Extra Money from SSA: Who is Eligible to Receive Double Payment this Month?
How is Social Security eligibility determined?
Social Security eligibility is determined by your income, age at filing, and the number of years you worked. You must earn at least 40 Social Security credits, with a maximum of 4 credits per year, by paying Social Security taxes on your earnings4. Your benefits are calculated based on your average indexed monthly earnings, and you can start receiving benefits as early as age 62, with full benefits available at your full retirement age.
What additional funding do some American families receive?
Some American families receive additional funding through Social Security benefits, which depend on factors like income, age at filing, and years worked. Benefit-eligible families listed on the worker's record can receive this additional funding. Payments can be issued to certain spouses and dependents once the worker files for retirement.
When are Social Security payments issued in July 2024?
In July 2024, Social Security payments will be issued on the following dates: July 3, July 10, July 17, and July 24. The payment date depends on the beneficiary's birthdate and the type of benefit they receive.