Millions of seniors will receive the first wave of retirement checks from the Social Security Administration for September, worth up to $4,555 for people who retire at 70, in just over two weeks.
The first payment will go out Sept. 13, the second Wednesday of the month, and it goes to people born between the first and the 10th of their birth month. The second round goes out exactly a week later for the next 10-day block on Sept. 20. The final distribution will be released on the fourth Wednesday of the month, Sept. 27, and it will be for those born on or after the 21st of a month.
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Another group of retirees that also sees monthly payments consists of seniors who receive both Supplemental Security Income and Social Security benefits, people who retired before 1997, and U.S. retirees who live outside the country. They will receive payments on Sept. 7, regardless of the day of the month they were born.
The maximum payments for each retiree depend on certain factors, including the person’s age at retirement. Those who retire at the earliest age of 62 can receive up to $2,572 each month. Those who retire at the full retirement age of 67 receive a maximum check of $3,627 per month, and those who delay their retirement to 70 get the largest payment of up to $4,555 per month, according to the SSA.
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There is a debate on Capitol Hill about the long-term outlook for Social Security’s future, and changes to the program will be necessary if Congress does not agree on funding for the program before its trust runs out in the next 10 years. Changes could include restructuring how the payments go out and how much money recipients receive, but people already on Social Security would not likely be affected by any changes.
Retirement payments are different from other checks handed out by the SSA, such as disability insurance or Supplemental Security Income. The next round of SSI payments is scheduled to be paid out to eligible recipients on Sept. 1.
