As August approaches, it’s time to prepare for the next round of Social Security payments, benefiting over 70 million recipients across the United States. The Social Security Administration (SSA) diligently distributes various benefits, including SSI, retirement, disability (SSDI), and survivor benefits, on a monthly basis.
Knowing the intricacies of payment schedules and knowing what to do if you encounter issues is crucial for seamless financial planning. Let’s cut into the details of the upcoming payments and some essential tips for recipients.
Payment Schedules
Social Security benefits are not disbursed on a single date for everyone. Instead, the schedule depends on your birth date and the type of benefit you receive. In 2024, about 68 million Americans will receive some form of Social Security benefit each month, with an estimated one and a half trillion dollars distributed this year.
Birth Date-Based Payments
Here’s how payments are organized based on your birth date:
- 1st to 10th of the month: Payments are made on the second Wednesday.
- 11th to 20th of the month: Payments are made on the third Wednesday.
- 21st to 31st of the month: Payments are made on the fourth Wednesday.
Exceptions to the Rule
There are specific exceptions to the general rule:
- Retirement Benefits Before May 1997: If you started receiving retirement benefits before May 1997, payments are typically made on the third of each month.
- Supplemental Security Income (SSI): SSI payments are usually disbursed on the first of the month. However, this month is special because recipients will receive two payments. The first payment will be on August 1, and the second, due to September 1 falling on a Sunday, will be on August 30. The SSA avoids issuing benefits on holidays or weekends, hence the adjusted schedule.
Full Schedule for August 2024
- August 1: All SSI payments.
- August 2: Social Security benefits for those receiving retirement benefits before May 1997 or those also receiving SSI.
- August 14: Payments for birthdays between the 1st and 10th.
- August 21: Payments for birthdays between the 11th and 20th.
- August 28: Payments for birthdays between the 21st and 31st.
- August 30: Early SSI payments for September.
Early Payments
The early SSI payment on August 30 is designed to ensure recipients do not experience financial inconvenience. The SSA has clarified that this does not count as a duplicate payment; it’s merely an adjustment for the timing of the first-of-the-month payment.
Handling Missed Payments
If you do not receive your benefits on the scheduled date, follow these steps:
Verify Payment Information
Ensure that the SSA has the correct banking information for direct deposits or your current mailing address for check payments. Confirm you meet all eligibility requirements for the benefit you expect.
Allow a Few Extra Days
Payments can be delayed due to weekends, holidays, or processing issues. Wait a few extra days before taking further action.
Contact Your Bank
If expecting a direct deposit, contact your bank to confirm they haven’t received the payment. Check if there are any issues with your account preventing the deposit.
Check Your SSA Account
Log in to your online “my Social Security” account to view your payment history and verify the payment was issued. If you don’t have an account, create one on the SSA website.
Contact the SSA
If your payment is still missing after a few days, contact the SSA directly at 1-800-772-1213 (TTY 1-800-325-0778) from Monday through Friday, 7 a.m. to 7 p.m. local time. Be prepared with your Social Security number, date of birth, and other relevant details for identification.
Keeping a record of the dates you contacted the SSA and the representatives you spoke with can help resolve issues more efficiently.
Receiving Social Security payments on time is vital for many Americans. Knowing the schedule and knowing what to do if something goes wrong ensures that you can manage your finances smoothly and avoid unnecessary stress.
FAQs
When will SSI payments be made in August 2024?
August 1 and August 30.
What if my birthday is between the 11th and 20th?
Expect your payment on August 21.
Why are there two SSI payments in August?
Due to September 1 falling on a Sunday.
What should I do if I miss a payment?
Verify your details and contact SSA.
How can I check my payment history?
Log in to your “my Social Security” account.