The Social Security Administration (SSA) recently announced a change affecting June payments for retired workers. Staying informed about these payment dates is crucial for Social Security beneficiaries to plan their monthly finances effectively and avoid any financial hiccups.
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Payment Date Change
The SSA oversees several programs, including retirement insurance, disability insurance, the survivors program, and Supplemental Security Income (SSI). To manage these programs efficiently, the SSA schedules various payment dates throughout the month, balancing the operational workload for their staff and ensuring timely disbursements to all beneficiaries.
For June, a specific group of retirees will see a change in their payment date due to a federal holiday. Juneteenth, celebrated on June 19th, falls on the third Wednesday of the month, which is a scheduled payment date for some beneficiaries. To avoid any delays or issues with the banking system, the SSA has moved this payment date to Tuesday, June 18th.
Who Is Affected?
The change specifically affects beneficiaries who:
- Retired after May 1997
- Were born between the 11th and 20th of the month
Typically, these beneficiaries receive their payments on the third Wednesday of each month. However, due to Juneteenth, their payment will be made a day earlier.
Full Social Security Payment
Here is the complete payment schedule for June:
- June 3rd: Payment for retirees who claimed benefits before May 1997.
- June 12th: Payment for retirees born between the 1st and the 10th.
- June 18th: Payment for retirees born between the 11th and the 20th.
- June 26th: Payment for retirees born between the 21st and the 31st.
Knowing these dates is essential for planning your finances and ensuring you have access to your funds when needed.
How Much Will Recipients Receive in June?
The amount Social Security beneficiaries receive varies based on several factors, including the age at which they claimed benefits, their work history, and their contributions to the Social Security system. Here are the average payment amounts for retired workers in 2024:
- On average: $1,900
- Age 62: $2,710
- Age 67: $3,822
- Age 70: $4,873
To find out your specific monthly payment amount, you can check your “my Social Security Account.” This online resource provides detailed information about your benefits and allows you to download your monthly statements.
FAQs
Why is there a change in the payment date for June?
The payment date was changed to June 18th because June 19th is Juneteenth, a federal holiday. This adjustment ensures there are no delays due to the holiday.
Who is affected by the payment date change?
Retirees who claimed benefits after May 1997 and were born between the 11th and 20th of the month are affected by this change.
How can I check my Social Security payment amount?
You can check your payment amount by logging into your “my Social Security Account” online. This account provides all the information related to your benefits.
What if I don’t receive my payment on the new date?
If you don’t receive your payment on the scheduled date, wait at least three mailing days before contacting the SSA.
Will this change affect future payment dates?
This change is specific to June 2024 due to the Juneteenth holiday. Future payment dates will follow the regular SSA schedule unless otherwise announced.