A stimulus check will be sent out this Friday, will you still get it if you collect social security?
Millions of people are benefitting from the latest round of stimulus checks being sent out as part of the Golden State Stimulus II program.
However, not everyone qualifies to get a check.
Many individuals on fixed income will not benefit from this round of payments being sent to California residents.
If I’m on social security will I get another stimulus check from the state?
The state has said some may get a check but others will not.
Nine million checks are expected to be paid out by the end of 2021, with 5.65 million already sent and 3.35 million left to go.
The checks are just a piece of what is called the California Comeback Plan worth $100 billion dollars and designed to help businesses and families struggling from the pandemic.
Two thirds of residents in California are eligible for the payments which started in August.
The state calculates a person’s AGI to decide if they’re eligible, and their AGI needs to be between $1 and $75,000.
Social security is not counted towards an AGI though.
If a person has taxable interest on a savings account as well as SSI, the taxed interest allows for them to qualify.
If SSI is the only form of income a person has, they do not qualify even if meeting eligibility requirements.
Basically, if a person collecting social security can claim at least $1 in AGI, they will qualify to get a check.
Want the latest headlines in your inbox each morning? Click here to sign up for our Morning Edition newsletter to get caught up in 60 seconds. You can also download the FingerLakes1.com App for Android (All Android Devices) or iOS (iPhone, iPad)