The Social Security Administration’s final payment rollout for March 2025 is scheduled for Wednesday, March 26. Eligible recipients could receive stimulus checks of up to $5,108. Retirees born between the 21st and 31st of any month who began receiving benefits after May 1997 will qualify for these payments.
It’s important to note that the payments scheduled for Wednesday are not directly labeled as ‘stimulus money’ in the conventional sense (as seen with the COVID-era Economic Impact Payments). This rollout includes retirement, disability (SSDI), and survivor benefits. Here’s what you can anticipate receiving:
1. Standard monthly benefits with 2025 COLA:
– The SSA has announced a 2.5% Cost-of-Living Adjustment (COLA) for 2025, effective January 2025. This adjustment aims to increase monthly payments to keep pace with inflation.
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– Average amounts: The average retirement benefit for January 2025 is estimated at $1,976, so after the 2.5% adjustment, it comes to about $2,025 per month. SSDI averages are currently around $1,620, which adjusts to approximately $1,660.
– Maximum amounts: The maximum benefit for those retiring at age 70 is $5,108; at full retirement age (67), it is $4,018; and at age 62, it is $2,831. These amounts reflect the COLA increase.
2. Retroactive payments from the Social Security Fairness Act:
– The Social Security Fairness Act, enacted in January 2025, eliminated the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), affecting over 3.2 million beneficiaries who have non-covered pensions. The SSA commenced issuing retroactive payments in February 2025, with the majority expected by the end of March.
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– Amount: The average retroactive payment is around $6,710, covering benefits that were withheld since December 2023. If you are eligible and have not yet received it, it may arrive with your March 26 payment or separately by the end of the month, deposited into your designated bank account.
– Increased monthly payments: Starting with the April payment (covering March), those affected will see higher monthly amounts, although the March 26 payment will only reflect the pre-adjustment benefit plus COLA.
What can you expect to receive?
– If you’re a typical retiree born between the 21st and 31st, anticipate around $2,025 on March 26, which reflects your COLA-adjusted benefit.
– If you are affected by the WEP/GPO repeal, you may also receive a one-time retroactive payment of $6,710 by late March, although the timing may vary.
– The exact payment amounts will depend on your work history, retirement age, and eligibility under the Fairness Act. For details, check your “my Social Security” account or the SSA’s Fairness Act page.
