Payments to retired employees are frequently connected with Social Security benefits. Millions of SSI users won’t receive a cheque in July. Because the beginning of the month came on a Saturday, the July SSI payment was sent on June 30 rather than July 1.
SSI payments are normally made on the first of each month, unless there is a holiday or weekend.
In that situation, beneficiaries will be paid on the first business day after the beginning of the month.
This year, the average federal SSI benefit rate is $914 for an individual and $1,371 for a couple, and many states choose to increase these amounts as well.
The next SSI payment will be issued on August 1. Meanwhile, 33 states are increasing SSI payouts by up to $140 per month.
How much money can you earn while still receiving SSI?
Once you are eligible for SSI, the Social Security Administration monitors your household’s taxable income. Earned and unearned income are also included.
Depending on the amount, your advantages can be diminished.
They diminish specifically on a dollar-for-dollar basis. So, if you have $910 in countable income, you will only receive a $4 SSI payment.
Working while receiving Social Security benefits
One consequence of claiming Social Security before reaching full retirement age is that your benefits will be lowered if you earn too much money while working.
Depending on the year you were born, your full retirement age might be 66 or 67.
If you earn $19,560 or more in 2022, the Social Security Administration will withhold $1 for every $2 you make above the maximum.
The SSA deducts $1 for every $3 you earn beyond $51,960 in the year you reach full retirement age.
Deductions will thereafter cease once you reach full retirement age.
States that do not provide SSI
In the meantime, not every date provides SSI in addition to the federal sum. This includes:
Arizona
Arkansas
Mississippi
The state of North Dakota
Tennessee
The state of West Virginia
Mariana Islands, Northern
