February 14th Social Security Payments: Who Qualifies for $1,900?

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In January, the average Social Security check received by retirees was $1,909.01, which is 4.4 percent higher compared to the amount from one year ago. The value of payments received a boost from the 3.2 percent Cost-of-living adjustment (COLA), along with the increased average salaries of retirees who started claiming benefits in the past year. Although the average payment is slightly above $1,900, the majority of beneficiaries do not receive a check of this magnitude. In 2022, the average check size was $1,590, and only individuals in the top quartile received payments exceeding $1,900.

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Who will be receiving a payment on 14 February?

Already this month, the Social Secuirty Adminstration (SSA) has delivered payments to:

  • Supplemental Security Income (SSI)
  • Those with have been receiving Social Security benefits since before May 1997
  • Those who receive Social Security and Supplemental Security Income

The Social Security Administration has confirmed that payments will be distributed on Wednesday, 14 February. Individuals whose birthdays fall between the 1st and the 10th of any given month. The two remaining payments that will be made after the 14th will be sent to individuals whose birthdays fall between the 11th and 20th on Wednesday, 21 February, and to those with birthdays between the 21st and the 31st on Wednesday, 28 February.

Beneficiaries are strongly encouraged to utilize the SSA’s online services in order to have greater control over their benefits.

The agency has recently published a blog highlighting the importance of creating a my Social Security account, which allows individuals to access their monthly benefit statement. These accounts are available to both retirees and individuals who intend to claim benefits in the future. The portal allows users to calculate the value of their checks upon retirement.

 

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