About 60 million American retirees are paid the Social Security retirement benefits every month. However, due to the number of people involved and the amount of money being sent out, not all retirees receive their money at the same time. Hence, Social Security payments are made in three phases based on the birth dates of the retirees.
For July, retirees in the first phase have received their payment already while those in the second phase will be getting their money on Wednesday, July 17th. Although the benefits will be sent tomorrow, it is advised to wait 72 hours before sending any complaints if you don’t receive your benefits.
When does the check arrive?
Social Security payments typically begin on the second Wednesday of every month, and subsequent weeks follow suit. The date on which you receive your benefits or the day the payment is being distributed depends on which day of the month you were born.
Retirees born between the 1st and 10th of a month received their payments on July 10. Beneficiaries born between the 11th and 20th of a month will get their checks on July 17, and retirees born on or after the 21st of a month will receive their payments on July 24.
Who will be paid $4,873 in the second phase?
$4,873 will be paid to retirees who filed for their retirement benefits at age 70. This is the maximum age to file for retirement benefits, and retirees who file at this age enjoy the highest benefits.
Although all eligible retirees scheduled to be paid on July 17 will receive their benefits, the amount distributed will differ per person, depending on the age at which you filed for retirement benefits.
Early retirees who filed at 62 will receive $2,710 in benefits.
Retirees who filed at the full retirement age can get different payments depending on birth year—the full retirement age is 66 if you were born from 1943 to 1954, and increases gradually if you were born from 1955 to 1960.
However, the maximum benefit for retirees at age 70 is predicted to increase due to the Cost of Living Adjustment (COLA). Retirees who filed for their benefits at age 70 are the only beneficiaries to receive $4,873 as retirement benefits in the second batch of July payments.
