Overview

• The third August payment goes out on Aug. 27 for those born on or after the 21st, following earlier waves on Aug. 13 and Aug. 20.
• For 2025, the maximum monthly benefit is $5,108 at age 70 versus up to $2,831 at 62, and the average check is about $2,006.
• Working before full retirement age can trigger the earnings test, withholding $1 for every $2 earned above $23,400 or $1 for every $3 above $62,160 in the year you reach full retirement age.
• Most beneficiaries have Medicare Part B premiums deducted from their checks, and IRMAA surcharges tied to prior income can push total monthly premiums above $500.
• Up to 85% of benefits can be subject to federal income tax based on combined income, and SSA projections warn of benefit cuts in the early 2030s without congressional action.