If you’re one of the many Social Security recipients wondering why there’s no check coming in December, don’t worry—there’s no need for concern.
This change is simply a result of a calendar quirk. Due to how the dates fall this year, some beneficiaries will receive two payments in November instead of one in December.
What’s Causing the Change?
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The shift affects those who receive Social Security or Supplemental Security Income (SSI). Normally, SSI payments are issued on the first business day of each month.
However, this year, December 1st falls on a Sunday. To avoid delays, the Social Security Administration (SSA) will send out December’s payment on Friday, November 29. So, if you notice no check in December, it’s because you’ve already received it early!
Retirement Payments and Staggered Schedules
Retirement checks can also arrive earlier than expected depending on how the calendar lines up. Payments are staggered throughout the month to accommodate the large number of recipients. Here’s how it breaks down:
- If your birthday falls between the 1st and 10th of any month, your check is typically issued on the second Wednesday of the month.
- For those born between the 11th and 20th, checks arrive on the third Wednesday.
- If your birthday falls between the 21st and 31st, your check is sent on the fourth Wednesday of the month.
This staggered schedule helps manage the processing of millions of payments each month, ensuring the system runs smoothly.
Maximum Benefits and Average Payments
The maximum Social Security retirement benefit in 2024 can be as high as $4,873, but most recipients will receive less.
In fact, the average monthly retirement check is around $1,907, a number calculated based on the 35 highest-earning years in a person’s career and adjusted for inflation.
Your maximum benefit depends on the age at which you retire. According to the SSA:
- Retiring at full retirement age in 2024 could mean a maximum benefit of $3,822.
- If you retire earlier, at age 62, the maximum is reduced to $2,710.
- However, if you wait until age 70 to retire, you could receive the maximum of $4,873.
Tax Changes and Social Security
Residents in nine states—Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont, and West Virginia—may notice higher taxes on their Social Security benefits starting this month.
How much you’ll pay depends on your state of residence and overall income. These tax changes have understandably raised concerns among beneficiaries living in these states.
Future Concerns for Social Security
While the December payment shift is just a small hiccup in the system, there are larger concerns on the horizon for Social Security.
Earlier this year, it was reported that the Social Security trust funds, which provide monthly benefits to around 70 million Americans, are expected to run short by 2035.
This projection is due to an aging population, which increases the program’s costs, while fewer people are contributing to it.
The latest report from the Social Security Board of Trustees indicates that the program can only pay full benefits for the next 11 years—one year longer than previously estimated. After that, without legislative changes, Social Security will no longer be able to cover all its obligations.
Final Thoughts
For now, though, there’s no need to panic about the missing December check. Rest assured, you’ll receive two payments in November instead.
As always, it’s important to stay informed about any future changes to the Social Security program, especially as policymakers work to address the long-term challenges the system faces.