Surprise Deposit Alert: $1,580 Hitting Bank Accounts on May 14!

Surprise Deposit Alert $1,580 Hitting Bank Accounts on May 14!

Over the past 80 years, the Social Security Administration (SSA) has consistently ensured that Social Security benefits are disbursed on schedule each month.

For almost 70 million Americans who depend on their Social Security to pay their monthly bills, these payments, which are made according to a rigid schedule, are a lifeline.

To guarantee that beneficiaries can appropriately budget their payments, a rigorous schedule is in place. But the schedule will be a little different next month.

How Social Security distributes its benefits each month

Your birthdate and the SSA funds from which you get benefits determine how the agency schedules and staggers payments.

SSA has never missed or postponed a payment to its beneficiaries in the eight decades that the program has been in place. Beneficiary payments are distributed in accordance with the following schedule and are increased annually based on the cost-of-living adjustment index (COLA):

Payment TypePayment DateEligibility Criteria
Social Security & Disability Benefits2nd Wednesday of the monthBirthday falls between 1st–10th of the month
Social Security & Disability Benefits3rd Wednesday of the monthBirthday falls between 11th–20th of the month
Social Security & Disability Benefits4th Wednesday of the monthBirthday falls between 21st–31st of the month
Social Security & SSI (both received)Social Security: 3rd of the monthReceiving both Social Security and SSI
Supplementary Security Income (SSI) only1st of the monthReceiving SSI only
Social Security (claimed before May 1, 1997)3rd of the monthClaimed Social Security before May 1, 1997

Next month, beneficiaries can anticipate receiving double payouts

The average monthly disability benefit amount that recipients get is $1,580, based on SSA average payment figures.

The highest Supplementary Security Income (SSI) payment made to beneficiaries is $967 for individual filers, while the average payment for Retirement beneficiaries is $1,976 for individual beneficiaries.

The first payment cycle for those who only receive Social Security and/or Disability benefits will be made available on May 14. On the other hand, the schedule indicates that some will receive their first payment on May 3, 2025.

However, some beneficiaries will receive two payments for the next month. Payment dates do alter if the expected payment date coincides on a weekend or public holiday, even though the SSA payment schedule rarely varies.

Because June 1 falls on a Sunday, SSI beneficiaries will receive their June SSI payment on May 30. This means that two rounds of SSI payments will be given the following month.

Read Also: Strict SSA Measures Aim to Block Ineligible Payments – Find Out If You’re Impacted

Potential changes to Social Security this year

When it comes to the modifications that will be made to the SSA, the payouts for next month are minuscule. The new Department of Government Efficiency’s (DOGE) internal reorganization initiatives have resulted in significant internal changes within SSA, including the termination of numerous staff.

DOGE has been engaged by the Trump Administration to provide recommendations on how to reduce unnecessary federal spending.

Furthermore, because the fund is expected to run out by the early 2030s, beneficiaries should expect either a reduction in their benefits or an increase in their Social Security taxes to extend the fund’s duration. President Trump, however, has repeatedly stated that he has no plans to implement this and instead plans to drastically cut Social Security taxes.

The Trump Administration has been advised by experts to refrain from doing this and instead concentrate their efforts on prolonging the fund’s lifespan because doing so will cause the funds to run out much sooner than expected.

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