{"id":267,"date":"2024-12-16T04:55:42","date_gmt":"2024-12-16T09:55:42","guid":{"rendered":"https:\/\/futbolete.com\/us\/?p=267"},"modified":"2024-12-16T04:55:42","modified_gmt":"2024-12-16T09:55:42","slug":"social-security-news-ssi-payment-two-days","status":"publish","type":"post","link":"https:\/\/futbolete.com\/us\/social-security-news-ssi-payment-two-days\/","title":{"rendered":"Social Security News: second round of direct deposits to be issued in 2 days"},"content":{"rendered":"

Eligible retirees in the United States<\/strong> are about to receive a new payment from Social Security<\/strong>. On average, these checks or direct deposits can be about $1,927<\/strong>. However, the amount will not be the same for all seniors on retirement benefits<\/strong>. If you were a high earner for more than 35 years, your payment will be higher than if you worked for just 10 years with a low wage.<\/p>\n

December will bring 2 more payments for retirees<\/strong>, but, of course, you could only receive one of the two. The following one will be issued in just 5 days, so it is time to prepare your monthly budget.<\/p>\n

Next payment dates for retirees on Social Security up to $1,927<\/h2>\n

The 2 upcoming paydays for Americans on retirement benefits will be on December 18 and December 24<\/strong>, 2024. In fact, the main requirement to get a Social Security check or deposit on the 18th will be your birth date.<\/p>\n

If you were born from the first to the tenth, your benefit was due on December 11. So, if it is from 11-20, it will be sent on December 18. That is, on the third Wednesday in December. An important change<\/strong> will take place on December 24<\/strong>.<\/p>\n

Usually, the third round of payments is on the fourth Wednesday, but it will be delivered on a Tuesday instead. For your information, Wednesday, December 25 is a Federal Holiday<\/strong>, and SSA offices and financial institutions are closed on that important celebration. December 24 will be your next payday if your birthday is from 21-31. For any of the remaining payments for retirees, you cannot be on SSI and you can’t have started getting payments before May 1997.<\/p>\n

Will retirees will get the 2025 COLA in the December 18 and 24 Social Security payments?<\/h2>\n

None of the December payments for retirement will include the 2025 COLA<\/strong>. Only SSI recipients who get their January payment on December 31, 2024, will enjoy the 2.5% COLA increase.<\/p>\n

After the 2025 COLA increase, the average payments will be $1,976<\/strong> according to Social Security’s COLA Fact Sheet for 2025. The first retirees to receive this COLA boost will be those who qualify for the January 3, 2025, payment.<\/p>\n

The largest retirement benefit payment in 2025 will become $5,108<\/strong>, up from $4,873. It is only possible to achieve it if:<\/p>\n

    \n
  • file at 70<\/li>\n
  • earned the taxable maximum for 35 years or more<\/li>\n
  • worked for a minimum of 35 years<\/li>\n
  • have jobs covered by SSA<\/li>\n<\/ul>\n

    5 Key Factors That Determine Your Social Security Benefits<\/h2>\n

    Here are the key factors that influence the amount of Social Security retirement benefits<\/strong> a person receives:<\/p>\n

      \n
    • Work history<\/strong> – To compute your benefit, the SSA<\/strong> takes the average of the 35 highest earning<\/strong>, inflation-indexed years<\/strong> of work history. Years in which one did not earn will be considered as earning zero dollars<\/strong> and will be included in the average.<\/li>\n
    • Earnings history<\/strong> \u2013 In general, the higher the lifetime earnings<\/strong>, the higher the Social Security benefit<\/strong> one is to receive. The SSA<\/strong> covers a higher percentage of the pre-retirement income<\/strong> for very low wage earners<\/strong> compared to high wage earners<\/strong>.<\/li>\n
    • Birth year<\/strong> \u2013 The full retirement age<\/strong>, which is the age at which one is entitled to receive 100% of the benefit<\/strong> as calculated, is based on the year of birth<\/strong>. It varies from 66 to 67 years<\/strong> depending on the year of birth after 1943<\/strong>.<\/li>\n
    • Claiming age<\/strong> \u2013 Benefits may be claimed as early as 62<\/strong>, but the amount that one will receive each month will be reduced. If one decides to delay benefits to a time after full retirement age<\/strong> and up to age 70<\/strong>, then the benefit will be higher by about 8% for every year<\/strong> that one delays.<\/li>\n
    • Cost-of-living adjustments<\/strong> \u2013 The benefits increase each year by the inflation rate<\/strong> from age 62<\/strong>, even if one hasn’t started receiving them. The adjustments are made using the Consumer Price Index<\/strong>. If you have a government<\/strong> or foreign pension<\/strong> from a job where you didn’t pay into Social Security<\/strong>, then your benefit may be affected by the Windfall Elimination Provision<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Eligible retirees in the United States are about to receive a new payment from Social Security. On average, these checks or direct deposits can be about $1,927. However, the amount will not be the same for all seniors on retirement benefits. If you were a high earner for more than 35 years, your payment will […]<\/p>\n","protected":false},"author":1,"featured_media":268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","subtitle":"New Payments of Up to $1,927 Coming Soon for Eligible Retirees","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"hide","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"d\/m\/Y H:i","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1","show_share_counter":"1","show_view_counter":"1","show_post_tag":"1"}],"image_override":[{"single_post_thumbnail_size":"no-crop","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0"},"jnews_primary_category":[],"footnotes":""},"categories":[1],"tags":[37,42],"class_list":["post-267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-social-security","tag-ssi"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts\/267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/comments?post=267"}],"version-history":[{"count":0,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts\/267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/media\/268"}],"wp:attachment":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/media?parent=267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/categories?post=267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/tags?post=267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}