If you do not qualify for a Social Security payment before July 4, you may get it on three different paydays. It will depend on the day when you were born if you get money on the second, third, or fourth Wednesday in July.
As for the amount, it will depend on your work history, earnings, and filing date. However, the average Social Security amount is $1,916 as of May 2024. So it is more than likely that many retirees get a similar amount. Of course, it could be lower or higher.
Social Security after July 4, Independence Day
The first retirement benefit payment after July 4 will on on the 10th. This check or direct deposit will be for those who:
- did not get Social Security before May 1997.
- are not on SSI benefits.
- were born from the 1-10 of any month.
Those retirees who meet the first 2 requirements, but not the birth date condition may get money from Social Security on July 17 or July 24. Once more, the earlier your birthday is the sooner you will receive your retirement benefit payment.
July 17 will be your payday if you meet the previous requirement and your birthday is from 11-20. The last payment date will be for those who were born from the 21st to the 31st of any month.
Social Security payments can be more than $1,916 in July
The Administration has confirmed that the maximum benefit for retirees is worth $4,873 in 2024. Therefore, that will be the maximum benefit possible before and after July 4, Independence Day.
That is the maximum benefit if you file at 70. Other maximum benefit amounts are available for those who file at Full Retirement Age. For them, it could be up to $3,822.
Seniors who opt for early filing can receive a monthly payment of up to $2,710. If you are not on retirement, but you get Social Security Disability Insurance, the paydays will be the same as for retirees.
Read More: Payments of $1,916 arriving after Independence Day, Social Security unveils