The Social Security Administration (SSA) is set to issue a new round of Social Security Program payments this Wednesday, May 22nd. Find out if you qualify to receive one of these $1,900 checks.

Each month, the SSA distributes millions of checks to beneficiaries, including retirees, individuals with disabilities, and participants of the Supplemental Security Income (SSI) program. The distribution date of these payments depends on beneficiaries' birth dates. Those born between the 1st and the 10th of each month receive their check on the second Wednesday of the month. Those born between the 11th and the 20th receive it on the third Wednesday, and those born between the 21st and the 31st receive it on the last Wednesday of the month. This ensures an orderly and efficient distribution of funds.

However, there are two important exceptions. Retirees before May 1997 and SSI beneficiaries receive their payments in the first days of the month, regardless of their birth date. If a beneficiary receives both Social Security and SSI payments, the SSA sends the SSI check on the first day of the month and the Social Security check on the third day of the month.

Social Security Amounts: How Much Will You Receive?

The amount each beneficiary receives varies depending on several factors, including their work history, earnings, and taxes paid to Social Security throughout their working life. The SSA uses this data to calculate the "primary insurance amount," which is adjusted based on the beneficiary's retirement age. Generally, those who retire later receive higher payments.

With the 3.2% Cost of Living Adjustment (COLA) increase in 2024, the average payment for retirees is $1,907 per month for individuals and $3,303 for couples filing jointly. SSI beneficiaries receive an average payment of $943 for individuals and $1,415 for couples.

The maximum payment amount also depends on the retirement age. Maximum benefits are $2,710 for those retiring at 62, $3,426 at 65, and $3,652 at 66. Those who wait until full retirement age can receive up to $3,822, while those who delay retirement until 70 can receive up to $4,873.

May 22nd Payment: Who Receives It?

Following the Social Security payment schedule, beneficiaries born between the 21st and the 31st of any month will receive their average $1,900 check this Wednesday, May 22nd.

This payment completes the distribution for the month of May. Additionally, since the first June payment falls on a holiday, SSI beneficiaries will receive their advance funds on Friday, May 31st.