Millions of seniors will receive the first wave of September retirement checks from Social Security in 11 days. The checks will be worth up to $4,555 for people who retired at 70.
The first payment will go out Wednesday, Sept. 13, the second Wednesday of the month, and it goes to people who were born between the first and the 10th of their birth month. The second disbursement will go out a week later on Sept. 20, and it will be for those born between the 11th and 20th of their birth month. The final wave will go out Sept. 27 to those born on or after the 21st of a month.
BOOSTERS, FENCERS, AND CLEANERS: INSIDE CARTELS' NEWEST CRIMINAL ENTERPRISE OF ORGANIZED RETAIL THEFT Another group of retirees also sees monthly retirement payments. The group consists of seniors who receive both Supplemental Security Income and Social Security benefits, people who retired before 1997, and U.S. retirees who live outside of the country. They will receive payments on Sept. 7, regardless of the day of the month they were born.
The maximum payments for each retiree depend on certain factors, including the person's age at retirement. Seniors who retired at the earliest age of 62 can receive up to $2,572 each month. Those who retired at the full retirement age of 67 receive a maximum check of $3,627 per month, and those who delay their retirement to 70 get the largest sum of up to $4,555 per month, according to the Social Security Administration.
The long-term outlook on Social Security's future is still uncertain, and changes to the program will be necessary if Congress does not agree on funding for the program before its trust runs out in the next 10 years. Changes could include restructuring how the payments go out and how much money recipients receive, but people already on Social Security would not likely be affected by any changes.
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