In three weeks, Supplemental Security Income beneficiaries will receive the second of two payments in March. The first round of funds was sent out to eligible recipients on March 1, and the next payment will be delivered on March 31.
The first round of funds was sent out to eligible recipients on March 1, and the next payment will be delivered on March 31. The second disbursement will take the place of the April 1 payment because April 1 is on a Saturday this year. Each payment is worth $914, meaning beneficiaries will receive $1,828 in the month of March.Eligible couples will receive two payments of $1,371 in March.
The Social Security Administration typically issues a monthly SSI check on the first day of every month. But in months when the first is on a holiday or weekend, the administration releases the checks on the last business day of the previous month to ensure recipients have the check to pay bills by the first of the month, according to the agency.
This results in recipients receiving two checks in the same calendar month multiple times a year while still receiving a total of 12 checks per year.Three other months will also see two payments in the same month 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 always 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.
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