This June is bringing a surprise for some Social Security beneficiaries – they’ll see two payments in their accounts, but there’s absolutely no need to worry. The distribution schedule is a bit different this summer. Let’s learn more about this distribution and its main features.
The double payments form Social Security are for the Supplemental Security Income program, which provides support to certain Americans aged 65 and older as well as eligible adults and children with disabilities or blindness. They’ll receive their benefits on the first and last day of June.
Social Security Administration June payments
If you receive SSI, you can rest assured that you’ll get your full benefits. The Social Security Administration is just splitting the distribution into two payments this month, and skipping July. The following payment will be dispatched on August 1st, as per this year’s SSA calendar.
So when can you expect your Social Security check? Recipients of Social Security retirement, disability, and survivors’ benefits usually receive their payments on the second, third, and fourth Wednesdays of each month. This depends on your birth date. SSI payments, on the other hand, are usually sent out on the first of the month. But, if that date falls on a weekend or federal holiday, the payments are sent on the previous business day. The regular SSI payment schedule will then resume the following month.
Dates and deadlines for social security payments in June
Since July 1 falls on a Saturday this year, SSI recipients will receive their June payment on Thursday (June 1) and their July payment a bit early, on June 30. The same scenario happened in March, and SSI recipients can expect a similar double payment in September and December. Therefore, there will be no SSI payments in October or January.
If you’re someone who receives both Social Security and SSI benefits, or if you started receiving benefits before May 1997, you’ll typically receive your regular Social Security payment on the third of the month and your SSI payment on the first. In June, these Social Security benefits will be paid on Friday.
Also, any spouses or children who receive benefits from someone else’s account will be paid on the same day as the main beneficiary.
Now, you may have heard some concerns about the debt ceiling potentially causing a delay in Social Security payments. Treasury Secretary Janet Yellen had warned about a possible delay in government benefit payments if Congress and the White House don’t agree to raise the debt limit before the June 5 X-date.
In her letter to congressional leaders last week, Yellen mentioned that not raising the debt ceiling could significantly reduce government resources, especially after more than $130 billion in benefit payments to veterans, Social Security, and Medicare beneficiaries in the first two days of June. A default could leave the Treasury unable to make $92 billion in scheduled payments and transfers later in the month.
But there’s good news. Legislation that will raise the debt ceiling and prevent a default is likely to pass before the Monday deadline. So, as a beneficiary, you probably have nothing to worry about.