Why is the Social Security Administration sending two checks in December? Supplemental Security Income (SSI) recipients in the United States will be subject to a new cost-of-living adjustment beginning in December 2023.
The Social Security Administration (SSA) implemented a 3.2 percent COLA increase for 2024 in response to elevated inflation levels. However, in contrast to other Social Security recipients, this adjustment would become effective in December 2023 rather than January of the subsequent year.
Why delay until December for two checks?
Regarding your new benefit amount, a notification can be found in the message center of your My Social Security account.
It should be noted that the deadline to create an account was November 14. If you fail to do so, you will shortly receive a letter detailing your increase in full.
The Social Security Administration adheres to a rigorous timetable when disbursing monthly payments. SSI recipients typically receive their monthly payments on the initial of every month.
Potential reasons for non-arrival of your payment on the first day of each month are as follows: When the scheduled payment date is observed as a holiday or weekend.
When a holiday falls on January 1, 2024, the administration issues checks on the following business day, which is a Friday.
You will receive your January 2023 check on December 29 of this year, as opposed to January itself.
You will receive a payment with your revised benefit amount on December 29 if you are an SSI recipient. As the first day of January (a holiday) is designated for the initial increased payment, you will be granted an early receipt of the first payment of 2024.
In the event that you concurrently receive Social Security benefits and SSI, the SSI increase will not be disbursed until December. The increase in your Social Security benefits will commence on Wednesday, January 3.