Social Security payment 2022: First half of $1,682 total monthly payment to be sent in one day
Supplemental Security Income recipients are set to receive the first of two September payments of $841 in only one day.
The first payment is scheduled to be sent out to eligible people on Sept. 1, with the next of the monthly checks being delivered on Sept. 30 for those same recipients.
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For this year, there are three months, including September, in which eligible recipients will receive two checks for a total of $1,682 in Supplemental Security Income. The other two months in 2022 are April and December.
The Social Security Administration issues the checks the Friday prior to each of those months to ensure recipients have the check by the first of the month, according to the agency.
Because Oct. 1 falls on a Saturday this year, the Supplemental Security Income payment for that month is delivered on Friday, Sept. 30.
Two checks are being given during these three months because the first days of the months of May 2022, October 2022, and January 2023 fall on a weekend. As a result, recipients will technically not receive any payments in October or January 2023, and they did not receive payments in May.
In 2023, there will be four months with two payments under the same month: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October 2023. New Year’s Day is a federal holiday, so every year, the January payment is distributed early.
Eligible couples will receive two payments of $1,261 next month for a total of $2,522.
Essential persons, people who live with someone receiving Supplemental Security Income and provide them with necessary care, will receive two payments of $421 in September, to be paid out on the same days.
Supplemental Security Income was first issued by the SSA in January 1974, with payment rates increasing for cost-of-living adjustments since 1975, according to the agency.
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Social Security payments are expected to increase next year to keep up with inflation. Analysts predict the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more, which could move recipients into higher tax brackets.
Estimates say Social Security insolvency will occur in 2034 unless acted upon by Congress.