Social Security was created in 1935 to pay retired workers a continuing income after retirement.
An average of 67 million Americans per month will receive a Social Security benefit in 2023, according to the U.S. Social Security Administration (SSA). Typically, these are payments that come on a set date each month.
But one VERIFY viewer recently asked our team if Social Security recipients will receive a bonus payment in June.
Will Social Security recipients receive a bonus payment in June?
No, Social Security recipients will not receive a bonus payment in June.
WHAT WE FOUND
Social Security payments are sent out on a strict schedule. Most recipients typically receive their payments on the second, third or fourth Wednesday of each month, depending on their birth date.
But people who receive Supplemental Security Income (SSI), such as those who are blind, disabled, or at least 65 years old with very limited financial resources, usually get those payments on the first of the month, according to AARP. This can be a problem if the first falls on a federal holiday or on a weekend when banks are closed, like it does on Saturday, July 1, 2023.
As a workaround, SSI payments are sent out the nearest previous business day. This means that in June, SSI recipients will get paid on June 1 and June 30. But the latter payment is not a bonus payment. Instead, it’s an advance for the month of July.
In addition to June, SSI recipients will also receive two advance payments in September (for October) and December (for January). AARP says that the same schedule adjustment also applies to other Social Security payments if the date falls on a holiday. You can see the full payment schedule for 2023 here.
If Congress doesn’t raise the debt ceiling, the U.S. government could default on its financial obligations as soon as June 1. This has led some VERIFY viewers to question whether they would receive their Social Security payments in the event of a default.
If the U.S. defaults on its debt, Social Security payments may be missing or late. But there’s no definitive answer. That's because the U.S. government hasn’t outlined a framework for prioritizing certain payments over others. Click here to read more about what a default could mean for your Social Security check.