A selection of Social Security payments worth up to $4,873 will be paid this week.
About 68 million Americans receive some form of Social Security benefit each month.
Total payments, including retirement, disability and survivors benefits, now cost the government about $1.5 trillion a year.
Payments tend to be staggered throughout the month due to the large number of people receiving checks.
Two groups of Americans can expect to receive their payments in the first week of September.
Some retirement payments will arrive in the first week of September
For those who have been claiming Social Security since 1997, or claim both retirement benefits and Supplemental Security Income (SSI), these were paid yesterday, September 3.
The highest retirement payments are as high as $4,873, although the figure is likely to be lower for most beneficiaries.
In fact, the average monthly retirement check is $1,907, a figure that takes into account the 35 highest-earning years of a recipient’s career and is adjusted for inflation.
“The maximum benefit depends on the age at which you retire. For example, if you retire at full retirement age in 2024, your maximum benefit would be $3,822,” the SSA says on its website.
‘However, if you retire at age 62 in 2024, your maximum benefit would be $2,710.
“If you retire at age 70 in 2024, your maximum benefit would be $4,873,” the site explains.
Those who receive only SSI benefits, not retirement, should have received their checks on Aug. 30, since the usual payday, the 1st of each month, fell on a weekend.
The highest SSI payment that can currently be claimed for an individual is $943 and $1,415 for a couple.
The remaining beneficiaries will begin receiving their payments starting next week, depending on their date of birth.
Other benefits will be paid according to the beneficiary’s date of birth.
If you were born between the 1st and 10th of any month, you will receive your monthly check on September 11.
Applicants with birthdays between the 11th and 20th of any given month will receive their payments the following week, on September 18.
The last group, whose birthdays fall between the 21st and 31st of the month, will receive their benefits on September 25.
The SSA recommends waiting three business days after the due date before contacting them about a late payment.
