So, for example, if your earnings in 2021 were higher than one of your previous highest 35 years of wage-indexed earnings, then you could probably expect to actually receive the increase in the latter part of 2022. Social Security automatically recomputes benefits to include higher years of earnings, but those recomputations are generally not done until the fall of the year following the year of the higher earnings. So, in order to increase your benefit rate you would need to earn more in a year than you did in one of your previous highest 35 highest wage-indexed earnings years, not the lowest of your actual earnings years. Wage-indexing converts a person's historical annual earnings to amounts more reflective of current day dollars. Social Security retirement benefits are calculated based on the highest 35 years of a person's earnings, but it's the highest 35 wage-indexed earnings years that are used ( ). The short answer is yes, Social Security should recalculate your benefit rate whenever you earn more in a year than you did in one of your previous highest 35 years of wage-indexed earnings. Hope you can help with this as I get different answers from SS. much more than some of the years they calculated my rate on. I have continued to work an would like to know if they will recalculate my 35 years to include my wages now. For instance, April 1 fell on a Saturday this year, so SSI recipients received their April payments a day early on March 31 and their Social Security payment on April 3.I delayed drawing my SS until age 70. However, those payment dates change if the first or third day of the month falls on a weekend or a holiday. Instead of getting your payments on a Wednesday, you'll receive your Social Security payment on the third day of each month and your SSI on the first day of each month. If you received Social Security benefits before May 1997, or if you receive both Social Security and SSI, the payment schedule is different. Read more: Turning 67 in 2023? What to Know Before You Retire What if I receive both Social Security and SSI?
Payments for SSI recipients generally arrive on the first of each month with a few exceptions we get into below. If your birthday falls between the 21st and 31st of the month, your payment will be sent out on the fourth Wednesday of the month.If your birthday falls between the 11th and 20th of the month, your payment will be sent out on the third Wednesday of the month.If your birthday falls between the 1st and 10th of the month, your payment will be sent out on the second Wednesday of the month.Which day you receive your check depends on your birth date. The Social Security Administration typically sends out payments on the second, third and fourth Wednesdays of each month. How are Social Security payment dates determined? May 24: Social Security payments for those with birthdays falling between the 21st and 31st of any given month.May 17: Social Security payments for those with birthdays falling between the 11th and 20th of any given month.
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