{"id":2315838,"date":"2024-07-30T06:36:00","date_gmt":"2024-07-30T10:36:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-first-round-of-august-payments-worth-4873-to-go-out-in-16-days-washington-examiner\/"},"modified":"2024-07-30T06:38:38","modified_gmt":"2024-07-30T10:38:38","slug":"social-security-update-first-round-of-august-payments-worth-4873-to-go-out-in-16-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-16-days-washington-examiner\/","title":{"rendered":"Social Security Update: First round of August payments worth $4,873 to go out in 16 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-16-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=2315838&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>A recent update regarding Social Security \u2062benefits reveals that retirees can anticipate \u200btheir August payments, totaling up to $4,873 for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-joe-manchin-meeting-with-republicans-drafting-scaled-down-version-of-biden-infrastructure-bill\/\" title=\"Report: Joe Manchin Meeting With Republicans, Drafting \u2018Scaled Down\u2019 Version Of Biden Infrastructure Bill\">high-income earners<\/a> who retire\u200d at age 70, to be deposited in their bank accounts on \u200cAugust 14. \u2064The amount received by retirees varies based on their retirement age, years of contributions, and total contributions to the\u200d system. Those who retire at the earliest age of 62 may receive\u2063 a maximum of\u200d $2,710 \u2063monthly. Beneficiaries can also obtain personalized \u200bestimates of their\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-second-round-of-december-payments-worth-4555-to-be-sent-out-in-four-days\/\" title=\"Second round of December payments worth ,555 to be sent in four days: Social Security update\">expected monthly payments<\/a> \u2063through the Social Security Administration&#8217;s website.  <\/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 16 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>Millions of <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/retirement\/\" target=\"_blank\" rel=\"noopener\" title>retirees<\/a> can expect to see their <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/social-security\/\" target=\"_blank\" rel=\"noopener\" title>Social Security<\/a> benefits for the month of August hit their <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/bank\/\" target=\"_blank\" rel=\"noopener\" title>bank <\/a>account on Aug. 14.<\/p>\n<p>The amount of Social Security benefits retirees receive depends on the age at which they retire, the number of years they paid into the system, and the amount of money they paid to Social Security. Highest-income earners who retired at age 70 can expect to receive a maximum of $4,873 each month. Those who retired at age 62, the earliest age at which one can begin to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-marks-20-years-in-world-trade-organization\/\" title=\"China Marks 20 Years in World Trade Organization\">collect benefits<\/a>, at most, can collect $2,710 each month.<\/p>\n<p>Beneficiaries can see a personalized estimate of how much they can expect each month&nbsp;<a href=\"https:\/\/www.ssa.gov\/benefits\/retirement\/planner\/AnypiaApplet.html\" target=\"_blank\" rel=\"noreferrer noopener\">through<\/a>&nbsp;the Social Security Administration&rsquo;s calculator.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title> <\/a><\/strong><\/p>\n<p>When a retiree receives their Social Security check depends on when their birthday falls. The first round of checks will go out to people born between the 1st and 10th of the month on the second Wednesday of the month, which falls on Aug. 14. Retirees born between the 11th and 20th of a month will receive their checks on Aug. 21, and retirees born on or after the 21st of a month will receive their payments on Aug. 28.<\/p>\n<p>The federal government has provided Social Security benefits to retirees since 1935, when former President Franklin D. Roosevelt signed it into law. It is financed by a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oregon-task-force-aiming-to-roll-out-universal-healthcare-plan-in-2026\/\" title=\"Oregon Task Force Aiming to Roll Out Universal Healthcare Plan In 2026\">payroll tax paid<\/a> by both employers and employees. However, analysts&nbsp;<a href=\"https:\/\/www.crfb.org\/projects\/trust-fund-solutions\" target=\"_blank\" rel=\"noreferrer noopener\">estimate<\/a>&nbsp;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. It is up to Congress to make changes to ensure recipients don&rsquo;t see a dip in payments.<\/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 Coming Soon**<\/p>\n<p>Millions of retirees can anticipate their Social Security benefits for August to be deposited into their bank accounts on August 14. The amount received varies based on the retirement age, years contributed to the system, and total contributions made. Those who retire at age 70, the maximum retirement age, may receive up to $4,873 monthly. In contrast, individuals who retire at the earliest eligible age of 62 can expect a maximum monthly benefit of $2,710. Beneficiaries can use the Social Security Administration&#8217;s calculator for a personalized estimate of their expected monthly payments.<\/p>\n<p>The timing of when retirees receive their checks is determined by their birth date. The first batch will be issued on the second Wednesday of August (August 14) for those born between the 1st and 10th. Payments will go out on August 21 for those born between the 11th and 20th and on August 28 for those born after the 21st.<\/p>\n<p>Since its inception in 1935 under President Franklin D. Roosevelt&#8217;s administration, Social Security has been funded through payroll taxes from both employers and employees. However, analysts predict that by as early as 2034, full payments may no longer be sustainable due to an increasing number of retirees coupled with a declining workforce. It will require Congressional action to prevent any reduction in benefits for recipients<\/p>\n","protected":false},"author":2542,"featured_media":2315839,"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\/07\/Social_security_policy_1.webp","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[36436,36435,36621,33104,32076],"class_list":["post-2315838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-august-payments","tag-financial-news","tag-government-updates","tag-social-security","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Social_security_policy_1.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2315838","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\/2542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2315838"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2315838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315839"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2315838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2315838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2315838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}