Social Security update: First of two SSI checks in December totaling $1,755 to arrive in one day
Supplemental Security Income b eneficiaries are one day away from the first of two payments to be distributed in December because of a scheduling quirk, with the checks being worth a combined total of $1,755.
The first payment will be sent out to eligible recipients by Dec. 1, with the next payment being delivered on Dec. 30.
The Social Security Administration issues monthly SSI checks the business day prior to months that begin on a weekend or holiday to ensure beneficiaries have the check by the first of the month, according to the agency.
This scheduling quirk results in recipients receiving two checks in the same calendar month multiple times a year, but recipients still only receive 12 checks for the year.
The January 2023 SSI payment will be delivered on Friday, Dec. 30, 2022, because Jan. 1, 2023, falls on a Sunday. The January payment is always delivered early because New Year's Day is a federal holiday.
In 2023, there will be four months with two payments: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October.
The first payment in December will be set at 2022 rates, but the second payment in the month, which is technically the January check, will be at 2023 rates set by the Social Security Administration. The increases are part of the yearly cost-of-living adjustments to make sure Social Security payments keep pace with inflation.
For individuals, the rate for 2022 payments is $841, while 2023 payments will be $914 per month. The rate for eligible couples for monthly payments in 2022 is $1,261, and the rate for 2023 is set at $1,371.
Essential persons, people who live with someone receiving SSI and provide them with necessary care, have a monthly payment rate of $421 for 2022 and will have a rate of $458 in 2023.
The Social Security Administration first issued SSI payments in January 1974, with payment rates increasing on pace with inflation for cost-of-living adjustments since 1975, per the agency.