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Social Security checks and COLA adjusted payments for March coming this week

  • / Updated:
  • Digital Team 

March Social Security payments are poised for distribution this week, marking another cycle of financial support for eligible Americans.

SSI Checks

Those beneficiaries born between the first and the 10th of any month are set to receive their payments on Wednesday. This includes individuals receiving Supplemental Security Income (SSI), those who are dual beneficiaries of Social Security and SSI, and recipients who commenced receiving Social Security payments before May 1997, who should have already received their checks at the beginning of the month.

With this year’s cost-of-living adjustment (COLA) pegged at 3.2%, recent data from the Social Security Administration indicates that the average monthly payment for all beneficiaries stands at approximately $1,770. Specifically, the average monthly retirement benefit has reached around $1,909.

Understanding SSI Payment Schedule

For those concerned about the timing of their March Social Security payments, it’s crucial to understand the distribution schedule. Typically, Social Security payments are disbursed on the third of each month, while SSI payments are issued on the first for eligible recipients. However, this year, since the third of March coincided with a Sunday, all payments were distributed on the preceding Friday.

Individuals who solely receive Social Security benefits and were not beneficiaries before May 1997 can anticipate payment based on their birthdate. Those born between the 1st and the 10th of any given month will receive their payments on March 13, this Wednesday.

Payments for beneficiaries with birthdays between the 11th and the 20th of the month are slated for March 20, while those with birthdays from the 21st to the 31st can expect payments on March 27.

Contacting the Social Security Administration

In case of any concerns regarding the arrival of Social Security checks, recipients are advised to wait three business days before contacting the Social Security Administration. The agency can be reached on weekdays between 8 a.m. and 7 p.m. at 1-800-772-1213. Alternatively, beneficiaries can monitor their payment status by accessing their online Social Security accounts under “Benefits & Payments.”

Upcoming Social Security Payments

Looking ahead, it’s essential to understand the payment schedule for the remainder of the year. Typically, Social Security payments are distributed on the second, third, and fourth Wednesday of each month, depending on the recipient’s birthdate. For SSI beneficiaries, payments are usually made on the first of the month, unless it falls on a weekend or federal holiday, in which case payments are moved to the preceding business day.

Understanding How SSI Benefits Are Calculated

Understanding the calculation of Social Security benefits is also crucial. Your benefit is determined by your average indexed monthly earnings over the 35 years of highest income, with the Social Security Administration applying a formula to ascertain your primary insurance amount (PIA). Recipients can access their earnings history and calculate their benefits by logging into their online Social Security accounts on the SSA’s website, where digital benefits calculators and other tools are available to assist in navigating benefits.

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