Social Security update: Second round of June payments worth $4,873 goes out in one day

Millions of Social Security recipients are set to receive their June retirement checks, worth up to $4,873 per payment for those who retire at 70 years old, on June 18.

Social Security beneficiaries who were born from the 11th through the 20th of a month will receive their regular monthly checks from the Social Security Administration on Tuesday.

Recipients who have birthdates from the 1st through the 10th of a month received their June checks earlier this month, while those who have birthdates from the 21st through the 31st of any month will receive their monthly checks during the third wave of distribution for this month’s payment.

Regular Social Security payments are based on the earnings throughout a retiree’s life and have no limits based on income, but the amount each check is worth depends on the age when a person retires.

Those who retire at 67 receive a maximum check of $3,822, while those who retire at 62 receive up to $2,710, and those who delay their retirement to 70 receive the largest payment of $4,873 per month, per the Social Security Administration.

The monthly payments occur in three waves, all on Wednesdays (or Tuesdays if Wednesday is a federal holiday). The waves of checks are divided by the days of the month on which the recipient was born.

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Because Wednesday is Juneteenth, a federal holiday, the second wave of payments will be issued on Tuesday. The first wave of payments this month was sent out this week, while the third wave of payments will be sent out on June 26.

These Social Security payments are different from other checks given out by the SSA, such as disability insurance or Supplemental Security Income, which are sent out on a different schedule.