Who will receive $1,800 from Social Security on January 3?

The date on which retired workers receive their monthly payment depends on their day of birth, while SSI benefits are distributed on the first of each month.

Retirees who were born between the 1st and 10th receive the money on the second Wednesday of the month, while those who were born between the 10th and the 11th get their check on the third Wednesday. Those whose birth dates fall from the 11th to the 31st can expect their benefits on the last Wednesday of the month.

This payment schedule only applies to those who requested their retirement after May 1997. Workers who retired before this date receive the payment on the third day of the month, regardless of their day of birth. These will be the people receiving their payment tomorrow.

Therefore, the people who will receive an average payment of $1,800 on 3 January are those who retired before May 1997, or those receiving both Social Security or Supplemental Security Income (SSI). Only Social Security payments will be sent on 3 January.

How much will your payments increase this year?

With the 3.2% increase, the average payment of a retired worker for 2024 will increase by approximately $57, which leaves the checks for next year at an average of $1,885.

This is only an approximate amount, which means that the exact number varies depending on the personal situation of each beneficiary. Here is a simple formula with which you can calculate the increase in your payments for 2024: multiply the figure of your current benefits by 1.032.