Supplemental Security Income recipients are set to receive their second $841 regular payment this month in just four days due to a scheduling quirk with payments that happens several times a year.
Recipients of SSI will get their regular October payments on Friday because Oct. 1 falls on a Saturday this year. Because of this, eligible people will receive two payments within the same calendar month for a total of $1,682 in checks.
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Couples who are eligible for SSI will receive two payments of $1,261 this calendar month for a total of $2,522.
Essential persons, or people who live with those receiving SSI and give them necessary care, will get two checks of $421 this calendar month, with the second check arriving Sept. 30.
All SSI recipients received their regular payment for September on Sept. 1, as payments are issued by the Social Security Administration on the first of each month. When the first of the month falls on a holiday or weekend, payments are issued on the last weekday before the first of the next month, according to the SSA.
The scheduling oddity happens several times a year, with it occurring for the January, May, and October payments for 2022. With the oddity, SSI recipients are receiving next month’s payment in a few days, meaning they still receive 12 payments a year, with one for each month.
Supplemental Security Income was first distributed to eligible people by the Social Security Administration in January 1974. The size of the checks has increased to account for cost-of-living adjustments since 1975, usually being consistent with year-to-year inflation, per the agency.
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Regular payments for Social Security are expected to increase next year to stay on pace with inflation, with some analysts predicting the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more. The projected increase could move recipients of regular Social Security payments into higher tax brackets.
Some analysts estimate Social Security insolvency will occur as early as 2034 unless acted upon by Congress.
