By Alon Bidden
Published on:
A significant Social Security payment of $4,873 is set to be disbursed to some retirees on the last payday in July.
This substantial amount is only available to those who have met specific eligibility criteria set by the Social Security Administration (SSA). Here’s everything you need to know about qualifying for this payment and the key dates to keep in mind.
To receive a Social Security payment of $4,873 in July 2024, retirees must meet four key conditions:
For those who meet all the conditions, the $4,873 payment will be sent on the fourth Wednesday of July, which falls on July 24, 2024. To be eligible for this payment date, you must also meet the following criteria:
For recipients who started receiving benefits before May 1997, the next payment will be on August 2. Those receiving SSI will receive their payments on August 1.
After the July 24 payment, Social Security has scheduled three more paydays on the second, third, and fourth Wednesday of August, specifically on August 14, 21, and 28. The average Social Security payment in July 2024 is expected to be around $1,918.
The upcoming $4,873 Social Security payment in late July 2024 is a considerable amount that requires careful planning and adherence to specific criteria.
By ensuring you meet the age, work history, taxable employment, and earnings requirements, you can maximize your Social Security benefits.
Stay informed about your eligibility and the payment schedule to make the most of your retirement benefits.
Retirees who filed for benefits at age 70, worked for 35 years, paid Social Security taxes, and earned the taxable maximum for 35 years.
The payment will be made on July 24, 2024, to those who meet the eligibility criteria.
The average payment is about $1,918.
SSI recipients will receive their payments on August 1, 2024.
Your next payment will be on August 2, 2024.
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