{"id":2310043,"date":"2024-07-27T06:14:02","date_gmt":"2024-07-27T10:14:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2310043"},"modified":"2024-07-27T06:16:04","modified_gmt":"2024-07-27T10:16:04","slug":"social-security-update-first-round-of-august-payments-worth-4873-to-go-out-in-18-days-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-first-round-of-august-payments-worth-4873-to-go-out-in-18-days-washington-examiner\/","title":{"rendered":"Social Security update: First round of August payments worth $4,873 to go out in 18 days &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsocial-security-update-first-round-of-august-payments-worth-4873-to-go-out-in-18-days-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2310043&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The \u200carticle\u200b provides an update on the upcoming \u200dSocial Security payments scheduled for \u200dAugust, specifically noting that the first round of payments \u2064will be distributed to retirees on August 14. For <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-first-round-of-aprils-payments-worth-4873-goes-out-in-eight-days\/\" title=\"April&#039;s first payments of ,873 in Social Security benefits will be sent out in eight days\">high-income earners retiring<\/a> at age 70, the payments can reach up to $4,873. The Social Security program,\u200d established by the Social Security Act signed by Franklin D. Roosevelt in 1935, is designed to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-march-direct-payment-worth-943-goes-out-in-13-days\/\" title=\"March&#039;s Social Security direct payment of 3 will be sent in 13 days\">provide monthly financial support<\/a> to retirees.<\/p>\n<p>Payments are generally issued on the second Wednesday of each month and are staggered based \u200don the \u200cretiree&#8217;s birth date. Those born between\u2064 the 1st and 10th will receive \u2064their payments on August 14, while those born between the 11th and 20th will be paid on August 21, and retirees\u200b born on or after the 21st will see payments on August 28.<\/p>\n<p>The article also\u2063 briefly discusses factors affecting the amount\u200c of Social Security benefits, \u2062including the duration and amount of contributions made\u200c to \u200bthe system. For\u200d further details on how retirees can maximize their benefits, readers are directed to\u2063 explore the available resources.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Social Security update: First round of August payments worth $4,873 to go out in 18 days<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1648199\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The first round of August&rsquo;s <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/social-security\" target=\"_blank\" rel=\"noopener\" title>Social Security<\/a> payments will go out to <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/retirement\" target=\"_blank\" rel=\"noopener\" title>retirees<\/a> on Aug. 14.<\/p>\n<p>Here is everything to know about this month&rsquo;s Social Security payments, which are worth up to $4,873 for <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/money\" target=\"_blank\" rel=\"noopener\" title>the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-first-round-of-aprils-payments-worth-4873-goes-out-in-four-days\/\" title=\"Social Security Alert: Initial April payments totaling ,873 to be distributed in 4 days!\">highest-income earners<\/a><\/a> who retire at age 70,&nbsp;<\/p>\n<h3 class=\"wp-block-heading\">What is it?<\/h3>\n<p>Former President Franklin D. Roosevelt signed the Social Security Act into law in 1935, creating the Social Security Administration to manage it. The agency sends monthly checks to retirees, meant to reduce or replace their incomes once they stop working.<\/p>\n<h3 class=\"wp-block-heading\">When does the check arrive?<\/h3>\n<p>Social Security payments typically <a href=\"https:\/\/www.ssa.gov\/pubs\/EN-05-10031-2024.pdf\" target=\"_blank\" rel=\"noopener\" title>begin<\/a> on the second Wednesday of every month, and the following checks go out in the subsequent weeks. The distribution of payments depends on which day of the month a retiree was born.<\/p>\n<p>Retirees born between the first and 10th of a month receive their payments on Aug. 14. Beneficiaries born between the 11th and 20th of a month will receive their checks on Aug. 21, while retirees born on or after the 21st of a month will receive their payments on Aug. 28.<\/p>\n<h3 class=\"wp-block-heading\">How can I maximize my check?<\/h3>\n<p>The amount beneficiaries receive depends on when they retire, the amount paid into Social Security, and the number of years paid into Social Security.<\/p>\n<p>Payments largely depend on the recipients&rsquo; retirement age. According to the SSA, retiring at the youngest age, 62, allows up to $2,710 per month, while delaying retirement until age 70 can allot up to $4,873 per month.<\/p>\n<p>Beneficiaries can see a personalized estimate of how much they can expect each month <a href=\"https:\/\/www.ssa.gov\/benefits\/retirement\/planner\/AnypiaApplet.html\" target=\"_blank\" rel=\"noopener\" title>through<\/a> the SSA&rsquo;s calculator.<\/p>\n<h3 class=\"wp-block-heading\">When am I eligible?<\/h3>\n<p>Starting at 62 years old, citizens are eligible for Social Security payments.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong><\/strong><\/a><\/p>\n<h3 class=\"wp-block-heading\">How is it financed?<\/h3>\n<p>Social Security is financed by a payroll tax that is paid by both employers and employees.<\/p>\n<p>Social Security payment amounts are set to shrink unless Congress takes action to prevent it. Analysts <a href=\"https:\/\/www.crfb.org\/projects\/trust-fund-solutions\" target=\"_blank\" rel=\"noopener\" title>estimate<\/a> the SSA will no longer be able to give out full payments to recipients as early as 2034 due to a rising number of retirees and a shrinking number of workers.<\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1648199\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1648199\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>**Social Security Update: August Payments of Up to $4,873 Set to Begin in 18 Days**<\/p>\n<p>The initial batch of Social Security payments for August will be distributed to retirees on August 14. Here\u2019s what you need to know about this month\u2019s payments, which can reach as high as $4,873 for top earners who retire at age 70.<\/p>\n<p>**What is Social Security?**<br \/>\nThe Social Security Act was enacted in 1935 by former President Franklin D. Roosevelt, establishing the Social Security Administration (SSA) to oversee it. The SSA provides monthly checks to retirees aimed at supplementing or replacing their income after they stop working.<\/p>\n<p>**When Will Payments Be Received?**<br \/>\nSocial Security payments are generally issued on the second Wednesday of each month, with subsequent distributions occurring throughout the following weeks based on the retiree&#8217;s birth date. Those born between the 1st and 10th will receive their payments on August 14; those born from the 11th to the 20th will get theirs on August 21; and retirees born on or after the 21st will see their checks arrive on August 28.<\/p>\n<p>**How Can I Maximize My Payment?**<br \/>\nThe amount beneficiaries receive is influenced by their retirement age, how much they have contributed over time, and how long they have been paying into Social Security. According to SSA guidelines, retiring at age 62 allows for a maximum monthly payment of $2,710; however, delaying retirement until age 70 can increase that amount up to $4,873 per month. Beneficiaries can use SSA&#8217;s calculator for a personalized estimate of their expected monthly benefits.<\/p>\n<p>**Who Is Eligible?**<br \/>\nIndividuals become eligible for Social Security benefits starting at age 62.<\/p>\n<p>**How Is It Funded?**<br \/>\nSocial Security is funded through payroll taxes collected from both employers and employees. Without intervention from Congress, payment amounts may decrease due to an increasing number of retirees coupled with a declining workforce. Analysts predict that full benefit payouts could be unsustainable as early as 2034 if current trends continue<\/p>\n","protected":false},"author":3142,"featured_media":2310047,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/iStock-2118417970.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[36436,36437,33104,32076],"class_list":["post-2310043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-august-payments","tag-financial-update","tag-social-security","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/iStock-2118417970.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2310043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3142"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2310043"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2310043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2310047"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2310043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2310043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2310043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}