The first wave of payments from the Supplemental Security Income program for September, worth up to $914 for individual filers, will go out to recipients in 11 days, according to the Social Security Administration's calendar.
The first of the two payments for the month will be sent out Friday, Sept. 1. The second payment in September will go out four weeks later on Friday, Sept. 29, because Sept. 30 and Oct. 1 are part of a weekend this year. The second check will replace October's payment and is the result of a scheduling quirk in the administration's schedule.
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Recipients normally just receive one payment each month, but beneficiaries get two checks in four months this year. The months are March, June, September, and December because the first of the month is on a weekend in April, July, and October, and Jan. 1 is always a holiday. Therefore, recipients get no payments in April, July, or October this year or in January 2024.
To qualify for the Supplemental Security program, a person has to be over 65 and meet specific financial requirements. Those under 65 could also qualify if they are at least partially blind or have a physical or mental condition that seriously limits their daily activities for at least one year or is expected to result in death.
Children can also qualify for the payments in the second group if their parents or legal guardians have limited income or savings.
The amount of money beneficiaries receive depends on the category they used to apply for the benefits. Married couples that are eligible can receive the highest amount of up to $1,371 every month. People who file independently see as much as $914 every month, and essential people who live with and care for people receiving SSI payments get a monthly payment of up to $458, according to the SSA. But not every recipient receives the maximum payout.
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SSI payments were first issued by the administration in January 1974, and payment rates have increased for annual cost-of-living adjustments since 1975, according to the agency. The COLA increase for 2024 is currently projected to be approximately 3% based on June's numbers, but the exact increase will not be released until Oct. 12. The projected number is significantly lower than last year's adjustment of 8%.
The SSI payments are separate from regular retirement payments issued by the Social Security Administration, which have a minimum age of 62 to receive.