New September Social Security payment update – Exact date of 2 remaining payments to retirees

Social Security confirmed that two Social Security payments are expected to be issued this month to retired workers and Social Security Disability Insurance (SSDI) recipients who applied for benefits after May 1997. Currently, the SSA estimates that more than 71 million people, or one in five Americans , they receive Social Security payments. Based on these figures, four out of five beneficiaries are elderly people, with the remaining five being young survivors of deceased workers or beneficiaries of Social Security Disability Insurance. If you qualify for retirement or disability benefits, find out when you will receive them this month.

What requirements must retirees and disabled people meet to receive their Social Security contributions?

Requirements of retired workers

To qualify retirement benefitsyou must first work and pay Social Security contributions, either through payroll taxes (as required by the Federal Insurance Contributions Act or FICA) or, if self-employed, through income tax returns . Remember that paying Social Security taxes on your wages earns you credits you can use to claim Social Security. For example, a maximum of four credits can be earned each year, so a person with 40 lifetime credits may be eligible for these Social Security benefits.

Requirements for people with disabilities

In the United States, to qualify for Social Security Disability Insurance (SSDI), a person must demonstrate that their disability prevents them from working or participating substantial gainful activity (SGA) and payroll taxes. However, you should look for alternative sources of income because disability benefits may not be enough to cover all of your expenses. In addition, to be eligible for disability benefits, a person must meet Social Security’s definition of disability, which includes being in imminent danger of death or unable to work due to a serious medical condition that has affected them for more than 12 months.

It is also essential to note that, in addition to SSDI benefitssome beneficiaries may qualify for Social Security payments from the SSI program. Although the goals of these two programs differ, many people who meet the strict criteria can qualify for both. It is important to note that recipients who wish to apply do not need to submit two separate applications; however, your monthly income cannot exceed the SSI payment amount.

When will retired workers and people with disabilities receive their Social Security contributions?

According to the Social Security payment schedule by 2024, retired workers and people with disabilities will receive the remaining two installments of Social Security on Wednesday, September 18 and 25. It is important to note that in order to receive these benefits, recipients must first meet several requirements, such as claiming benefits within the full retirement age criteria, demonstrating sufficient Social Security credits, having paid payroll taxes, and proving their disability with medical records, specifically. for those who have applied for the Social Security Disability Insurance (SSDI) program. Below you will find all payment amounts available to retired workers and people with disabilities under the SSA guidelines for this year:

Note that in addition to retirement and disability benefits, the Social Security Administration (SSA) pays monthly deposits to survivors. In this case, the amount of the payment will be determined by the circumstances of the deceased beneficiary. As noted above, survivors may also be eligible for additional benefits based on the number of children they have. Beneficiaries should be aware that applying for Social Security benefits can be a complicated procedure. Therefore, it is always best to consult with a financial advisor or Social Security expert about the requirements and your circumstances.