$1050 4th Stimulus Check (Social Security, SSI, SSDI, VA) & COLA 2023 UPDATE!

California "stimulus check" payments of up to $1,050 started going out on October 7th. These tax refunds for residents of the Golden State are just one example of state payments being sent to ordinary Americans, including seniors, throughout the country this year. Massachusetts and South Carolina will begin issuing payments soon as well. During the pandemic, the federal government sent three rounds of stimulus checks to most people in the U.S. For many Americans who were out of work, struggling to pay for childcare, or otherwise dealing with severe financial troubles brought on by COVID-19, these payments were a much-needed lifeline. However, the final federal stimulus checks were mailed out in 2021. For the economic woes facing Americans in 2022 – most notably, high inflation – there's been no such further relief from Uncle Sam.

However, for millions of Social Security beneficiaries, help is just around the corner. People who receive Social Security benefits will only need to wait two more days for delivery of monthly payments worth up to $1,657. This month's round of Social Security payments will begin on October 12th, with these checks directed at people who have their birthdays between the first and 10th of a month. This is due to payments to Social Security recipients being given depending on your birthdate, according to a calendar from the Social Security Administration. People who have their birthdays on a later date will have to wait at least another week before receiving their checks. Those born between the 11th and 20th of a month will receive their payment on October 19th, while people born between the 21st and 31st of a month will get paid on October 26th. Benefit payments range from $377.35 to $1,672, depending on the status of the beneficiary, while retired workers can earn payments of as much as $1,682 a month depending on income level, according to the Social Security Administration. Social Security payments are different from Supplemental Security Income payments because Social Security benefit programs are “entitlement” programs paid for with Social Security taxes that are put into special trust funds.

People can qualify to receive Social Security payments based on their work history or the history of their spouse or parents. SSI is described as a needs-based program that is intended for people with limited income and resources and does not require work credits to be eligible. A person can receive both Social Security and SSI, but anyone who receives SSI must report changes in his or her living arrangements and income to the Social Security Administration. Additionally, people who receive both forms of payment will receive SSI on the first of a month and Social Security on the third, unless the third falls on a weekend, in which they will receive their payment on the Friday before the third. So as you can see, lots of good stuff on the calendar coming up for seniors. And although it’s not nearly enough, at least seniors are getting some sort of financial relief, following a series of broken promises like the Social Security Expansion and SSI Restoration Act of 2021. It is truly disheartening when seniors are promised more than is delivered, especially after as devastating an event as the recent pandemic.

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