Soon, the final round of the Social Security Administration's retirement payments for February, worth up to $4,555, will be issued to recipients born between the 21st and 31st of a month.

The set of payments, which will be paid out Wednesday, is the last of three waves. Each wave coincided with the 10-day block of the month that the person was born in. For example, the first round of payments was released on Feb. 8 and went to people born between the 1st and 10th of a month.

The second round, for those born between the 11th and 20th of a month, was sent out a week later on Feb. 15.

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The amount recipients receive from these payments depends on when they decide to retire and start receiving the benefits. The highest payment goes to people who retire at the latest age of 70. Recipients who retired at 67 will receive a maximum check of $3,627, and anyone who retired at 62 will get up to $2,572, according to the SSA.

Regular Social Security payments are based on earnings that a recipient makes throughout his or her lifetime and do not have any limits based on income or resources. But the retirement payments from the SSA are different from other payments distributed by the agency, such as disability insurance or Supplemental Security Income.

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The amount of money retirees receive in Social Security is subject to change, and it may even decrease if Congress does not figure out how it will be properly funded by 2034.

Advancements in science and medication that allow retirees to take part in Social Security benefits longer than expected play a role in the program's funding problem.