First batch of August Social Security checks for retirees issued today

The Social Security Administration started disbursing the first tranche of August retirement benefits today, targeting individuals whose birthdays fall between the 1st and 10th of each month, with the maximum monthly check capped at $5,181. A second distribution is set for Aug. 19 for those born between the 11th and 20th, and a third on Aug. 26 for birthdays on or after the 21st. Benefits become available at age 62, and the amount varies based on retirement age, total contributions, and years of coverage, ranging from $2,969 for a 62-year-old retiree to $5,181 for a 70-year-old.

Recipients can obtain personalized estimates using the SSA’s online calculator. The program is financed through payroll taxes, and trustees warn the trust fund could run out by 2032 without congressional action.