The government is planning to provide $1489 or $1848 stimulus checks to the retirees. As per the news report for 2024, financial aid will be given to individuals aged 65 years and above. The SSI (Social Security Administration) is responsible for the distribution of the checks.
The financial aid is intended to be provided to individuals who are visually impaired or disabled. The scheme focuses on being provided to such individuals to help them cope with their financial problems. Even if the individuals are receiving Social Security Disability Insurance, they are still eligible.
Eligibility Criteria For Stimulus Checks 2024
- Individuals who did not receive benefits before May 1997 are eligible for Stimulus Checks for Retirees.
- The payment for individuals born between January 1 and December 10 will be December 13, and for those born between November 11 and December 20, it will be December 20. If an individual’s birthday falls after December 20, then the payment would be received on December 27.
- The retirement benefits are now (that is 2024) up to $4873 in cash, unlike $4555 in the previous year, which is 2023.
Payment Criteria For Stimulus Checks 2024
- Individuals can get $1848, which is the average payout for Stimulus Checks. The amount would be given only once to applicants. Individuals might get $59 extra due to the COLA hike.
- The maximum and average payment amount as stated on the dates, would remain the same for everyone.
- Retirement and disability amounts may be the same according to the date of birth provided by the individuals.
- An individual can now get up to $3822 in 2024, which is more than the previous year.
USA $1489 Or $1848 Stimulus Checks 2024 Details
| Post Title | $1489 Or $1848 Stimulus Checks for Retirees |
| Country | USA |
| Department Name | Social Security Administration (SSA) |
| Payment Amount | $1489 Or $1848 |
| Category | Government Aid |
| Payment Dates | Mentioned Below |
| Official website | ssa.gov |
Tax On The Benefits
- Individuals might have to pay tax according to their retirement income. The income should be below the specified bar set by the government.
- If a married couple fills up for the benefits with a household income between $32000 and $44000, then they might have to pay 50% of the benefits. If the income exceeds, they would be paying 85% of the benefit.
- For single filers, the earnings between $25000 and $34000 would be eligible to pay tax for 50% of the benefit. Taxes might increase to 85% of the benefit if the income is above $34000.
- For further information, contact your local Social Security Office or check online.
Read Also – SUSI Payment Dates 2024 – Check Eligibility, Grant Amount