Double Social Security Payout in May: Rare Event Explained

Clear Facts

• Some Americans will receive a second Social Security payment in May due to June 1 falling on a Saturday.
• This uncommon event is a result of the system’s design, whereby checks are generally sent out on the first of the month unless it coincides with a weekend or holiday.
• It is not an extra payment, but rather an early disbursement for the subsequent month, providing necessary assistance for disabled people and older Americans with low incomes.

Breaking from the usual schedule, a portion of Americans will see a second Social Security payment this May. This deviation from the typical single Supplemental Social Security (SSI) monthly payment is due a specific feature in the system’s scheduling.

Ordinarily, the Social Security Administration issues just one SSI payment each month. The payment typically arrives on the first day of any given month, unless it falls on a weekend or holiday.

“Because June 1 falls on a Saturday, SSI recipients will receive two payments in the month of May. The first check is scheduled to arrive on May 1, while the second check will come on May 31.”

This distribution is vital for supporting disabled individuals and older Americans with low incomes. However, it should be emphasized that this second payment is not extra income.

“These consecutive deposits do not indicate retirees are receiving extra money – it’s merely an early payment for the following month.”

Interestingly, this same situation is projected to happen twice more in 2022, during the months of August and November. This is according to the payment schedule available on the Social Security Administration’s website.

Despite a modest cost-of-living adjustment this year, many retirees are still dealing with financial struggles. High inflation rates have significantly impacted their purchasing power, causing considerable distress.

“A recent survey found that a substantial percentage of seniors collecting Social Security – about 62% – are dissatisfied with the 3.2% payment increase they will receive in 2024.”

This financial struggle is evident as nearly three in five seniors admitted to struggling to afford everyday necessities like food, rent, and medical care. Additionally, the survey revealed that around 20% of seniors on Social Security are planning to seek employment due to the minimal increase.

Starting in January, over 66 million Americans collecting Social Security began receiving increased payments. However, this boost was considered a steep drop from the 8.7% increase in 2023, the highest in four decades.

“The payment boost represented a sharp decrease from 2023, when recipients received an 8.7% bump, the highest in four decades. However, it remains higher than the 2.6% average increase recorded over the past two decades.”

This increase, still above the two-decade average, enhanced the average retiree benefit of $1,907 by approximately $59 per month. The annual adjustment is calculated based on the consumer price index for Urban Wage Earners and Clerical Workers, or the CPI-W, from July, August, and September.

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