Social Security Update: Maximum monthly payment of $4,194 to reach millions in just nine days
Some recipients of Social Security benefits are set to receive their monthly retirement payments of up to $4,194 in just nine days.
The amount that recipients receive from these checks will depend on various factors. To get the maximum payout of $4,194, a person must have retired at age 70, while people who retired at age 67 can reach an ultimate check of $3,345, and someone who retired at age 62 can get up to $2,364. Dollars a month, according to the Social Security Administration.
Monthly retirement benefits are paid to beneficiaries in three installments, with all three occurring on Wednesdays and waves of payments being divided over the recipients' birthdays.
Payments issued on December 21 represent the second wave of checks and are intended for those born between the 11th and 20th of their birth months.
The first batch of checks is always sent on the second Wednesday of every month to those born on the first through the 10th of their birth month, which would be December 14. The third and final wave of monthly checks sent out this month will be for those born between the 21st and 31st of their birth months and will be sent out on December 28, according to the SSA calendar.
Regular Social Security payments are based on earnings throughout a person's life and have no limits based on income or resources. These checks differ from other fees the agency distributes, such as disability insurance or Supplemental Security Income, due to be paid to beneficiaries on December 30.
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