$4,555 in 3 days! Social Security Payday Arrives for Million
The second round of December Social Security payments, totaling up to $4,555, is set for distribution in three days.
Recipients born on the 11th or 20th of the month will receive payments.
Third and final payment on December 27th for those born 21st and later.
Maximum payment for 70-year-old retirees: $4,555 per month.
Payment amount depends on age, contribution history, and overall factors.
Maximum monthly amounts: $2,572 for those retiring at 62, $4,555 for those retiring at 70, and $3,627 for those retiring at 67
Actual received amounts differ; beneficiaries can calculate personalized estimates using the SSA's calculator.
January's payments are anticipated to increase by 3.2% due to annual adjustments for inflation across all Social Security payouts.
Concerns arise regarding a projected decrease in payments by 2034 due to an imbalance between retirees and contributing workers
This imbalance could result in the inability to sustain full payments to recipients, necessitating congressional intervention.