SSI Recipients Will Get Two Checks in November — But It's Not What You Think
Retired Americans will also see a 2.5% cost-of-living adjustment.
Published Oct. 20 2024, 11:45 a.m. ET
Social Security recipients will be getting an extra check in their mailbox in November — but it's not what you think.
Supplemental Security Income recipients usually receive their checks on the first of the month. However, this year, an extra check will also come at the end of the month.
Why are SSI recipients receiving two checks in November 2024?
Well, it turns out that the way the days fall on the calendar will have SSI recipients receiving two checks in November. Since checks can't be mailed out on a holiday or weekend day, along with a check being delivered on Nov. 1, a check will also be arriving on Nov. 29 since Dec. 1 falls on a Sunday.
SSI reciepients will be receiving their check earlier until March 2025.
This "quirk" will continue until March 2025, due to the fact that each first of the month until then falls on a holiday or weekend.
So, January checks will be delivered on Dec. 31, February checks will arrive on Jan. 31, and March checks will also be early, coming on Feb. 28.
According to CNBC, retired Americans will also see a 2.5% cost-of-living adjustment for benefit payments in 2025.
This comes as it was reported that Social Security is expected to run short on funds by 2035.
"This year’s report is a measure of good news for the millions of Americans who depend on Social Security, including the roughly 50% of seniors for whom Social Security is the difference between poverty and living in dignity — any potential benefit reduction event has been pushed off from 2034 to 2035," Social Security Commissioner Martin O’Malley said in a statement.
"Eliminating the shortfall will bring peace of mind to Social Security’s 70 million-plus beneficiaries, the 180 million workers and their families who contribute to Social Security, and the entire nation."