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When you receive your benefit payment may depend on your birth date.
Social Security provides retirement, disability, and survivors benefits
The Social Security payment schedule is based on your birthday — except for SSI, which is paid on the 1st of every month
You can receive benefits payment through direct deposit or a prepaid card
The Social Security Administration (SSA) provides benefits for retired Americans, as well as disabled workers and individuals, spouses of workers, and widows and widowers. If you paid Social Security tax during the course of your life, you will be eligible to apply for Social Security benefits come retirement. The average Social Security benefit for retired individuals in 2019 was $1,461.
If you’re receiving Social Security, you will get your retirement or disability benefits as a lump sum payment each month. The payment dates for Social Security are set by the SSA and may be based on your birthday, depending on the type of benefit you are receiving.
Recipients of retirement benefits, spousal benefits, and disability benefits from Social Security Disability Insurance (SSDI) will receive monthly payments based their birthday:
|1st - 10th||Second Wednesday|
|11th - 20th||Third Wednesday|
|21st - 31st||Fourth Wednesday|
Supplemental Security Income (SSI) follows a different payment schedule — it’s paid on the 1st of each month. We’ll take a detailed look at the different Social Security payment schedules, including the exact payment dates for 2020.
In this article:
You can find a list of the exact payment dates below, based on your birthday.
Individuals with a disability and also have limited income and resources can get Supplemental Security Income (SSI).Most SSI recipients are also eligible for Medicaid, which provides health insurance for vulnerable, low-income Americans.
SSI benefits are paid on the 1st of every month. If the 1st is a holiday or weekend, you will receive your payment early.
This is the SSI payment schedule for 2020: *January 31
As you think about your estate plan, make sure life insurance is a part of it.
Policygenius can help you choose a policy that protects your family and fits your budget.
Social Security benefits are only paid out electronically; you will not receive a Social Security check in the mail. You can either receive a direct deposit into your bank account or opt for a prepaid debit card. When you apply to receive your Social Security benefits, you will have the chance to provide your account number and the routing number of your bank or credit union.
You may have to pay taxes on your Social Security benefit, depending on your income level. If your retirement income is over a certain amount, then part of your Social Security benefits may be taxable.
Single-filers with an income between $25,000 and $34,000 will have to pay income tax on up to 50% of their benefits. If they make more than $34,000, then up to 85% of the benefits may be taxable.
Married individuals who file jointly may have to pay income tax on 50% of the benefits if their income is between $32,000 and $44,000. They will have to pay taxes on up to 85% of the benefit if they make more than $44,000.
Keep this in mind when filing your tax return. You may also be able to withhold your taxes from your Social Security benefits payments, so you aren’t stuck with a large tax bill on Tax Day. Check your SSA account online or visit your local Social Security office for more information.
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