Why Did I Receive Two Social Security Checks This Month? Advertiser disclosure You’re our first priority. Every time. We believe that everyone should be able to make sound financial decisions without hesitation. And while our site does not feature every business or financial product in the marketplace, we’re proud of the advice we provide and the information we offer as well as the tools we design are objective, independent, straightforward — and completely free. How do we earn money? Our partners compensate us. This can influence the products we review and write about (and where those products appear on our website) However, it does not affect our suggestions or recommendations which are based on many hours of research. Our partners cannot promise us favorable reviews of their products or services. . Why Did I Receive Two Social Security Checks This Month? Two checks may be issued in the same month if you’re receiving two different benefits, or there’s an error in the calendar. Written by Connor Emmert Writer | Personal Financial, investment retirement Connor Emmert is a writer and NerdWallet expert on investing. Before becoming a member of NerdWallet from 2021 onwards, he spent several years as a registered financial advisor for Bank of America/Merrill & Fisher Investments. Connor earned the bachelor’s in English from Colby College. If he’s not studying and writing about personal finance, he enjoys traveling (on points, hopefully) and reading novels, as well as spending time outside with his lapdog. Jan 12, 2023 edited by Claire Tsosie Assigning Editor | Business software, credit cards, payments Claire Tsosie is an assigning editor at NerdWallet. Her areas of expertise include the study and development of strategies. She’s edited writing on a variety of subjects, including the business sector, Medicare and home improvement. In the past, she was a credit cards writer at NerdWallet for more than five years. Her work was featured in Forbes, USA Today and The Associated Press. She’s spoken at both CardCon (2017 and 2018) and FinCon (2019). Email:
. The majority of products featured here are from our partners who compensate us. This affects the products we review and where and how the product appears on a page. But this doesn’t affect our assessments. Our opinions are entirely our own. Here’s a list and . If you’re receiving , it’s possible to receive two checks within the same month. In most cases, this is due to receiving two separate benefits or because a weekend or holiday occurred on the date you’d typically get your benefits check. In some cases, you might be receiving back payments. There are two payments. If you’re currently getting benefits through Social Security, it’s important to be aware of the benefits you are eligible for, and the exact payment schedule for each type of benefit. There are two primary kinds of Social Security benefits: Social Security Administration Old-Age, Survivor and Disability Insurance, also known as OASDI or SSA — provides benefits for retirees, disabled workers as well as family members of deceased workers. The OASDI program is divided into three major categories that share the same taxes and payment schedules and generally cannot be collected simultaneously: Social Security retirement benefits, which replace a portion of your pre-retirement income which are based on your annual earnings. You’re usually eligible to receive benefits if you’re aged 62 or over who has been paying Social Security taxes for 10 or more years. Social Security survivor’s income, which is a benefit paid to an eligible spouse’s surviving spouse and dependent parents or children older than 18 or have disabilities. Social Security Disability Insurance, also known as SSDI, which are benefits paid to eligible adults and children with disabilities that qualify with a low income. Additional Security Income , or SSI is a source of income to those with low incomes who are eligible for federal income assistance. It’s possible to receive SSI along with retirement benefits or disability payments. The schedule of payments for SSI differs from OASDI. You might receive two checks per month simply because you qualify for and are registered for more than one benefit. If you receive both Social Security benefits as well as SSI and SSI, you’ll receive your SSI payment on the first of each month, and the Social Security payments on the 3rd day, according to the Social Security Administration. Holidays or weekends can affect the schedule The Supplemental Security Income (SSI) program gives benefits to low-income individuals who are eligible for assistance from the government when they’re older than 65, visually impaired or blind. SSI payments are sent out to those who qualify on the first day of every month. However, if the first of the month falls on a federal holiday or on an unplanned weekend, the payment will go out prior to the first day, which is the first day that’s not the weekend or a holiday. In some cases, this may result in eligible people receiving two SSI payments in the exact month. For instance January. 1st, 2023 is a holiday of the federal government that occurred on a weekend, so qualifying individuals would have received their SSI benefit on Dec. 30, the last business day of December 2022 which was not an official holiday or weekend. OASDI benefits, however generally don’t come due on the last or first date of each month even with holiday adjustments. The benefits are usually paid out on the second, third , or fourth Wednesday of the month, depending on your birthday date. If the Wednesday scheduled for benefits payment falls on a federal holiday, the scheduled payment will default to the day that precedes the Wednesday that isn’t a federal holiday. Because of this, it’s unlikely that you’ll get two checks in the same month with this program. However, it’s possible if you’re also receiving SSI, or if you’re getting disability-related back payment (more on that later). Learn more about If you’re receiving back payment If you ever have to apply for disability benefits under Social Security’s OASDI Program, it may take three to 5 months or even longer to figure out whether you qualify. Even if you’re accepted the process typically takes another sixty days to receive any form of compensation. This is among the reasons it is a crucial part of a financial plan. Find out more Once you’re approved, SSDI will issue the lump sum amount of the benefits you did not receive after you applied, which is due back to the day you were declared disabled. SSDI back payments are available for direct deposit only, so you’ll need to ensure you have a valid bank account to get benefits. Once the benefit for the month has begun you could receive two benefits in that same calendar month- one lump sum payment in addition to your regular monthly benefit. Author bio Connor Emmert is a writer and NerdWallet’s authority on investing. Prior to joining NerdWallet in 2021, he spent several years as a licensed financial advisor with Bank of America/Merrill Lynch and Fisher Investments. Similar to… Explore even more deeply in the field of insurance. Get more smart money moves delivered straight to your inbox. Sign-up and we’ll email you Nerdy content about the money topics which matter to you the most and other strategies to help you make more from your money.
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