The second of March’s three Social Security payments, worth up to $4,873 for the biggest earners who retire at 70, will go out to its group of retirees in just under a week.
Retirees born on or between the 11th and 20th of a month will get their payments on Wednesday, according to the Social Security Administration calendar.
The maximum amount beneficiaries can receive depends on certain factors, such as the amount they paid into Social Security, the number of years they paid into the program, and their age of retirement, which is the biggest factor.
The highest amount a senior who retires at 70 can get is $4,873 per month. Those who retire at the full retirement age of 67 have a maximum benefit of $3,822 per month, according to the SSA.
Those who retire at the youngest age possible, 62, can only receive up to $2,710 a month.
People born on or after the 20th of a month will receive their payments on March 27, while those born on or before the 10th of a month just received theirs Wednesday.
Recipients get just one paycheck each per month, but the week that they get their money is determined by the day of the month they were born.
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The 2024 payments include a 3.2% increase compared to the monthly payments last year, which is part of the annual cost-of-living adjustment.
A more personalized estimate of what each person can expect each month can be found via the SSA calculator.
