$1,900 Social Security payments on May 15: Who will receive them?
The Social Security Administration continues to send out this month’s payments. Here are the beneficiaries who’ll receive their money on Wednesday, May 15.
The Social Security Administration (SSA) continues to send payments to retired workers and survivors of deceased contributors, as well as Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) for the month of May.
The SSA has already sent the first three payments of the month, while on Wednesday, May 15, the agency will send one more. Here are the beneficiaries who will receive it and how much the payment will be.
Who receives their Social Security payment on May 15?
On May 1, the SSA sent the payment for Supplemental Security Income recipients. Then on May 3, the agency sent money to beneficiaries who began receiving their retirement payments before May 1997.
On Wednesday, May 8, the SSA sent the payments of the beneficiaries who were born between the first day and the 10th. As for the next payments scheduled on Wednesday, May 15, the benefits will be sent to people with a date of birth between the 11th and the 20th.
The rest of May payments are sent on the following dates:
- Wednesday, May 22: Beneficiaries with a date of birth between the 21st and the 31st
- Friday, May 31: SSI beneficiaries (payment corresponding to June)
In May, the SSA sends two Supplemental Security Income payments. This is because June 1 falls on a Saturday and the payment corresponding to that month is sent forward to Friday, May 31.
Social Security and SSI payments are sent via direct deposit to beneficiaries who have provided bank account details to SSA. The rest of the benefits are sent in a check via postal mail, which takes longer to arrive.
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Social Security: How much money is sent each month to retirees?
Thanks to the cost of living adjustment (COLA), average payments for retired workers rose to just over $1,900. Other Social Security payments remain as follows for 2024 after the 3.2% COLA increase.
- Surviving spouse with two children: $3,540 to $3,653
- Single elderly surviving spouse: $1,718 to $1,773
- Worker with a disability, his or her spouse, and one or more children: from $2,636 to $2,720
- Supplemental Security Income (SSI): $943 for individuals and $1,415 for couples.
- All workers with a disability: from $1,489 to $1,537
It is important to remember that these are only approximate amounts, since the exact amount varies from one beneficiary to another depending on their situation, income and other factors.
Meanwhile, the maximum benefits for various retirement ages are as follows:
- 62 years: $2,710
- 65 years: $3,426
- 66 years: $3,652
- 67 years: $3,822
- 70 years: $4,873