New payment is on January 17th. In fact, it won't be the last in January, and the Social Security Administration has confirmed another one checking on January 24, 2024
If you are receiving retirement benefits, you may receive your January check on either of these two pay days. The thing is, you must have filed for Social Security payments or you can't collect them even if you're eligible.
The Social Security Administration is warning payments sometimes they don't arrive on time. This may be due to your bank. Therefore, if you do not receive it, contact your bank first and wait three days for shipment before calling the SSA.
WHAT ARE THE 2 REQUIREMENTS TO RECEIVE THE PAYMENT ON JANUARY 17 IN THE US?
First and foremost, you must have received pension benefits from May 1997 onwards. Those who started receiving pension benefits earlier will receive them payment on February 2.
So all retirees who meet the filing requirement must also meet the birthday condition. Remember that the Social Security Administration organizes payments on the second, third and fourth Wednesdays.
To receive payment on January 17th, you must have a birthdate from the 11th to the 20th. For example, if your birthday is the 15th, you can receive your Social Security if you started collecting benefits after or in May 1997.
Note that if your date of birth is between the 21st and 31st, then your check will be due on January 24th. FYI, this will be the first time that all of these beneficiaries receive the 2024 COLA increase. Only those who received checks before they got the boost.
DOES EVERYONE GET $1,907 IN THEIR JANUARY RETIREMENT CHECKS?
Not everyone can get the $1,907 even if they qualify for the January payment because they receive Social Security benefits. Remember that each pensioner has his own personalized amount. The age you submit, your past earnings, and your work history shape yours payment quantity.
In fact, the Social Security Administration claims in the latest COLA fact sheet that average pay for 2024 is 1907 dollars after the $59 COLA increase. However, if you did not pay enough taxes to the SSA while you were working, you may receive a lower check.
However, people with high incomes may receive a larger Social Security payment. In fact, they can get up to $4,873 in 2024. To get that amount, you must have earned the taxable maximum for 35 years while you worked. Plus, unless you retire at age 70, you can't get either 4873 dollars.