Social Security recipients keep an eye out for their benefits each month.
If you’re one of those folks — and you’re wondering when you can expect your payment for March — here’s what to know about the Social Security Administration’s (SSA) payment schedule.
According to the SSA, when a person receives their Social Security payment is dependent upon the day of the month they were born.
For the people born on the 1st to 10th, it’s the second Wednesday of each month (March 10, in this case); the 11th through 20th, the third Wednesday of each month (March 17); and the 21st through the 31st, the fourth Wednesday of each month (March 24).
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Those receiving Supplemental Security Income (SSI) can expect it on March 25. For anyone who received Social Security before May 1997, your payment dates are March 3 or March 25 as well.
The SSA states that individuals receive $944 a month; married couples, $1,491. An individual deemed an essential person — someone who helps someone stay in their home by paying part of the cost to have someone live with you, among other things — receives $498 a month.
There are nearly 71 million Social Security beneficiaries in the United States as of January, according to the administration. The cost-of-living adjustment (COLA) for this year ended up being 2.8 percent.
“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security,” said Social Security Administration Commissioner Frank J. Bisignano. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”
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You can check your Social Security payments for yourself here.
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