There are only 12 days left before Social Security retirement recipients receive their monthly payment of up to $4,194.
The amount that recipients will receive from these checks will vary based on several factors, including when a recipient chose to retire and start receiving Social Security benefits. A person must have retired when he or she was 70 to receive the highest payment of $4,194. Recipients who retired at 67 will receive a maximum check of $3,345, and anyone who retired at 62 will get up to $2,364, according to the Social Security Administration.
Retirement payments for other recipients will follow later on in February. Recipients who were born between the 11th and 20th of a month will receive their payment on Feb. 15, with people born between the 21st and 31st of a month getting paid on Feb. 22.Regular Social Security payments are based on earnings that a recipient makes throughout his or her lifetime and do not have any limits based on income or resources.
Analysts estimate that unless Congress takes action soon, Social Security insolvency may occur as early as 2034. One reason for the looming insolvency crisis is that more people are living longer thanks to advancements in science and medication, allowing them to take part in Social Security benefits longer than expected. Additionally, the number of people working and paying taxes to support these benefits is gradually decreasing, according to the Committee for a Responsible Federal Budget.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Social Security update: First payments for February worth up to $4,194 arriving in 13 daysSelect recipients of Social Security retirement money only need to wait a little less than two weeks before they receive their monthly payment of up to $4,194 next month.
Read more »
Social Security update: Direct SSI payment worth $914 to arrive in five daysIn less than a week, Supplemental Security Income beneficiaries will receive their monthly payments worth $914.
Read more »
McCarthy agrees not to cut Medicare, Social Security in debt ceiling talks: reportKevin McCarthy reportedly agrees to leave cuts to Social Security and Medicare off the table in debt ceiling negotiations
Read more »
White House claims GOP pushing Social Security cuts after McCarthy rules it outHouse Republican leadership says the social safety-net programs are not on the table.
Read more »
Manchin claims McCarthy said Social Security and Medicare cuts are off the tableHouse Speaker Kevin McCarthy (R-CA) privately agreed that cuts to Medicare and Social Security are off the table when it comes to raising the debt ceiling, Sen. Joe Manchin (D-WV) told reporters Wednesday.
Read more »
Why would Republicans rule out Social Security and Medicare reform?The GOP’s transformation into the party of big and fiscally reckless government is proceeding apace.
Read more »