When Social Security Recipients Will Get Their Checks in July
- Dollar Scholar Asks: How Can I Catch up on Saving for Retirement?
- Social Security COLA for 2025 Could Be Over 2.6%, According to New Predictions
- Social Security COLA: Projected 2025 Payments Tick up on Latest Inflation Data
- Thousands of Social Security Recipients Will Soon Qualify for Bigger Payments
- Why Striking Workers Are Pushing to Get Pensions Back
- Do You Have $1 Million in Your 401(k) Yet? The Number of People Who Do Just Hit an All-Time High
- How Much Is an Olympic Gold Medal Worth? Less Than You'd Think
- To Lower Home Prices, Builders Are Cutting Back on… Hallways?
- 8 Things People Have Stopped Buying (and Why)
- 4 Best Extended Car Warranties of 2024
With June's quirky calendar in the rearview, the Social Security schedule is nicely aligned for July: Recipients of Supplemental Security Income should receive their checks Monday, and from there, payments will be sent four Wednesdays in a row.
Roughly 68 million Americans receive Social Security benefits every month, including almost 9 out of every 10 people age 65 and up. Social Security funds aren't just for older folks, though. Payments go out to retirees, survivors of late workers, those with little to no resources, disabled workers, the blind, dependents and more.
The average payments for those various demographics vary, but data from January shows the typical retirement benefit was $1,907.
When will I get my July Social Security payment?
Your Social Security payment date is determined by your birthday.
If you were born on the first through the 10th, you can expect to get your Social Security check on the second Wednesday of every month — in this case, July 10.
If you were born on the 11th through the 20th, you can expect to get your Social Security check on the third Wednesday of every month — in this case, July 17.
If you were born on the 21st through the 31st, you can expect to get your Social Security check on the fourth Wednesday of every month — in this case, July 24.
Those who started getting Social Security before May 1997 and those who get both Social Security and SSI benefits should receive payments this Wednesday, July 3. SSI recipients should be paid Monday, July 1.
Where is my July Social Security payment?
Check the payment schedule above.
If you think your money is missing, you can reach out to the Social Security Administration (SSA). The SSA has both local offices and a toll-free national number. The national phone number is 1-800-772-1213. Representatives are available weekdays from 8 a.m. to 7 p.m. local time. Pro tip: The agency says wait times are shortest in the morning, late in the week and late in the month.
In any case, the SSA asks that you wait three mailing days before contacting it about a missing Social Security payment.
What is the SSA payment schedule for 2024?
You can find the SSA's payment calendar on its website. It largely follows the schedule laid out above, but you should note that there will be two SSI payments in August and November due to the way the calendar is.
Usually, SSI checks go out on the first of the month. But in 2024, Sept. 1 falls on a Sunday, so the payment date has been moved to the previous business day: Aug. 30. Because SSI beneficiaries will also get their August checks as normal on Aug. 1, that means they're receiving two payments in the month of August — and none in September.
To learn more about your payment status or to get additional help with Medicare, retirement benefits, disability, SSI and more, make a "my Social Security" account for free at SSA.gov.
How do I calculate my Social Security payment?
Benefits are generally calculated according to your average indexed monthly earnings, which include up to 35 years of your highest-earning years. The SSA then applies a formula to determine your primary insurance amount.
The amount of money retirees actually receive depends partially on their age. Though you can start getting Social Security retirement payments at 62 years old, the longer you wait to claim Social Security, the higher your payments will be (until age 70).
For many Americans, this money is crucial — Social Security accounts for about 30% of the income received by folks over age 65. As people live longer and legislators wrestle over future of Social Security, the cost of retirement is surging: In 2022, federal data shows retired households spent an average of $54,975, including $11,186 on shelter, $8,065 on transportation and $7,505 on health care.
More from Money:
Social Security Recipients Could See Checks Garnished if They're Behind on Student Loans
Retirement Is Broken — Is a 'Pension Renaissance' Coming to Save Us?
Social Security COLA: Projected 2025 Payments Tick up on Latest Inflation Data