If you receive Supplemental Security Income, you’re getting two checks next month thanks a scheduling quirk.
Normally, SSI payments go out on the first of every month. But since June 1 is on a Saturday this year, the payments will go out on Friday, May 31, according to a payment calendar provided by the Social Security Administration. That does mean that the payments won’t be going out in June.
SSI, though paid out by the SSA, is not the same as the social security retirement and disability insurance benefits that people might more commonly associate with the agency. To be eligible, recipients generally have to have little income, few assets, and a disability.
The maximum payment one can get through SSI this year is $943 per month for an individual. Couples can get a maximum of $1,415. In some cases, there is a so-called “marriage penalty” that reduces the payments received by couples if the breach wealth limits post-nuptials.
During the Senate’s annual Wall Street oversight hearing in December, JPMorgan Chase CEO Jamie Dimon told legislators that some of the bank’s employees had expressed not wanting their salaries to go up because they would be making too much money to receive an SSI benefit. His bank has expressed support for raising the amount of assets SSI recipients are allowed to hold.
“This definitely should be fixed,” he said.
A similar SSI shift will be happening during August and November, which will also be two-check months. September will be a no-check month, and December’s payment will go out on the 31st. The payments for January and February 2025 will also go out on the 31st, and the following March will be a no-check month. April 2025 will be a check-on-the-1st month, but next May will also be a two-check month.