You could get a COLA Social Security payment of $ 1,657 in 4 DAYS, as the January birthdays calendar reveals
AMERICANS will start receiving a COLA Social Security increase of $ 1,657 in just four days, as payments begin to flow based on birthdays.
The payments will be the first Social Security payments to include the 5.9 percent cost-of-living adjustment (COLA).
Retired workers will see an increase of $ 92 on average, increasing their monthly benefit from $ 1,565 to $ 1,657.
Recipients whose birthday falls between 1st and 10e of their birth month can expect to receive their monthly benefits on the second Wednesday of each month.
This means that some seniors will receive their first adjusted monthly check on January 12.
People born in the middle of the month, from 11 to 20, will receive their payments on January 19.
And people born on or after the 20th can expect checks on January 26th.
Throughout the year, payments will be sent on the second, third and fourth Wednesdays of each month.
The average monthly payment for couples will drop from $ 2,599 to $ 2,753 – a jump of $ 154.
Employees with disabilities will see their checks increase from $ 1,252 to $ 1,358 per month.
Read our COLA live blog for the very latest news and updates …
About eight million Supplemental Security Income recipients received their increased payment around December 30 of last year.
Social security recipients should have already received a letter explaining the new COLA increase.
If Americans do not receive their payment by the due date, they must wait three additional postal days before contacting the Social Security Administration.
The 5.9% increase is COLA’s biggest increase in almost 40 years. Last year, benefits increased only 1.3%.
Benefits increased 5.8% in 2009, but in subsequent years the adjustment was zero.
Americans can calculate how much they are likely to pocket through the My social security website.
Some beneficiaries are already worried that the increase in payments could cover the costs of inflation.