NMW: Understanding the Social Security Payment Schedule Changes

NMW: Calendar Quirks Affecting Social Security Payments

In September, over 7 million Supplemental Security Income (SSI) beneficiaries will not receive their checks due to a calendar quirk. Typically, checks are issued on the 1st of every month. However, this schedule is disrupted when payday coincides with a weekend or holiday.

Payment Adjustments Explained

According to the Social Security Administration, payments are made on the preceding business day in such cases. In this instance, September 1 falls on a Sunday, resulting in payments being sent out on Friday, August 30. While this might require some slight budget adjustments, recipients can rest assured they won’t miss out on their SSI payments.

Upcoming Payment Month Challenges

November presents another challenge for SSI recipients as they will receive payments for that month and December within the same 30-day span. Regular Social Security beneficiaries remain largely unaffected by these changes in August and September.

• For those receiving Social Security payments on the 3rd day of the month, August 3 is a Saturday. Therefore, payments were issued on Friday, August 2.
• November payments for these recipients will also arrive earlier, on Friday, November 1, instead of Sunday, November 3.

The SSI program was created in 1974 to provide essential support to vulnerable individuals. Understanding the payment schedule is crucial for budgeting and overall financial planning.