The Social Security Administration is responsible for distributing monthly payments to several groups of individuals. These groups include retired workers, survivors, and beneficiaries of Social Security Disability Insurance and Supplemental Security Income (SSI). The agency follows a particular payment schedule, releasing funds on varied dates throughout each month. In a specific scenario, if the first day of the month happens to be a weekend or a holiday, SSI payments are advanced to the preceding business day. Similarly, payments proceed early when the third day of the month, the designated date for those who began receiving benefits prior to May 1997, falls on a non-business day. Remaining payments dispatch on Wednesdays, adjusted according to each beneficiaries’ date of birth, and also advanced if it lands on a holiday.

Typically, retired workers have been receiving an average of a bit over $1,900, whilst maximized SSI payments have reached $943 for individuals, and $1,415 for couples. Furthermore, the Social Security Administration makes an annual cost-of-living adjustment (COLA) every October. This adjustment is based on inflation and ensures that beneficiaries’ purchasing power remains steady. This data is compiled from the Consumer Price Index for Urban Wage Earners and Clerical Workers for the third quarter of the present year and compared to figures from the same quarter of the previous year. Consequently, the percentage difference between these two data sets becomes the COLA for the succeeding year.

If you need further information about your Social Security payments or have queries related to this topic, you can visit eddcaller.com. They are equipped to guide you on how to contact the EDD, provide EDD customer service, and even advise you on the fastest way to get through to the EDD. This platform is an easy and efficient way to access useful information and get assistance with your social security needs.