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CNET
a day ago
- Business
- CNET
Social Security Disability Insurance July 2025: Your Money Is Headed Out
July's SSDI checks are headed to beneficiaries soon. Here's this month's payment schedule. CNET We're nearly half way through the month of July, and Social Security Disability Insurance recipients are set to receive their payments this week or next if they didn't get it in the past two weeks. If you're not sure exactly when you should receive your payment, we have it all covered below for you. The Social Security Administration sends monthly payments to people with disabilities that prevent or limit their ability to work. Depending on their individual situation, others may qualify and can apply for SSDI as well. We'll break down the full SSDI payment schedule for the month of July and how your payment date is calculated so you'll know exactly when you can expect your check. For more, here's what you can do if your last payment never arrived, and here's the Supplemental Security Income payment schedule. If you've had SSDI since May 1997 or earlier, or also receive SSI If you started getting SSDI before May 1997, you'd usually receive your payment on the third day of every month. Note that this isn't always the case, like when the third day falls on a weekend or holiday. For 2025, this will happen in August, so you can expect to receive that month's payment one to two days earlier. If you also receive Supplemental Security Income, you'll fall into this category. You'll receive your SSDI payment on the third of every month and your SSI payment on the typical day, the first of the month. For everyone else, payments are birth date-dependent If you began receiving SSDI after May 1997 and don't also receive SSI, then your payment date is determined by the day of the month you were born. Payments are typically paid out on the second, third and fourth Wednesday of the month. Which Wednesday you get your check breaks down like this: Birthdate between Social Security check date 1st and 10th of the month Second Wednesday of the month 11th and 20th of the month Third Wednesday of the month 21st and 31st of the month Fourth Wednesday of the month Here's when you'll get your SSDI payment in July Here's when your SSDI payment should arrive this month: If you've received Social Security before May 1997 July 3 If your birthday falls between day 1 and 10 of the month July 9 If your birthday falls between day 11 and 20 of the month July 16 If your birthday falls between day 21 and 31 of the month July 23 How does 2025 COLA affect my payment? The COLA for 2025 introduced a 2.5% increase in monthly benefit checks, but exactly how much of an increase will depend on several factors. Any monthly income, how long you've received benefits and what type of benefit you receive can result in a different payment increase. Recipients should have received their COLA notice sometime in December with specific details on their case. A COLA of 2.5% will add about $48 to the average benefits check. For more, don't miss four ways you could lose your Social Security benefits and how to apply for SSI.
Yahoo
7 days ago
- Business
- Yahoo
Social Security's go-broke date pushed up in new report
The combined trust funds for Social Security are projected to run out in 2034, a year earlier than previously predicted, a board of trustees of the program's accounts said in a new report released Wednesday. The report projected that the program's Old-Age and Survivors Insurance (OASI) fund would be able to cover '100 percent of total scheduled benefits until 2033,' while the Disability Insurance (DI) trust fund is estimated to be able to pay '100 percent of total scheduled benefits through at least 2099.' But when the projections are combined, the resulting fund is estimated to only be able to cover '100 percent of total scheduled benefits until 2034, one year earlier than reported last year.' Once the reserves are depleted, the report estimates the total fund income would be able to pay 81 percent of scheduled benefits. The report said the depletion dates for the funds had advanced by about three-quarters compared with the previous year's projections. The report cited last year's passage of the Social Security Fairness Act as a key factor behind the shift in the funds' projected depletion dates. The bipartisan bill, which former President Biden signed into law in January, repealed two tax rules that proponents say have unfairly reduced benefits for many Americans who also receive government pensions. But many experts sounded the alarm over its expected price tag and raised questions of fairness around the legislation. The new report said on Wednesday that the repeal of the tax rules 'increased projected Social Security benefit levels for some workers, relative to projected benefit levels in last year's report,' while singling out the legislation's impact as 'the primary contributor to the change' in the combined trust fund depletion date this year. Two other factors the board pointed to were