The Social Security Administration (SSA) has announced that beneficiaries who qualify for retirement, survivor, or disability insurance (RSDI) and claimed benefits after May 1997 will receive their payments on the second Wednesday of September. Specifically, those born between the 1st and 10th of the month will see their checks deposited on September 11.
Eligibility and Payment Amounts
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To qualify for these payments, beneficiaries must meet certain criteria such as reaching full retirement age, having a reasonable work history, and contributing to the Social Security system. For those receiving early retirement benefits, payments can be up to $2,710. At full retirement age, beneficiaries may receive up to $3,822, while delaying benefits until age 70 can yield a maximum of $4,873.
Social Security Disability (SSDI) and Survivor Benefits
Disability recipients must show proof of a severe medical condition or blindness that impairs their ability to work. They must also have worked and paid Social Security taxes for at least five of the last ten years. Survivor benefits and SSDI payments vary, with averages around $1,537 for SSDI and up to $1,505 for survivors. Blind recipients can receive up to $2,590, with the maximum payment reaching $3,822.
State Tax Changes Impacting Payments
Starting in September, nine states will impose new income taxes on Social Security benefits, affecting retirees’ monthly payments. States impacted include Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont, and West Virginia. These tax changes could reduce the overall benefits received by seniors in these states.
Source – lagradaonline