Social Security update: Next June installment of $4,873 disburses in three days

In three days, millions of recipients of Social Security checks are set to get their retirement payments for June, worth up to $4,873 per payment for those who retire at 70 years old.

On June 18, those who receive Social Security and were born from the 11th through the 20th of their birth month will get their regular monthly checks sent to them from the Social Security Administration.

Those who have birth dates from the first through 10th of their birth month already received their monthly check earlier this month, while those who have birth dates from the 21st through 31st of any month will get their monthly payment for this month during the third wave of distribution later in June.

The payment schedule occurs in three waves each month, with all occurring on Wednesdays — or Tuesday if Wednesday is a federal holiday. The waves of checks are divided by the days of the month a recipient was born.

Because June 19 is a federal holiday, Juneteenth, the second wave of payments will be issued on June 18, a Tuesday. The first wave of payments this month was sent out on June 12, while the third wave of payments will be sent out on June 26.

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 is dependent on the age when a person retires.

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Citizens who retired at the current retirement age, 67, receive a maximum check of $3,822, while those who retired at 62 years old get up to $2,710 and those who delay their retirement to age 70 get the largest payment from the program of $4,873 per month, according to the SSA.

These Social Security payments are different from other checks given out by the SSA, such as disability insurance and Supplemental Security Income.