Supplemental Security Income beneficiaries are set to receive their $841 monthly payments in only three days.
Couples who are eligible for SSI will receive their regular payments of $1,261 on Nov. 1. Essential persons, or those who live with people receiving SSI and give them necessary care, will receive payments of $421 at the beginning of next month.
BIDEN TAKES SHOT AT RECESSION ‘DOOMSAYERS’ ON HEELS OF POSITIVE GDP REPORT
SSI payments were first issued to eligible individuals and couples by the Social Security Administration in January 1974. To combat year-to-year inflation, the size of payment has increased for cost-of-living adjustments since 1975, per the agency.
The Social Security Administration sends out SSI payments on the first of each month, but when that day falls on a holiday or weekend, payments are issued on the last weekday before the first of the next month, according to the agency. Scheduling quirks occur for the January, May, and October payments this year, and beneficiaries will receive two of their monthly payments in the same calendar month.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Some estimates say Social Security insolvency will occur in 2034 at the earliest unless acted on by Congress.
