December 11, 2024, will be a significant day for visitors to the US. For those born between January 1st and October 10th of any given month, this is the final payment for 2024.
Retirees and those receiving disability benefits are included in this. Since the 2.5% increase won’t occur until the first payment in January 2025, it won’t appear on this check just yet.
This marks the end of the official Social Security distribution schedule and the final payment of the year for this set of beneficiaries. This allows them to prepare for the adjustments to their payments in the upcoming year and plan their year-end expenses.
Requirements to receive the December 11 payment
Beneficiaries must fulfill the following requirements in order to be eligible for the payment:
- Be enrolled in the Social Security retirement or disability program.
- Be born between the 1st and 10th of any month.
Payments are made based on the dates of birth. Payments will have already been made to those whose birthdays fall outside of this range. Tracking your income and preventing budget issues require knowing when payments are due.
The beneficiary should contact Social Security immediately to report any issues and follow the regular procedures for resolving any delays or problems if the payment does not arrive on time.
Social Security Planning for the end of 2024 and the start of 2025
Although the 2.5% COLA rise will not be included in the December 11 payment, it is crucial that recipients review their financial situation and prepare for the changes that will occur in the upcoming year. The following adjustments will be made to payouts between 2024 and 2025:
| Category | Maximum Payment in 2024 | Projected Maximum Payment in 2025 |
|---|---|---|
| Retirement or Disability | $3,822 per month | $4,018 per month |
In January 2025, the first check containing the updated COLA amount will be issued. By doing this, payments will be guaranteed to reflect the current cost of living.
For those who rely on Social Security to cover their essential expenses, the December 11 payment remains crucial until that time.
It is critical to understand when payments are due and upcoming changes to the Social Security program in order to make prudent financial decisions and maintain economic stability as the year draws to a close.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.