Atlanta, Georgia – Social Security retirement payments are set to increase for a specific group of U.S. citizens. With the 2024 COLA, individuals may receive their checks sooner and with a higher payout.
In April 2024, the maximum retirement check could reach $4,873, while disability payments could go up to $3,822. These figures represent a significant increase from the previous year, reflecting the impact of the COLA on Social Security benefits.
The automatic annual adjustment by the Social Security Administration ensures that beneficiaries receive the COLA without needing to submit a separate application. Retirees have already begun to see the benefits of this increase in their January 2024 checks.
To qualify for the increased payment in April, recipients must have been receiving Social Security checks since May 1997 and have a birthday between the 11th and 20th of any month. Those who meet these criteria will receive their benefits on April 17th, with payments for other retirees following in the subsequent weeks based on their birthdates.
Additional payments in April will be made on the 17th to retirees born between the 11th and 20th of any month, while the final payments will occur on the 24th for those with birthdays between the 21st and 31st. This marks the end of the Social Security payment calendar for the month, with the next round of benefits scheduled for May.
Overall, the 2024 COLA brings welcome news for Social Security recipients, providing a boost in payments and ensuring timely delivery of benefits for those eligible. The automatic adjustment mechanism simplifies the process for beneficiaries, who can look forward to increased financial security in the months ahead.