The Social Security Administration (SSA) is known for providing extensive support to US citizens and one of its monthly payments, Supplemental Security Income (SSI), will double this month for a special reason.
The Social Security Administration (SSA) maintains a strict distribution schedule for monthly paymentsas the first day of each month is usual issue date for Supplemental Security Income (SSI) beneficiaries.. In the case of December, the first payment has already been issued, but the second payment, scheduled for December 29presents features related to the holiday of January 1, 2024.
This adjustment in the date of the second payment is intended to avoid possible delays due to the New Year’s holiday, ensuring that Americans receive SSI experience no delays in receiving their funds. It is important to note that this practice does not involve additional income, but rather is an advance payment that is made on the last business day of the previous month when the 1st falls on a holiday or weekend.
Why is there an additional SSA payment in December?
The decision to advance the second payment in December was influenced by the high levels of inflation. In response to these, The Social Security Administration has applied a 3.2% cost-of-living adjustment (COLA) for 2024. This increase will be reflected in the second payment in December, allowing beneficiaries to adjust to changes in the cost of living in the United States.
#BREAKING! More than 71 million Americans will get a 3.2% monthly raise #Social Security benefits and #SSI payments in 2024. Check our blog for more information: #CAR #2024COLA pic.twitter.com/y7F19zqFWz
— Social Security (@SocialSecurity) October 12, 2023
As for receiving two payments per month, it is important to understand that this is not additional income; it is simply a preemptive practice to ensure timely availability of funds. In the context of December 2023this advance aims to offer those relying on the SSI program a smooth transition into the new year by providing financial security from early 2024.
In summary, advancing the second The December payment is justified for logistical reasons connected until holidays and weekends, as well as the need to adjust to changes in the cost of living. This approach from SSA reflects its commitment to efficiency in allocating funds and adapting to changing economic conditions.