A rare circumstance will materialize next month for some Americans. Those who qualify for the Supplemental Social Security (SSI) benefit will receive two checks next month: One at the beginning of May and a second at the end of May. The double Social Security payments do not represent a bonus but rather a “scheduling quirk.”
According to Quartz, SSI payments are typically . However, June 1 of this year happens to land on a Saturday. To accommodate this situation, the Social Security Administration will send out funds on Friday, May 31. In other words, the upcoming two Social Security payments reflect a forward payment, not an additional one.
SSI is a different vehicle compared to the retirement and disability insurance benefit that people commonly associate with the Social Security Administration. To qualify, recipients usually must have “little income, few assets, and a disability,” per Quartz.
Those receiving SSI should note that there will be additional scheduling quirks for payments this year. Technically, two checks will be issued in both August and November. A similar situation will also occur in early 2025.
Social Security Payments Emphasize Household Hardships
Ordinarily, the idea of two Social Security payments might not make much news. If anything, it’s a situation akin to robbing Peter to pay Paul. That is, while qualified households will receive two SSI checks in May, this also means there will technically be no checks issued in June.
However, the matter may be taking the spotlight because it emphasizes the hardships facing many U.S. households. As Fox Business reports, retirees received a . Unfortunately, that hasn’t been enough to counter the gradual rise in consumer prices.
According to a by Atticus, about 62% of seniors collecting Social Security payments expressed dissatisfaction with the aforementioned adjustment, which amounted to a 3.2% payment increase in 2024-issued checks.
Further, nearly three in five seniors disclosed that they’re struggling to get by as basic necessities like food and healthcare have risen. Reportedly 20% of seniors receiving Social Security payments “plan to seek employment this year due to the small increase,” according to Fox Business.
On the date of publication, Josh Enomoto did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the 香港六合彩玄机.com Publishing Guidelines.
