People that receive payments through the Social Security Administration's Supplemental Security Income program will receive their first payment for September, worth up to $914 for individual filers, in 26 days, according to the SSA's calendar.
The monthly installment will be sent out Sept. 1, and is the first of two payments for the month, because of a scheduling kink in the administration's schedule. Recipients will receive a second payment that replaces October's monthly payment, on Friday, Sept. 29, because Sept. 30 and Oct. 1 are on a weekend this year.
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Recipients normally just get one payment each month, but there are four months this year when the beneficiaries get two checks: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October, and Jan. 1 is always a holiday. This 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. Even children can qualify under the second set of requirements if their parents have limited income or savings.
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The amount of money that beneficiaries receive each month depends on how they file for the benefits. Eligible couples can receive up to $1,371 each 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.
SSI payments were first issued in January of 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency. The COLA for 2024 is currently expected to be an approximately 3% increase based on June's numbers.