Certain recipients of Social Security benefits are set to receive their monthly retirement payments worth up to $4,194 in only nine days.
The amount recipients receive from these checks will depend on various factors. To get the maximum payment of $4,194, a person must have retired at 70, while people who retired at 67 can receive a maximum check of $3,345, and anyone who retired at 62 is able to get as much as $2,364 per month, according to the Social Security Administration.
The payments issued on Dec. 21 mark the second wave of checks and are intended for those born on the 11th through 20th of their birth months. The first wave of checks is always sent out on the second Wednesday of each month to those born on the 1st through 10th of their birth months, which for this month will be Dec. 14. The third and final wave of monthly checks to be sent out this month will be for those born on the 21st through 31st of their birth months and will be sent on Dec. 28, according to the SSA calendar.
Analysts estimate Social Security insolvency may occur as early as 2034 unless action is taken by Congress to prevent it.
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