By Raul Rodriguez Cota
25 Jul 2024, 11:32 AM EDT
The Social Security Administration (SSA) announced that some retirees could receive up to $3,822 in benefit payments in August 2024.
This amount is intended for those who reach Full Retirement Age, which in 2024 is 66 years and 8 months.
Full Retirement Age (FRA) is the age at which a person can begin receiving his or her full Social Security retirement benefits without reductions.
August 2 will be the key date for several categories of beneficiaries.
Those who receive Supplemental Security Income (SSI) and retirement benefits simultaneously, as well as those who began receiving benefits before May 1997, will receive their payment on this date.
For other beneficiaries, payments will be made based on the day of birth:
–August 14 for those born between the 1st and 10th of any month of the year
–August 21 for those born between the 11th and the 20th of any month of the year
–August 28 for those born between the 21st and 31st of any month of the year
Requirements to receive $3,822 dollars
To be eligible for the maximum benefit of $3,822, citizens must have worked for 35 years and made the required contributions over those years.
Additionally, you must have applied for benefits at full retirement age and not have had any jobs not covered by the SSA.
The SSA has moved up payments from August 3 to August 2 because August 3 falls on a Saturday, when offices will be closed.
Keep reading:
– Increase in Social Security checks per COLA by 2025: The good news from the new estimate
– SSI payments: who will receive money starting August 1
– Child Tax Credit: Who can get up to $3,600