{"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":"<p>Eligible retirees in the <strong>United States<\/strong> are about to receive a <strong>new payment from Social Security<\/strong>. On average, these checks or direct deposits can be about <strong>$1,927<\/strong>. However, the amount will not be the same for all seniors on<strong> 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<p>December will bring <strong>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<h2>Next payment dates for retirees on Social Security up to $1,927<\/h2>\n<p>The 2 upcoming paydays for Americans on retirement benefits will be on <strong>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<p>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 <strong>important change<\/strong> will take place on<strong> December 24<\/strong>.<\/p>\n<p>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<strong> 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&#8217;t have started getting payments before May 1997.<\/p>\n<h2>Will retirees will get the 2025 COLA in the December 18 and 24 Social Security payments?<\/h2>\n<p>None of the December payments for retirement will include the <strong>2025 COLA<\/strong>. Only SSI recipients who get their January payment on December 31, 2024, will enjoy the 2.5% COLA increase.<\/p>\n<p>After the 2025 COLA increase, <strong>the average payments will be $1,976<\/strong> according to Social Security&#8217;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<p>The largest retirement benefit payment in <strong>2025 will become $5,108<\/strong>, up from $4,873. It is only possible to achieve it if:<\/p>\n<ul>\n<li>file at 70<\/li>\n<li>earned the taxable maximum for 35 years or more<\/li>\n<li>worked for a minimum of 35 years<\/li>\n<li>have jobs covered by SSA<\/li>\n<\/ul>\n<h2 data-block-id=\"44a02720-e18b-44f4-8653-8798e57457bf\" data-pm-slice=\"1 1 []\">5 Key Factors That Determine Your Social Security Benefits<\/h2>\n<p>Here are the key factors that influence the amount of <strong>Social Security retirement benefits<\/strong> a person receives:<\/p>\n<ul>\n<li><strong>Work history<\/strong> &#8211; To compute your benefit, the <strong>SSA<\/strong> takes the average of the <strong>35 highest earning<\/strong>, <strong>inflation-indexed years<\/strong> of work history. Years in which one did not earn will be considered as earning <strong>zero dollars<\/strong> and will be included in the average.<\/li>\n<li><strong>Earnings history<\/strong> \u2013 In general, the higher the <strong>lifetime earnings<\/strong>, the higher the <strong>Social Security benefit<\/strong> one is to receive. The <strong>SSA<\/strong> covers a higher percentage of the <strong>pre-retirement income<\/strong> for <strong>very low wage earners<\/strong> compared to <strong>high wage earners<\/strong>.<\/li>\n<li><strong>Birth year<\/strong> \u2013 The <strong>full retirement age<\/strong>, which is the age at which one is entitled to receive <strong>100% of the benefit<\/strong> as calculated, is based on the <strong>year of birth<\/strong>. It varies from <strong>66 to 67 years<\/strong> depending on the year of birth after <strong>1943<\/strong>.<\/li>\n<li><strong>Claiming age<\/strong> \u2013 Benefits may be claimed as early as <strong>62<\/strong>, but the amount that one will receive each month will be reduced. If one decides to delay benefits to a time after <strong>full retirement age<\/strong> and up to <strong>age 70<\/strong>, then the benefit will be higher by about <strong>8% for every year<\/strong> that one delays.<\/li>\n<li><strong>Cost-of-living adjustments<\/strong> \u2013 The benefits increase each year by the <strong>inflation rate<\/strong> from <strong>age 62<\/strong>, even if one hasn&#8217;t started receiving them. The adjustments are made using the <strong>Consumer Price Index<\/strong>. If you have a <strong>government<\/strong> or <strong>foreign pension<\/strong> from a job where you didn&#8217;t pay into <strong>Social Security<\/strong>, then your benefit may be affected by the <strong>Windfall Elimination Provision<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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 &#8230; <a title=\"Social Security News: second round of direct deposits to be issued in 2 days\" class=\"read-more\" href=\"https:\/\/futbolete.com\/us\/social-security-news-ssi-payment-two-days\/\" aria-label=\"Read more about Social Security News: second round of direct deposits to be issued in 2 days\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"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"],"_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}]}}