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world6 months ago

Social Security Payments to Drop by 50% for Some Recipients in July

Millions of Social Security recipients are experiencing smaller or no payments in July due to the SSA's efforts to recover alleged overpayments, which has caused confusion and hardship. The agency is offsetting payments to recoup past overpayments, especially affecting SSI and SSDI beneficiaries, with some seeing up to 50% reductions. Recipients can appeal or request waivers, but the process is complex. This crackdown is part of broader efforts to address trust fund shortfalls, raising concerns about the impact on vulnerable populations.

via Fingerlakes1.com|
#benefit-cuts#overpayment-recovery#social-security
finance1 year ago

Upcoming Social Security Payments: December Schedule and November Extras Explained

Social Security payments for December 2024 will be distributed based on recipients' birthdates, with those born between the 1st and 10th receiving payments on December 11, those born between the 11th and 20th on December 18, and those born between the 21st and 31st on December 24. Individuals who have been receiving benefits since before May 1997, or who receive both Social Security and Supplemental Security Income, will receive payments on December 3. If a payment is missing, the Social Security Administration advises waiting three additional mailing days before contacting them.

via CNET|
#finance#financial-planning#government-benefits
finance1 year ago

Upcoming Social Security Payment Dates and Amounts for 2024

The article provides detailed information on the payment dates for SSI and SSDI for the next six months in 2024, including the impact of the 2025 Cost of Living Adjustment (COLA) on these benefits. It explains the eligibility requirements, the differences in payment schedules, and the anticipated changes in benefit amounts due to COLA. The article also discusses the potential inadequacy of the current Consumer Price Index used to calculate benefits for people with disabilities.

via Fort Hunt Herald|
#cola#finance#payment-dates
finance1 year ago

"Upcoming Social Security Payments: Key Dates and Amounts Revealed"

The Social Security Administration (SSA) has released its payment schedule for July, with payments being disbursed on specific Wednesdays based on beneficiaries' birth dates. Retirees born between the 11th and 20th will receive their payments on July 17, while those born between the 21st and 31st will get theirs on July 24. Additional benefits like SNAP Food Stamps may also be received around these dates. Recipients should verify their eligibility and payment dates to ensure they receive their benefits on time.

via Fort Hunt Herald|
#finance#payments#retirement
finance1 year ago

"August Social Security Payments: Key Updates and Extra Benefits"

The Social Security Administration (SSA) will distribute payments on July 17 and July 24, 2024, to eligible recipients. To qualify for the July 17 payment, beneficiaries must have been receiving benefits since May 1997 and have a birthdate between the 11th and 20th of any month. The July 24 payment is for those with birthdates between the 21st and 31st. Supplemental Security Income (SSI) payments will resume in August. Direct deposit is recommended for timely receipt of funds.

via Fort Hunt Herald|
#eligibility#finance#payments