Some beneficiaries will get a Social Security payment with extra money this week. The Social Security Administration (SSA) confirmed the payment scheduled to be mailed on March 13th to all retirees who claimed their benefits after May 1997 and whose birth dates range between the 1st and the 10th.
So far, the SSA has distributed the first round of payments on the 1st of March. As the 3rd of March fell on a Sunday, beneficiaries got a double payment last Friday. After one week without Social Security benefits, retirees and SSDI beneficiaries will receive new payments starting Wednesday, March 13th.
Social Security beneficiaries will also get an extra 3.2% on their checks due to the cost of living adjustment (COLA) that was established last year in October. This extra money will allow retirees and beneficiaries to keep pace with inflation and help them cover all their essential expenses, such as housing, food, healthcare, entertainment, transportation, taxes, and potential debt payments.
March Social Security payment schedule
Several variables could cause the entire Social Security payment schedule to vary. For instance, the timeline for paying SSI benefits differs from those of other types of aid. On March 1, 2024, you will receive your SSI payment for March 2024, assuming you are eligible to receive one.
Here you can find the Social Security payment schedule according to the Social Security benefit program you qualify for and payment dates in line with your birth date range. To get the complete payment schedule for the year, check the Schedule of Social Security Benefit Payments 2024.
| Payment Received | Condition | |
| March 1st | Social Security |
|
| March 13th | Social Security | The birth date falls between the 1st and 10th of the month |
| March 20th | Social Security | The birth date falls between the 11th and 20th of the month |
| March 27th | Social Security | The birth date falls after the 20th of the month |
The principal benefit recipient’s birthdate determines the benefit payment schedule. Whether you are getting survivor’s benefits, child benefits, or benefits based on benefits awarded to another individual, the day your benefits arrive is decided by the day that person was born. You will be paid ahead of schedule if your planned payment date falls on a weekend or holiday. These payments will be made on the business day that comes right before the day you anticipate getting paid.
Social Security recipients would get an extra $200 a month
A bill has been proposed in Congress that would increase Social Security payments by $200 per month. The law would increase the amount that existing Social Security recipients or those who turn 62 in 2023 get each month by $200, for a total increase of $2,400 annually.
According to Democratic Sen. Bernie Sanders, I-Vermont, who formally reintroduced the Social Security Expansion Act on Feb. 13th, their job is not to reduce Social Security at a time when almost half of seniors do not have any retirement savings and nearly half of seniors are struggling to make ends meet on less than $25,000 annually. Therefore, Sanders highlighted that their responsibility is to increase Social Security benefits so that every American senior may retire with the respect they deserve and every person with a disability can have the stability they require.
The increases would be paid for by raising the upper limit on wages subject to Social Security taxes. Currently, Social Security taxes are applied to income up to $162,000, as income above that threshold is not subject to taxes. This cap would be lifted by the law, making all income over $250,000 liable to the Social Security payroll tax.