSA calendar, remember to plan your finances well because a day before or a day after can modify your household economy and leave you with a small gap in the budget at the end of the month.
