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5d ago

Social Security Schedules Multiple August Disbursements as Beneficiaries Plan Claims

Retirees are leveraging SSA.gov projections to optimize benefit timing under the new $6,000 senior tax deduction.

An older couple take a jog together on a park path.
Stock image/file photo: A Social Security card with U.S. Dollars.
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SSA to roll out August payments for beneficiaries soon: Check schedule, eligibility and more (REUTERS/Dado Ruvic/Illustration/File Photo)

Overview

  • Multiple Social Security payments will go out in August, beginning with Aug. 1 disbursements for SSI and early retirees, followed by retirement checks on Aug. 13, 20 and 27, and an early Aug. 29 SSI pre-payment.
  • The SSA’s online estimate tool delivers personalized projections based on a retiree’s highest 35 years of earnings to help refine claiming decisions.
  • Claim timing impacts lifetime income: starting at 62 locks in reduced payments, waiting to full retirement age restores full benefits, and delaying to 70 adds roughly 8% per year.
  • One Big Beautiful Bill’s new $6,000 senior deduction is reshaping tax strategies, leading retirees to balance IRA withdrawals and Social Security claims to optimize after-tax income.
  • Financial advisers recommend strategies such as part-time work to replace low-earning years and leveraging spousal benefits to boost monthly payouts.