Social Security Payment of up to $4,873 To Be Paid Today

A round of Social Security payments will be made to select groups of recipients today.

According to the Social Security Administration (SSA), in 2024, an estimated 68 million Americans will receive some form of Social Security benefit on a monthly basis. These benefits include retirement, disability, and survivor benefits, with a total payout of approximately $1.5 trillion throughout the year.

However, due to the large volume of beneficiaries and significant amount of funds being distributed, not all claimants can expect to receive their payments on the same date each month.

Those who have either been claiming Social Security before 1997 for the last 27 years and three months, or claim both retirement benefits and Supplemental Security Income (SSI) will be paid today, September 3.

Those who get SSI only without retirement benefits should have already been paid, with amounts scheduled to go out on August 30—two days earlier than the usual 1st of the month payment date due to September 1 falling on a weekend.

Further payments for other beneficiaries will be made next week and throughout the month, with all other retirement benefits paid according to a recipient’s date of birth.

Those with birthdays that fall between the 1st and 10th of any month will receive their monthly amount on September 11, while claimants who have a birthday between the 11th and 20th of any month receive their payment in the following week on September 18. Finally, anyone born between the 21st and 31st of any month will have their benefits paid on September 25.

If you have not received your funds on your allocated date, the SSA recommends waiting three working days before contacting them.

For those who are eligible to claim the highest amount of Social Security retirement payments, they will be getting as much as $4,873 today. However, this is likely to be lower for most beneficiaries.

As of January 2024, the average monthly retirement benefit for claimants was $1,907. The calculation for Social Security payments takes into account the 35 highest-earning years in an individual’s career and is adjusted for inflation.

On its website, the SSA explains: “The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2024, your maximum benefit would be $3,822. However, if you retire at age 62 in 2024, your maximum benefit would be $2,710. If you retire at age 70 in 2024, your maximum benefit would be $4,873.”

For those who collect SSI, the highest possible amount that can be claimed per month is $943 for an individual and $1,415 for a couple. SSI provides checks to Americans living with disabilities as well as older adults with limited incomes.