Social Security payments coming soon for eligible retirees
March 19 will be the second Wednesday payment for eligible retirees. It has been confirmed by the Social Security Administration‘s payment schedule that a new payday is on the way.
Those retirees who qualified for a monthly payment on March 3 or March 12 are not eligible. The main requirement that Social Security has to do with the day you were born. However, you cannot receive it if you are receiving SSI (Supplemental Security Income) and if you got benefits before May 1997.
Social Security and eligibility for March 19
Retirees who qualify for the Social Security payment on the second round of Wednesday checks and direct deposits must:
- have been born from 11-20
- not be on SSI
- be on Social Security after April 30, 1997
- remain eligible and not break SSA rules
The thing is, some retirees meet most requirements, but they were born from the 21st to the 31st. Then, they will have to wait for the Social Security payment due on March 26, 2025.
The Administration can issue monthly payments of up to $5,108 if you were a high earner for 35 years or more. All the 4 conditions are mandatory:
- filing at the age of 70 is required
- working for 35 years
- having jobs that pay payroll taxes to SSA
- earning the contribution and benefit base for 35 years
Those who meet the last 3 requirements but file at Full Retirement Age will receive up to $4,018. Early filing at 62 is possible but it reduces your Social Security payment by 30%. The maximum amount at this age is $2,831. Average payments are worth $1,978.
The contribution and benefit base refers to the taxable maximum. For your information, this taxable maximum is annually updated. Therefore, it always goes up when inflation does so. In 2025, the taxable maximum is $176,100, up from $168,600 in 2024. So it is such a high amount that few workers can earn it for 35 years.