The second round of direct social security payments was disbursed to retirees born between the 11th and 20th of a month Wednesday.
The second round of direct social security payments was disbursed to retirees born between the 11th and 20th of a month Wednesday.
Social security payments are sent in three waves correlating with the day of a month that someone was born. The first round of payments, worth up to $4,555, was released on Feb. 8, according to the Social Security Administration's calendar. It went to people born between the 1st and 10th of the month.The final round, for those born between the 21st and 31st of a month, will be paid out in one week, on Feb. 22.
The amount of money people receive is determined by their age at retirement. The payment increases the longer the retiree waits, with the cap being $4,555 for people who retire at 70. The maximum payment for those who retire at 62 is $2,572.The amount retirees receive in social security is subject to change, or even decrease, if Congress does not figure out proper funding by 2034 because of a rising number of retirees and shrinking number of workers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Social Security update: Second direct payment worth up to $4,555 for February arrives WednesdayThe second round of direct social security payments will be disbursed to millions of retirees on Wednesday, marking the payment for those who were born between the 11th and 20th of a month.
Read more »
Sanders-Warren Plan Would Tax the Rich to Increase Social Security by $2,400 a Year'Right now, a Wall Street CEO who makes $30 million pays the same amount into Social Security as someone who makes $160,000 a year,' said Sen. Bernie Sanders. 'Our bill puts an end to that absurdity.'
Read more »
What Biden’s not saying about Social Security and MedicareBiden is glossing over a giant looming problem with both programs, which is that they’re unsustainably expensive and the single-largest financial problem the US government faces.
Read more »
Biden White House touts GOP 'receipts' on Social Security cutsBiden's State of the Union address was just the start of Democrats' strategy of seizing on years of Republican efforts to restructure or decrease long-term spending on Social Security and Medicare.
Read more »
Biden and Trump converge - Why left and right sound similar on Social SecurityWhile conservatives believe President Biden is hijacking the MAGA agenda, the reality is that there’s a convergence between right and left on some issues.
Read more »