The Social Security Administration is a federal organization responsible for administering monthly Social Security payments to millions of retirees, survivors, disabled Americans, and low-income seniors who qualify for various programs. Within a few hours, eligible recipients of Retirement, Survivorship and Disability Insurance (RSDI) benefits will receive different payment amounts based on their full retirement age, work history and Social Security contributions. Among the available monthly payments, retirees can receive a maximum check of $4,873. Remember, these monthly payments already include the 3.2% cost of living adjustment (COLA) increase that was granted last year.
Many families fear for their financial stability when their main source of income suddenly leaves. The Retirement, Survivors, and Disability Insurance (RSDI) program, supported by the government, provides income to eligible individuals and families. RSDI benefits may help you replace lost income if an accident prevents you from returning to work after retirement. If a family member dies and receives income or benefits due to a disability, RSDI benefits may also be available.
Retirees will receive their Social Security payments for October within hours
Based on the SSA’s Social Security payment schedule, all retired workers who received their first monthly benefits after May 1997 and were born between the 11th and 20th will receive an additional deposit today. Because the Social Security Administration must deliver millions of payments, it uses a staggered payment technique based on the beneficiary’s date of birth. For example, this month’s retirees will receive their benefits on the following days:
October 9 (second Wednesday). On this day, the Social Security Administration (SSA) typically delivers monthly payments to retired Americans whose birth dates fall between October 1 and October 10. October 20, 23 (4th Wednesday): On this day, the SSA typically delivers monthly payments to retired Americans whose birth dates fall between the 21st and 31st
Depending on the program they qualify for, beneficiaries receive varying amounts based on several criteria. For example, full retirement age (FRA), employment history, and plan contributions made over the previous 35 years will be taken into account when determining a retired worker’s monthly payment. In addition, the amount the surviving spouses receive varies based on how many surviving children they have or if they are single. The Social Security benefits that will be available to retired workers and survivors in 2024 are listed below, based on Social Security payment guidelines:
Social Security payments Retirement benefits Survivor benefits Average $1,900 $1,505 Other payments Age 62: $2,710
Age 67: $3,822
Age 70: $4,873
Individual: $1,773
Two children: $3,653
Other beneficiaries will also receive their Social Security payments today
Besides retired workers, there are other beneficiaries, such as survivors and the disabled, who will receive their monthly checks today. To qualify for the Survivor Assistance Program, candidates must first meet the following conditions:
When a widow or widower has reached full retirement age (and in some cases, 60 or 50), widows or widowers caring for disabled minors under the age of sixteen, and unmarried children under the age of 18 (or older, in some cases). Grandchildren, stepchildren and adopted children may also be eligible. Children with disabilities whose parents have poor income and limited resources, divorced couples who are at least 60 years old (or 50-59 if disabled) or have been married for at least ten years.
On the other hand, disabled Americans who qualify for the Social Security Disability Insurance (SSDI) program must have made Social Security contributions before becoming disabled and meet the following requirements:
Are eighteen years of age or older. They are not eligible for a Social Security payment from the retirement program. They are not working because of a health condition that is expected to last at least one year or result in death. You have not experienced rejection in the past 60 days
