It is the second Wednesday of the month which means that one of three cohorts of Social Security recipients will see benefit checks hitting their bank accounts today. There are currently well over 70 million beneficiaries to the Social Security program and likely due to the sheer volume of recipients, the Social Security Administration (SSA) has structured its payment schedule in a way that divides up payment days throughout the month. In addition to paying the regular types of Social Security benefits such as retiree, disability, or survivor benefits, the SSA also oversees the issuing of the Supplemental Security Income, or SSI benefit.
A benefit payment schedule for the full calendar year can be found on the SSA’s website, with payment dates for both the regular benefit, as well as the SSI benefit marked on it. The regular Social Security benefits and the SSI benefit both follow their own respective payment structures. October’s benefit payments began rolling out as of the 1st, and the first round of regular Social Security benefits for October will be paid out to some beneficiaries today. Here is what you need to know.
October benefits hit bank accounts today
For retiree, survivor, or disability benefits, the SSA has structured its payment schedule in relation to the date of birth of the beneficiary. The schedule is split into three categories and spread across the second, third, and fourth Wednesday of each month. The first of the three payments for this month will be made today, October 8th, and the beneficiaries who will receive their checks today are those with birth dates from the 1st to the 10th of their respective birth month. On the third Wednesday of each month, checks are sent to beneficiaries with birth dates from the 11th to the 20th, and on the fourth Wednesday of each month, checks are rolled out to beneficiaries with birth dates from the 21st to the 31st of their respective birth month.
The regular Social Security benefit payment usually follows a rigid structure with no fluctuations on the official schedule, however, the SSA does note that beneficiaries should allow three additional mailing days before contacting the agency if their check does not arrive on the stipulated date.
Bonus SSI check at end of October
The Supplemental Security Income, or SSI, benefit is a type of welfare benefit that is paid to individuals with little to no other resources or income, who are also disabled, blind, or aged 65 and older. The SSI benefit is typically paid on the first of each month, however, the SSA will often roll out this payment a few days earlier (i.e. at the end of the previous month). If the SSI benefit is scheduled to be paid earlier, this earlier date will still be clearly marked on the official schedule.
For this reason, it sometimes appears as though there will be a bonus SSI payment during some months, as is the case for October. The SSI for October had been issued to recipients on the 1st, however, as per the schedule, there will be a second SSI check rolled out on October 31st. This is the SSI benefit for November.
“When the first day of the month falls on the weekend or a Federal holiday, you receive your SSI payment on the last business day before the first day of the month. That means you may get two SSI payments in the same month,” the SSA previously explained. “We do this to avoid putting you at a financial disadvantage and make sure that you don’t have to wait beyond the first of the month to get your payment. It does not mean that you are receiving a duplicate payment in the previous month, so you do not need to contact us to report the second payment.”
Complete payment schedule for October
- October 1st — SSI benefit for October
- October 3rd — Social Security benefit for recipients who also receive the SSI beenfit
- October 8th, second Wednesday — Social Security benefit for recipients with birth dates from the 1st to the 10th of their respective birth month
- October 15th, third Wednesday — Social Security benefit for recipients with birth dates from the 11th to the 20th of their respective birth month
- October 22nd, fourth Wednesday — Social Security benefit for recipients with birth dates from the 21st to the 31st of their respective birth month
- October 31st — SSI benefit for November