Supplemental Security Income beneficiaries are set to receive their $914 monthly payments in only 11 days.
Couples who are eligible for SSI will receive their regular payments of $1,371 on Feb. 1. Essential persons, or those who live with people receiving SSI and give them necessary care, will receive payments of $458 at the beginning of next month.
WHITE HOUSE SENDS OUT ‘CHEAT SHEET’ TO TOUT BIDEN’S RECORD ON TWO-YEAR ANNIVERSARY
SSI payments were first issued to eligible individuals and couples by the Social Security Administration in January 1974. To combat year-to-year inflation, the size of payment has increased for cost-of-living adjustments since 1975, per the agency.
The Social Security Administration sends out SSI payments on the first of each month, but when that day falls on a holiday or weekend, payments are issued on the last weekday before the first of the next month, according to the agency. Scheduling quirks occur for the March, June, September, and December payments this year, and beneficiaries will receive two of their monthly payments in the same calendar month.
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Some estimates say Social Security insolvency will occur in 2034 at the earliest unless acted on by Congress.
