Social Security update: Second of March’s two direct payments worth $914 arrives in 12 days
Social Security update: Second of March’s two direct payments worth $914 arrives in 12 daysAsher Notheis
March 19, 06:32 AM March 19, 06:33 AM
Supplemental Security Income beneficiaries will receive the second of two payments arriving in March in 12 days.
The first disbursement was sent out to eligible recipients on March 1, and the next payment will be delivered on March 31. The second round will take the place of the April payment because April 1 is on a Saturday this year. Each payment is worth $914 for individual filers, meaning beneficiaries will receive $1,828 in March.
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The Social Security Administration typically issues one monthly SSI check on the first day of the month. However, when the first day of a month is a holiday or weekend, the administration releases the checks on the last business day of the previous month to ensure recipients have the check by the first of the month, according to the agency.
Recipients receive two checks in the same calendar month multiple times a year, but they still receive a total of 12 payments per year.
Other people who qualify for the payment include eligible couples. They will receive two payments of $1,371 in March. Essential people, those who live with someone receiving SSI and provide them with necessary care, will get two checks for $458 each.
Three other months will see two payments this year: June, September, and December. This is because the first of the month falls on a weekend in July and October. December sees two checks every year because Jan. 1 is a national holiday.
SSI payments were first issued by the Social Security Administration in January 1974, and payment rates have increased for cost-of-living adjustments each year since 1975, according to the agency.