Social Security checks go out August 26. Will you get paid? - USA Today
The Social Security Administration is distributing the final wave of August payments to beneficiaries born between the 21st and the end of the month. The article also highlights ongoing concerns regarding the program's long-term solvency and potential future benefit cuts.
Why it matters
Millions of retirees rely on these payments for essential living expenses, and the program's long-term funding shortfall remains a critical national policy issue.
Hear this story The third and final wave of Social Security payments for August is scheduled to be distributed this week, following a normal schedule.
Social Security benefits – paid mostly to recipients who are older or retired – are typically scheduled to go out on Wednesdays .
Social Security faces a shortfall as soon as 2032. If Congress does nothing, research suggests, retirees will see a 28% cut in monthly benefits. That has caused several groups to propose their own ways to fix the program.
Among them was a Washington think tank that caused a stir with a paper that proposed capping annual Social Security benefits at $100,000 to shore up the retirement trust fund.
Here’s what you need to know about this week’s Social Security payments.
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