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Millions of Social Security recipients will receive their second round of retirement checks for the month of December in six days.
Filers who retire at 70 years old by Dec. 11 will receive payments worth up to $4,873 per check. The checks will go out to Social Security beneficiaries who were born from the 1st through the 10th of a month.
Social Security payments are based on the earnings throughout a retiree’s life and have no limits based on income, but the amount each check is worth depends on the age when a person retires. Citizens are eligible for Social Security beginning at 62 years old but can earn more by waiting until later to retire.
The monthly payment schedule for regular Social Security checks has three waves, all occurring on Wednesdays — or a Tuesday if a Wednesday is a federal holiday.
The distribution of payments is divided by the days of the month a recipient was born, and there are three waves, with Wednesday’s payment being the first wave. The second wave of payments will be sent out on Dec. 18 to those born on the 11th through the 20th of a month. The third wave of checks will be sent out Tuesday, Dec. 24, because Wednesday, Dec. 25, is a federal holiday for those born on the 21st through the 31st of a month.
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Those who retire at age 67 receive a maximum check of $3,822, while those who retire at 62 years old get up to $2,710, and those who delay their retirement to age 70 get the largest payment of $4,873 per month, according to the Social Security Administration.
The monthly Social Security payments are different from other checks given out by the SSA, such as disability insurance or Supplemental Security Income, which are sent out on a different schedule. SSI payments are sent to recipients by the beginning of each month to those with debilitating disabilities that may affect their income.