Social Security Update: August 10 Payments Could Reach $4,873 for Eligible Recipients

On July 10, hundreds of Americans might receive a significant Social Security payment. The Social Security Administration (SSA) is sending out direct deposits to people who started getting benefits from May 1997 onward and have birthdays between the 1st and 10th of any month.

These payments could be as high as $4,873, but only if certain conditions are met. In this article, we’ll explain who qualifies for these payments, the requirements for getting the maximum amount, and the payment schedule for other birthdays in July.

Who Will Get Payments on July 10?

If you have a birthday between the 1st and 10th of any month and started collecting Social Security benefits from May 1997 onward, you could receive a payment on July 10. To get the maximum payment of $4,873, you must have started collecting your benefits at age 70. However, simply filing at age 70 isn’t enough—you also need to meet a few other criteria.

Requirements for the Maximum Payment

To qualify for the maximum Social Security payment on July 10, you must meet these conditions:

• File at Age 70: You should have started collecting your Social Security benefits when you turned 70.
• Work History: You must have worked and paid payroll taxes for at least 35 years.
• High Earnings: You need to have earned the maximum taxable amount for Social Security for 35 years.

If you meet all these criteria, you can receive the maximum payment. If not, you will receive a smaller amount based on your work and earnings history.

Payments for Other Birthdays in July

If your birthday is later in the month, your payment date will be different:

• July 17: If your birthday falls between the 11th and 20th.
• July 24: If your birthday is between the 21st and 31st.

The eligibility requirements for these payments remain the same: you must have filed for Social Security at age 70, worked in jobs covered by the SSA, worked for at least 35 years, and earned the maximum taxable amount for 35 years.

Special Payment on July 3

There is also a special payment on July 3, but it’s only for those who started receiving benefits before May 1997. To get this payment, you must be at least 97 years old. This group is part of an older system of payments and has different eligibility requirements.

If you started getting Social Security benefits from May 1997 onward and have a birthday between the 1st and 10th, you could receive up to $4,873 on July 10, provided you meet all the necessary requirements. It’s essential to understand these conditions to maximize your benefits.

For those with birthdays later in July, payments will be on July 17 and July 24. Remember, if you don’t meet all the criteria for the maximum payment, your payment amount will be lower, but you will still receive benefits based on your work history.

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