The second wave of the Social Security Administration’s retirement payments, worth up to $4,555, will go out to beneficiaries in two days. The payments will be for those born between the 11th and 20th of a month.
The disbursement, which will be released to retirees on Wednesday, is the second of three waves of payments for the month. Each wave corresponds with the 10-day block of a month when a recipient was born, according to the SSA’s schedule. The final round of payments will go out one week later, and it will be for people born between the 21st and 31st of a month.
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The first round of March payments was for people born between the 1st and 10th of a month, and it went out to recipients on March 8.
The amount of money recipients get from the payment depends on their retirement age. The highest payment of up to $4,555 per month goes to people who retired at 70. Recipients who retired at 67 receive a maximum check of $3,627, and anyone who retired at 62 gets up to $2,572, according to the SSA.
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The amount of money retirees receive in Social Security is subject to change, and it could decrease if Congress does not determine how the program will be funded in the future. Discussions on Social Security have been ongoing in Congress for years, but most recently, a pair of bipartisan senators have proposed raising the retirement age to 70.
Currently, the retirement age is 67, but workers can take early retirement at 62 or delay retirement until they are 70.
