Up To $1,682 Social Security Benefits Received Before Year Ends

Up to $1,682 in Social Security retirement benefits were received by beneficiaries before the year ends. The last batch of payments received was intended for beneficiaries who are born on the 21st to the 31st of this month, says MARCA.

Social Security Benefits

On December 28, a maximum of $1,682 worth of retirement benefits were received by Social Security beneficiaries. The beneficiaries of these payments are those born on the 21st to the 31st of this month. The Social Security Administration (SSA) has released the retirement benefits to its beneficiaries in three batches.

The first batch was on the second Wednesday of the month and the next two payments were on the two following Wednesdays. The first batch of payments was already released last December 14. The beneficiaries of these payments were those born on the 1st to the 10th of this month. The second batch was on December 21 and the beneficiaries were those born on the 11th to 20th of this month. The third and final batch was on December 28 for beneficiaries whose birthdates fell on the 21st to the 31st of this month.

SSA May Go Bankrupt

According to MARCA, critics announced that the Social Security Administration may go bankrupt in 2034. As science and medication evolve, people also live longer. That being the case, a larger number of people are eligible to receive Social Security benefits, while the number of people financing the benefits by paying taxes is continuously decreasing. According to the Committee for a Responsible Federal Budget, if the Congress will not be doing any action to stop this prediction, SSA may actually go through bankruptcy.