A strange rule in the US Social Security system allows beneficiaries to receive $2,830 USD this month. It is just a technicality of the system itself, but it helps significantly those who depend on that monthly money.
Two checks are issued to direct beneficiaries in August. As is known, the Social Security Administration (SSA) distributes payments according to a regular schedule.
Checks are delivered on the second, third and fourth Wednesday of each month.
For example, Supplemental Security Income (SSI), which is paid to people with disabilities and low-income seniors, is paid on the first of the month.
That happens, as a general rule, unless that date falls on a weekend or holiday.
This year, since September 1 falls on a Sunday, SSI recipients will receive two payments in August. The first payment was made on August 1 and the second will arrive on Friday, August 30.
Single beneficiaries will receive $1,886 USD this month and couples will receive $2,830 USD. Typically, single people will receive a check for $943.00 USD and couples will receive $1,415 USD.
This is not the first time this has happened with Social Security.
Approximately 7.4 million Americans are receiving SSI. It may seem like getting two checks means extra money, but this deal only serves as an advance payment for September.
This situation will be repeated in November, as indicated by the SSA payment schedule; it has also happened in previous months.
Meanwhile, although retirees received a small cost-of-living adjustment (COLA) this year, many continue to face the challenges of ongoing inflation.
By the way, an Atticus poll shared by Fox Business found that about 62% of seniors receiving Social Security are unhappy with the 3.2% increase.
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