Social Security 2022 payment: second half of $1,682 monthly double checks due in three weeks

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Supplemental Security Income rBeneficiaries will receive a second payment this month in about three weeks.

Those who were eligible to receive their first payment of $841 on Sept. 1 can expect a second payment of the same amount to be made on Sept. 30, for a total of $1,682 for the month, according to Social Security. Administration.

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September is one of three months this year in which people receive two SSI payments, as the first day of the following month falls on a weekend. The other two months with two installments are April and December. A The SSA program shows eligible SSI recipients are receiving 12 payments this year. Three months – January, May and October – have no scheduled payments.

This year, eligible couples will receive two payments of $1,261 for the month of September. Essential people, those who live with a person receiving SSI and provide necessary care, will receive two installments of $421 to be paid on the same days.

SSI is a federal income supplement program “funded by general tax revenues (not Social Security contributions).” according to its government website. SSI “is designed to help elderly, blind, and disabled people with little or no income,” and it “provides cash to meet basic food, clothing, and shelter needs,” according to a description on the site.

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Analysts predict that Social Security payments will likely increase in 2023 due to rising inflation rates, for Nexstar Multimedia Cable. However, some may end up earning less than they currently receive, as the increased payments could put them in a higher tax bracket.

Without Congressional Action, Social Security Trust Fund Reserves Set to Start Drying Up by 2035, 2022 Annual Report Says report of the social security foundation board. “At the time of depletion of these combined reserves, the continued income from the combined trust funds would be sufficient to pay 80% of projected benefits,” the report said.

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Elaine R. Knight