The first round of August’s Social Security payments, worth up to $4,873 for the highest-income earners who retire at age 70, will go out to the first group of retirees in two weeks.
Here is everything to know about this month’s Social Security payments.
What is it?
President Franklin D. Roosevelt signed the Social Security Act into law in 1935, creating the Social Security Administration to manage it. The agency sends monthly checks to retirees, meant to reduce or replace their incomes once they stop working.
When am I eligible?
Citizens are eligible for Social Security payments starting at 62 years old.
When does the check arrive?
Social Security payments typically begin on the second Wednesday of every month, and the following waves go out in the subsequent weeks. The distributi …
