September SSI Payments Affected by Calendar Change

A recent report by the Committee for a Responsible Federal Budget (CRFB) warns that if the Social Security trust fund is depleted by 2033, typical dual-income couples could lose $16,500 annually in benefits due to an expected 21% cut. Low-income couples would face a $10,000 reduction, while high-income couples could lose as much as $21,800. Meanwhile, about 7.5 million Americans relying on Supplemental Security Income (SSI) will not receive their checks for September due to a calendar quirk, as payments were made two days earlier on August 30. This adjustment has confused some recipients, especially those unfamiliar with the payment schedule changes. Additionally, Allianz Life highlights that over half of Americans are unaware of how Social Security affects their retirement planning, suggesting a need for better educational resources. With the Social Security Administration planning to introduce an online application process for SSI benefits in December, accessibility efforts are underway to streamline the application experience.