March 2024 Social Security Payments Schedule Announced
The Social Security Administration has released the payment dates for March 2024, with the first round of payments worth up to $4,873 for the highest earners.
Overview
- Social Security payments for March 2024 will begin on March 1 for SSI recipients and those claiming since before May 1997, with subsequent payments based on birthdates.
- The first round of payments for retirees born between the 1st and 10th of the month will be on March 13, with maximum benefits reaching $4,873 for those retiring at 70.
- A 3.2% increase in Social Security payments from last year has been implemented, averaging about $50 more per month for beneficiaries.
- The SSA is proposing automated payroll information exchanges to reduce incorrect payments, a move supported by Commissioner Martin O'Malley.
- Beneficiaries receiving both Social Security and Supplemental Security Income (SSI) benefits will see payments on March 1 and 3 respectively.