The second installment of July's Social Security payments, worth up to $4,555 for people who retire at 70, went out to millions of retirees on Wednesday, according to the Social Security Administration's schedule.

The second round of payments each month goes out to people born between the 11th and 20th of their birth month.

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The final round of payments will go out next week, on July 26 to those born after the 21st. The first round was distributed on Wednesday for those born between the first and 10th of the month.

The maximum amount of money every beneficiary receives differs depending on their age at retirement, the length of time they pay into the program, and how much is paid into the program. Recipients who retire at 62 get monthly installments of up to $2,572. People who retire at 67 can receive a maximum benefit of $3,627. But those who delay retirement until 70 get the highest maximum payment of up to $4,555 per month, according to the SSA.

Recipients could see a decrease in their payments in the future, though, if Congress does not agree on funding for the program before the Social Security trust runs out over the next decade.

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Discussions on how to fix the future of Social Security have occurred in Congress for years.

One proposal from House Republicans involves slowly raising the full age of retirement from 67 to 69 by 2033. But those looking to retire in the near future can take early retirement at 62, or they can wait as late as 70 to receive more money.