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NextImg:Social Security update: Final round of December payments worth up to $4,873 goes out in three days - Washington Examiner

Millions of Social Security beneficiaries will receive their December retirement checks, worth up to $4,873 per check for those who retire at 70 years old, in three days.

Social Security beneficiaries who were born between the 21st and the 31st of a month will receive their regular monthly checks for December from the Social Security Administration on Tuesday, Dec. 24, because Wednesday, Dec. 25, is a federal holiday.

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The monthly payment schedule for regular Social Security checks has three waves, all occurring on Wednesdays — or Tuesdays if a Wednesday is a federal holiday.

The distribution of payments is divided by the days of the month a recipient was born, resulting in three waves, with Tuesday’s payment being the final of this month. The first wave of payments was sent out on Dec. 11 to those born on the 1st through the 10th of a month, while the second wave of payments went out on Dec. 18 to those born between the 11th and the 20th of a month.

Social Security payments are based on the earnings retirees make throughout their lives and have no limits based on income. However, the amount each check is worth is dependent on the age at which a person retires. Citizens are eligible for Social Security beginning at 62 but can earn more by waiting until later to retire.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Those who retire at 67 receive a maximum check of $3,822, while those who retire at 62 get up to $2,710, and those who delay their retirement to 70 get the largest payment of $4,873 per month, per 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.