Social Security: Two Payments Arriving for Millions This Week
Summary
Millions of Americans will receive two Social Security payments this week as part of the June schedule from the Social Security Administration (SSA). The SSA pays benefits like Supplemental Security Income (SSI) early in the month and regular Social Security payments on various dates depending on birth dates.Key Facts
- Over 70 million Americans get Social Security benefits, including retirement, survivor, and disability payments.
- SSI payments are scheduled for June 1.
- Social Security payments for some groups will be sent on June 3, and others will receive payments on June 10, 17, or 24 based on their birth date.
- Average monthly retirement benefits were $2,071.30 in December.
- The SSA adjusts benefits yearly for inflation, called the cost-of-living adjustment (COLA).
- Early estimates suggest the 2027 COLA will be between 3.9% and 4.2%, higher than this year’s 2.8% increase.
- A higher COLA could add about $79 to $85 more per month to retirees’ benefits.
- The official COLA percentage will be announced in October.
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