politics
July Social Security Payments Scheduled Across Three Dates
Washington Examiner reported the first round of July Social Security payments will go out July 8. Later rounds follow on July 15 and July 22 depending on birth dates. Maximum monthly benefit is $5,181.
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The first round of July Social Security payments will be issued on Wednesday, July 8, Washington Examiner reported. Retirees born on or before the 10th of a month qualify for that round. The second round will be issued July 15 to those born between the 11th and 20th of a month.
The third round follows on July 22 for retirees born on or after the 21st. The maximum monthly Social Security payment is capped at $5,181. A beneficiary retiring at age 62 could receive up to $2,969 per month, while a 70-year-old retiree could receive up to $5,181, according to the Social Security Administration.
Citizens become eligible for payments at age 62. Payment amounts depend on retirement age, earnings history, and years of contributions. The Social Security retirement fund is projected to run out by 2032, Washington Examiner reported, citing a trustees report.
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