:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/WZ3DOC3ZTNF3RE7FG4OIUKYPNM.jpg "Social Security Payment Schedule and Amounts: Find Out If You’re Eligible for the April 24 Payment of up to ,873")
2024-04-23 15:13:50
On Wednesday, April 24, the last payment of the month will be made for the U.S. Social Security Administration (SSA) pensioners. How do you know if you will be among the beneficiaries of this disbursement? Find out here which group will receive the check of up to US$4,873 this time, according to the schedule of the federal entity, which itself will distribute US$1.5 billion throughout the year to 68 million retirees, workers with disabilities, dependents and survivors .
According to SSA data, almost nine out of ten people aged 65 or older were receiving a Social Security benefit as of December 31, 2023. To obtain a pension in the United States you must have contributed throughout your working life to Social Security and met certain rules, such as the annual number of credits (four). And the higher your contribution, the higher your retirement pension will be.
WHO IS DUE TO PAY THE SOCIAL SECURITY ON APRIL 24, 2024?
According to the Social Security Administration schedule, the payment on Wednesday, April 24, which is the fourth Wednesday of the month, is intended for those who retired following May 1997 and, in addition, were born between April 11 and 20. any month. They must also be deposited to survivors and beneficiaries of Disability Insurance (SSDI).
- April 24: Payment is made on the fourth Wednesday of each month to those who retired following May 1997 and were born between the 11th and 20th of any month. It also applies to Disability Insurance (SSDI) beneficiaries, as well as dependents and survivors.
2024 payment schedule (Photo: SSA)
HOW MUCH IS THE PAYMENT FOR RETIREES ON APRIL 24, 2024?
The Social Security Administration explains that the value of deposits or checks varies significantly, since they are directly related to retirement age and contributions throughout one’s working career. Next, he knows the amounts for April 17, 2024, according to the time of retirement:
- The average payment for a retiree is US$1,907.
- People who retired early, at age 62, receive a maximum of US$2,710 per month.
- For those who retired at age 67, their monthly payment can be up to US$3,822.
- Those who delayed their retirement until age 70 can obtain a maximum monthly payment of up to US$4,873.
HOW MUCH CAN YOU RECEIVE FOR SSDI?
Your monthly SSDI benefit amount is based on your average lifetime earnings covered by Social Security. According to the SSAthese are the amounts for April 2024:
- An average check: US$1,550
- The maximum amount: US$3,822
- People with blindness: US$2,590
- Payment to people who are in a trial work period: US$1,110
HOW DO I KNOW IF THE SOCIAL SECURITY PAYMENT APPLIES TO ME?
All the information regarding Social Security and the payment of the check can be found at the government entity’s websitewhich you can access in Spanish.
MORE INFORMATION ABOUT SOCIAL SECURITY
WHAT IS THE SSA?
The United States Social Security Administration is the federal government agency responsible for administering various social security programs in the country, although its primary responsibility is to manage and distribute retirement, disability, and survivor benefits to workers and their families.
WHAT IS THE SSA FOR?
Its main function is to provide economic benefits to eligible people at different stages of their lives, particularly in retirement, disability and survivorship.
The United States Social Security Administration is in charge of retirement and other benefits such as SSI (Photo: AFP)
APPEAL AND WAIVER OF REIMBURSEMENT TO SSA FOR EXCESSIVE CHARGES
- Appeal to the amount. If you disagree with the letter indicating that you have received an overpayment or believe the amount is incorrect, you can appeal by submitting the Reconsideration Request. You should explain why you think you have not been overpaid or why the amount is incorrect. While the case is being analyzed, no withholdings will be made.
- Payment exemption. Beneficiaries can request an exemption of payment, in case they believe that they were not at fault and/or that they do not have the capacity to pay. While the case is being analyzed, no withholdings will be made. In cases where the overpayment is US$1,000 or less, you can make the request by calling 1-800-772-1213 (option 7 for Spanish), or by going to your local Social Security office. They may process it faster.
WHO IS COVERED BY SOCIAL SECURITY IN THE UNITED STATES?
Social Security in the United States covers a variety of people, including:
- Retired people: Those who have reached retirement age and have accumulated enough work credits to be eligible to receive benefits.
- People with disabilities: Those who have a disability that prevents them from working and who meet specific criteria established by Social Security.
IN WHAT CASES CAN YOU NOT RECEIVE THE SSA RETIREMENT PAYMENT?
The Social Security Administration provides benefits to 66 million retirees, who can receive up to US$4,822 per month. However, upon reaching retirement age, not everyone accesses the payment.
WHAT ARE THE SSI PAYMENT METHODS?
SSI payments are made electronically, and there are two alternatives to receive the monthly payment:
- Direct deposit into bank account: It is the simple and secure way to receive your payments. You must contact your bank or contact SSI to receive payment.
- Direct Express Debit Card Program: It is made through the Direct Express card, where payments are deposited according to the schedule. You must contact the Treasury Department at 1-800-333-1795 or register Web way.
WHAT IS TAIL?
Cost of Living (COLA) in the United States it is average monthly expense necessary to meet the basic needs of a person or family. Includes expenses on housing, food, transportation, medical care, clothing, entertainment and other essential items.
The COLA varies significantly across the country, depending on various factors such as: location, home composition and lifestyle.
WHAT ARE SOCIAL SECURITY CREDITS, HOW ARE THEY CALCULATED AND HOW MANY ARE NEEDED TO ACCESS RETIREMENT?
Did you know that the social security system in the United States has a step prior to retirement from your workplace? These are credits, a type of accounting units that are obtained as the years progress while you work and pay your taxes on time. How to calculate these credits and what are the requirements to access this benefit?
Social Security credits are a fundamental step before entering retirement (Photo: AARP)
WHY WOULD THE LINE BY 2025 BE LESS?
The main reason for the decrease in the Cost of Living Adjustment (COLA) in 2025 is the cooling of inflation. The Senior Citizens League (TSCL) projects a Social Security COLA of 1.4%, the lowest since 2020, when it was 1.3%, as explained to MarketWatch. In contrast, the years 2021 and 2022 saw some of the highest COLAs since 1981, at 5.9% and 8.7%, respectively, due to inflation.
If this is confirmed, pensions for retirees and SSI beneficiaries in 2025 would see an increase of 1.4%. However, the article highlights that costs remain high.
WILL SOCIAL SECURITY BENEFICIARIES RECEIVE ANOTHER FEDERAL STIMULUS CHECK IN 2024?
The question that plagues many Social Security beneficiaries is whether they will receive any new financial support throughout the year 2024. Will Joe Biden’s administration provide a new stimulus check? After all, at the state level aid continues to arrive in some territories, while the Internal Revenue Service (IRS) is rewarding taxpayers with so-called tax refunds. What is the latest information on this?
HOW MUCH IS THE AVERAGE SSA PAYMENT BY STATE?
The Social Security payment is approved and regulated by the federal government headed by Joe Biden, although not the same amount of money is delivered in all states. Thus, the amount may vary depending on various factors for each member, such as retirement age, earnings history, Social Security credits, as well as marital status and list of dependents. For example, in Alabama you pay $1,467 and in Alaska you pay $1,480, but How much does each state receive?
The payment that the Social Security Administration (SSA) grants to retirees is subject to several requirements (Photo: Pexels)
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