Beneficiaries of Supplemental Security Income are set to receive their regular $841 monthly payments today.
Couples who are eligible for SSI will receive their monthly payments of $1,261 on Nov. 1, with essential persons, or those who live with people receiving SSI and give them necessary care, set to receive their payments of $421 at the beginning of next month as well.
The Social Security Administration sends out SSI payments on the first day 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.
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Scheduling quirks occur for the January, May, and October payments this year, and beneficiaries will receive two of their 12 payments for the year in the same calendar month.
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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.
Estimates by some analysts say that Social Security insolvency will occur in 2034 at the earliest unless acted on by Congress.
