Social Security beneficiaries have only three chances to get December checks worth up to $4,873 before amount goes away

Americans are running out of time to receive their leftover 2024 Social Security benefits as the year draws to a close.

Social Security beneficiaries have just three chances to get their December benefits, which can total up to $4,873.

Retirees, those with disabilities, and families that have lost a spouse or parent all receive Social Security checks.

Beneficiary birthdays are taken into account when determining the payment schedule.

On the second Wednesday of every month, for instance, Social Security money is paid to Americans whose birthdays fall between the first and the tenth of their birth month.

On the third Wednesday of every month, recipients who were born between the eleventh and the twentieth are paid.

Lastly, on the fourth Wednesday of the month, people who were born between the 21st and the 31st of the birth month receive their Social Security benefits.

The eleventh of this week is the second Wednesday in December.

On December 18, Social Security recipients who were paid on the third Wednesday will get their money.

Due to Christmas Day, which comes on the fourth Wednesday of December, recipients will be paid on Tuesday, December 24.

The amount of a recipient’s Social Security benefits is determined by their employment history and the amount they have contributed to the program over the years.

In general, a beneficiary’s monthly Social Security benefits will increase with the later they retire.

For instance, the maximum monthly check for individuals who retire at age 62 this year is $2,710.

With a maximum monthly payment of $3,822, this sum increases for Americans who postpone retirement until they reach their full retirement age, or FRA, in 2024.

The year of birth of a Social Security recipient determines the FRA:

• 1943 1954: age 66
• 1955 1959: age 66 and a certain number of months, increasing by two months each year:
  • 1955: 66 and 2 months
  • 1956: 66 and 4 months
  • 1957: 66 and 6 months
  • 1958: 66 and 8 months
  • 1959: 66 and 10 months
• 1960 or later: age 67

The maximum monthly benefit amount for Americans who further delay their benefits until they are 70 is $4,873.

INCREASED SOCIAL SECURITY PAYMENTS

The amount that Social Security recipients will get the following year is determined by the cost-of-living adjustment, or COLA, which is announced each October.

The adjustment amount takes into account how much money Americans need to live comfortably in the current economy, which is influenced by inflation rates.

The Social Security Administration announced a 2025 COLA of 2.5% on October 10, which is the lowest rise in roughly four years.

However, the adjustment rise is close to the COLA average of 2.6% over the past ten years, meaning that more than 72.5 million Americans will see a modest raise in their Social Security benefits beginning in 2019.

Starting in January, the average monthly Social Security retirement income will rise from $1,927 in 2024 by $50 to $1,976.

According to a Social Security expert previously interviewed by the U.S. Sun, you may earn an additional $26,000 per year if you postpone your payments.

Additionally, the expert identified two typical errors that can cost you thousands of dollars each month in Social Security benefits.

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