For Social Security beneficiaries, May 2024 brings a rare situation where some recipients will receive two payments in a single week. This occurrence affects Supplemental Security Income (SSI) beneficiaries and is due to the way the Social Security Administration (SSA) schedules payments around weekends and federal holidays. If you are wondering how this will affect your payment schedule, read on for the facts and everything you need to know.
Why Will Some Social Security Recipients Receive Two Payments in May?
The Social Security Administration issues payments to beneficiaries based on a set schedule. Typically, SSI payments are made on the first day of each month. However, if the first falls on a weekend or federal holiday, the payment is moved to the preceding business day.
In May 2024, the first day of the month (May 1) falls on a Wednesday, which means SSI recipients will receive their regular May payment on May 1. However, because June 1 falls on a Saturday, the SSA will advance the June payment to Friday, May 31. As a result, SSI beneficiaries will receive two payments in May: one on May 1 for the month of May and another on May 31 for the month of June.
This change only applies to those receiving SSI, not regular Social Security benefits. If you’re a dual beneficiary—receiving both SSI and Social Security benefits—you will get your SSI payment on May 1 and May 31. Your Social Security benefits will still be paid according to the SSA’s standard schedule based on your birth date.
Who is Affected by Two Payments in May?
SSI-Only Recipients
If you are an SSI-only recipient, you will receive two payments in May: one on May 1 and another on May 31. This occurs because of the SSA’s adjustments to its payment schedule due to the June 1 weekend.
Dual Beneficiaries
If you are a dual beneficiary (someone who receives both SSI and Social Security), you will also receive two SSI payments in May, but your Social Security payments will be issued based on the usual schedule. For example:
- If your birth date falls between the 1st and 10th of the month, your Social Security payment will arrive on the second Wednesday of the month, May 8, 2024.
- If your birth date is between the 11th and 20th, you will get your Social Security payment on May 15, 2024.
- If your birthday falls between the 21st and 31st, your Social Security payment will be issued on May 22, 2024.
Pre-May 1997 Beneficiaries
For those who began receiving Social Security before May 1997, the payment schedule is slightly different. These individuals typically receive both their SSI and Social Security payments on different days. For instance, their SSI payment will be issued on May 1 and May 31, while their Social Security payment will arrive on the third day of the month, May 3, 2024.
How to Check Your Payment Schedule
The SSA has an easy-to-follow payment schedule for all Social Security recipients, and it’s important to review the details to ensure you’re prepared. For more information on payment dates, check out the official SSA payment schedule document here.
It’s important to note that receiving two payments in May doesn’t mean you’ll get extra money. You are still receiving the same total amount of benefits, just with a change in when the payments are issued. Beneficiaries should also be aware that the June payment will not be issued on June 1, as it has been moved to May 31. This could be particularly beneficial for those who rely on the June payment to cover expenses at the start of the month.
Additional Considerations and Helpful Resources
The SSA recommends that recipients wait at least three business days after the expected payment date before contacting them if a payment is delayed. With the changes to payment schedules, there may be occasional delays, but these issues are typically resolved quickly.
For those looking to stay informed about their benefits, the SSA’s website offers a comprehensive resource center with updates on payment dates, eligibility criteria, and additional support. You can access it here.
Why This Matters for Social Security Beneficiaries
Social Security payments are an essential source of income for millions of people, especially retirees, disabled individuals, and those receiving SSI. These adjustments to the payment schedule are part of the SSA’s effort to ensure that payments are delivered efficiently while accommodating weekends and holidays.
Understanding when your payments will arrive and how to navigate any changes to the schedule is crucial. If you’re one of the millions of beneficiaries affected by the May 2024 payment changes, make sure to mark your calendar for May 1 and May 31 as key dates for your upcoming payments.
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
