Social Security, SSI Checks Update: What to do If You Don't Get Your Payments This August

Around 65 million Americans receive Social Security checks, with the first round disbursed this week for the month of August.

CNET reported that Social Security payments could soon see their largest increase in 40 years due to the soaring inflation the country has seen over the past year.

Social Security checks release are based on three different Wednesdays of each month, which are the second, third, and fourth Wednesday.

It also depends on your birth date. For instance, if the recipient's birthday falls between the 1st and 10th of the month, Social Security payments will be sent out on the second Wednesday of the month. For those with birthdays falling between the 11th and 20th of the month, the payment will be on the third Wednesday of the month. Fourth Wednesday's distribution is for recipients with birthdays falling between the 21st and 31st of the month.

Social Security Payments August

Payments for those who receive Supplemental Security Income will receive their checks on August 1.

The Supplemental Security Income program sends monthly payments to adults and children with a disability that prevents the ability to work. SSI is also available to those 65 years and older who have limited income and financial resources, according to a Yahoo News report.

Meanwhile, payments for those who receive both SSI and Social Security or have received Social Security since before May 1997 will be sent on August 3.

Social Security payments for recipients with birthdays between the first and 10th of any given month will start on August 10. Those with birthdays between 11th and 20th will receive their checks on August 17, while recipients with birthdays falling between 21st and 31st will receive theirs on August 24.

Social Security Administration advised allowing three additional mailing days before contacting the agency if recipients do not receive their payments on the scheduled date.

Social Security Benefits Increased

Social Security recipients receive an average of $1,542.22 per month. If the cost-of-living adjustment were to increase by 10.5%, recipients would receive approximately $175.10 extra monthly, as reported by SI LIVE.

The COLA increase was 5.9% for the last two years. The last double-digit increase was in 1982, when there was an 11.2% increase.

The Social Security Expansion Act was first introduced in June by Rep. Peter DeFazio and Sen. Bernie Sanders. The measure would provide beneficiaries an additional 12% each month, equivalent to $200 per month. It would mean a total of $2,400 annually.

Those who would receive the bonus check are any current Social Security recipient in 2023 and at least 62 years old.

The measure would also ramp up benefits for the lowest income earners in the United States and adjust the rate to 125% of the federal poverty line, which would also increase the monthly check to around $1,400 per month.

Lawmakers noted that over 93 percent of households would not see a change in their income tax.

This article is owned by Latin Post.

Written by: Mary Webber

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