MILLIONS of Americans will see their Social Security payments hit their bank accounts soon as July’s first round of checks goes out.
The SSA will distribute the money, worth up to $5,108, to the country’s seniors in just days in the wake of a major policy shift.
The SSA will send out checks worth up to $5,108 in just days[/caption]
Social Security recipients will soon see a major benefits change following a policy shift[/caption]
Retirement benefits are handed out three times on a monthly basis according to a preset schedule based on recipients’ birthdays.
Those with birthdays falling between the 1st through 10th of the month see their payments on the second Wednesday of each month.
The second Wednesday of this month falls in just days on July 9, when this month’s first round of checks will be distributed.
Americans born on the 11th through the 20th of their birth month get paid by the SSA on the third Wednesday, or July 16 this month.
The third round of regular Social Security payments is sent out to retirees with birthdays falling between the 21st and 31st on the fourth Wednesday of each month.
This month, July 23 is the fourth Wednesday of the month.
2025 Social Security Payment Schedule
Social Security payments are handed out on the second, third, and fourth Wednesday of each month. Benefits will be paid out in 2025 on the following dates:
- January 8, 15, and 22
- February 12, 19, and 26
- March 12, 19, and 26
- April 9, 16, and 23
- May 14, 21, and 28
- June 11, 18, and 25
- July 9, 16, and 23
- August 13, 20, and 27
- September 10, 17, and 24
- October 8, 15, and 22
- November 12, 19, and 26
- December 10, 17, and 24
Individuals who started receiving their Social Security checks before May 1997 or those who are given both Social Security and Supplemental Security Income were sent this month’s payment on July 3.
Those who receive just SSI money should have been handed their checks on July 1.
How much money a Social Security beneficiary receives each month is based on a number of factors, especially an employee’s lifetime earnings and the number of years they worked.
The maximum benefit Americans can receive this year is $5,108, which would require earning the maximum taxable amount for 35 years and delaying claiming payments until age 70.
PROGRAM SWITCH-UP
As millions of Americans brace to receive their Social Security check for July, beneficiaries will soon see a major benefits change under the recently passed One Big Beautiful Bill.
The president’s budget reconciliation legislation, signed into law on July 4, will offer “long-awaited tax relief to millions of older Americans,” according to a blog post from the SSA.
The bill exempts approximately 90% of Social Security recipients from having to pay income taxes on their monthly checks because their deductions would exceed their taxable benefits, per the federal agency.
HOW TO SUPPLEMENT YOUR SOCIAL SECURITY
Here’s how to supplement your Social Security:
Given the uncertainty surrounding Social Security’s long-term future, it’s essential for workers to consider ways to supplement their retirement income.
Senior Citizens League executive director, Shannon Benton recommends starting early with savings and investing in retirement accounts like 401(k)s or IRAs.
- 401(k) Plans
- A 401(k) is a retirement account offered through employers, where contributions are tax-deferred.
- Many employers also match employee contributions, typically between 2% and 4% of salary, making it a valuable tool for building retirement savings.
- Maxing out your 401(k) contributions, especially if your employer offers a match, should be a priority.
- IRAs
- An Individual Retirement Account (IRA) offers another avenue for retirement savings.
- Unlike a 401(k), an IRA isn’t tied to your employer, giving you more flexibility in your investment choices.
- Contributions to traditional IRAs are tax-deductible, and the funds grow tax-free until they are withdrawn, at which point they are taxed as income.
“This is a historic step forward for America’s seniors,” said Social Security commissioner Frank Bisignano in a news release.
“By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned.”
The One Big Beautiful Bill offers a temporary tax deduction of up to $6,000 for retirees 65 and older for those with an adjusted gross income of $75,000 or less and $150,000 or less for couples filing jointly.
The tax break phases out for those making $175,000 or greater or couples pulling in $250,000 or more.
The deduction, which will expire when Trump leaves office in 2028, would primarily benefit upper-middle class Americans who pay taxes on their retirement benefits.
On the other hand, the millions of seniors living in poverty as well as high-income retirees would not benefit from the new legislation because their salaries are either too low or too high.
Approximately 64% of retirees already do not pay taxes on their Social Security checks because they do not make enough money, according to an analysis by the White House.
“Boosting the amount that you get to write off when you already get to write off everything does not help you at all,” Bobby Kogan, senior director of federal budget policy at the Center for American Progress, told CBS.
“The people who benefit by definition have to be richer, and the people who benefit the most are the richest people, before the tax cut phases out,” he added.
As millions of Americans brace for a tax break on their payments, the SSA will soon implement a major benefits change that puts millions at risk of having their checks cut in half.
Others will see their benefits slashed under a Social Security age switch, and an expert revealed that they will have to wait longer to retire.
