The first of two September payments from the federal Supplemental Security Income program, worth up to $914 for individual filers, will go out to recipients in 18 days, according to the Social Security Administration's calendar.
The monthly installment will be disbursed Friday, Sept. 1, and it is the first of two payments for the month. The second payment in September will replace October's check, and it will go out Friday, Sept. 29, because Sept. 30 and Oct. 1 are on a weekend this year. The double payment is the result of a scheduling kink in the administration's policy.
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The amount of money that beneficiaries receive depends on how they apply for the benefits. Eligible couples can receive the highest amount of up to $1,371 every month. Those who file independently can 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.
Recipients usually get one payment each month, but in four months this year, the beneficiaries get two checks because of a quirk in the administration's schedule. Recipients will get two checks in March, June, September, and December this year. This is because the first of the month falls on a weekend in April, July, and October, and Jan. 1 is always a holiday.
The adjusted schedule ensures that beneficiaries still get 12 checks per year because there are no payments in April, July, October, or January.
In order to qualify for the Supplemental Security Income 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 if they are blind or if they have a physical or mental condition that seriously limits their daily activities for at least a year or is expected to result in death, and their parents have limited income or savings.
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The SSI payments are separate from regular Social Security retirement payments, which have a minimum age of 62 in order to receive.
SSI payments were first issued by the administration in January of 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.