the trustees' extension of the 'assumed period of recovery from historically low levels of fertility by 10 years' and its lowering of 'the assumed long-term share of Gross Domestic Product (GDP) that accrues to workers in the form of labor compensation.' Medicare's hospital insurance trust fund is running out of money, and is scheduled to be depleted in 2033, three years earlier than reported last year, according to the program's trustees. The Hospital Insurance (HI) Trust Fund will be able to pay 100 percent of total scheduled benefits until 2033. At that point, it will only be sufficient to pay 89 percent of total scheduled benefits. The change is due to higher-than-expected spending on hospice and inpatient care in the earlier years of the projection, the report said. Medicare trustees have sounded the alarm on the Hospital Trust Fund for years, though the warnings have mostly been ignored by Congress, as lawmakers view Medicare reforms as a political third rail. The trustees recommended Congress increase the standard payroll tax rate or reduce Medicare spending to address future shortfalls. Nathaniel Weixel contributed. Updated at 5:07 p.m. EDT Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
7 days ago
- Business
- Yahoo
Cassidy, Kaine propose new funding trust for Social Security
Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed a new method to account for the expected lapse in the Social Security Trust Fund. A June report from the program's Old-Age and Survivors Insurance (OASI) fund would only be able to cover '100 percent of total scheduled benefits until 2033,' while the Disability Insurance (DI) trust fund is estimated to be able to pay '100 percent of total scheduled benefits through at least 2099.' However, Cassidy and Kaine say trust fund investments should be diversified in order to maintain the available Social Security benefits. 'We propose creating an additional investment fund — in parallel to the trust fund, not replacing it — that would be invested in stocks, bonds and other investments that generate a higher rate of return, helping keep the program from running dry,' Cassidy and Kaine wrote in a Tuesday op-ed for The Washington Post. The two estimate that it would take a $1.5 trillion up-front investment into the fund to get it going, while suggesting the Treasury fund the accounts for 75 years. 'The Treasury would temporarily shoulder the burden of providing benefits to Social Security beneficiaries — but when the new fund's 75 years are up, it would pay the Treasury back and supplement payroll taxes to help fill the future gap,' the senators said. Cassidy and Kaine said their program would work, citing the National Railroad Retirement Investment Trust, which was created by Congress in 2001 and successfully provided retirement benefit payouts for railroad workers. 'The trust has remained firmly in the black, with returns even exceeding expectations at some points and with payments consistently remaining reliable and on schedule,' the lawmakers said. 'Our proposal is also consistent with virtually every other pension plan — state and private — currently operating in our country, and it matches the strategy most nations use to fund their retirement programs,' they added. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
09-07-2025
- Business
- Yahoo
Cassidy, Kaine propose new funding trust for Social Security
Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed a new method to account for the expected lapse in the Social Security Trust Fund. A June report from the program's Old-Age and Survivors Insurance (OASI) fund would only be able to cover '100 percent of total scheduled benefits until 2033,' while the Disability Insurance (DI) trust fund is estimated to be able to pay '100 percent of total scheduled benefits through at least 2099.' However, Cassidy and Kaine say trust fund investments should be diversified in order to maintain the available Social Security benefits. 'We propose creating an additional investment fund — in parallel to the trust fund, not replacing it — that would be invested in stocks, bonds and other investments that generate a higher rate of return, helping keep the program from running dry,' Cassidy and Kaine wrote in a Tuesday op-ed for The Washington Post. The two estimate that it would take a $1.5 trillion up-front investment into the fund to get it going, while suggesting the Treasury fund the accounts for 75 years. 'The Treasury would temporarily shoulder the burden of providing benefits to Social Security beneficiaries — but when the new fund's 75 years are up, it would pay the Treasury back and supplement payroll taxes to help fill the future gap,' the senators said. Cassidy and Kaine said their program would work, citing the National Railroad Retirement Investment Trust, which was created by Congress in 2001 and successfully provided retirement benefit payouts for railroad workers. 'The trust has remained firmly in the black, with returns even exceeding expectations at some points and with payments consistently remaining reliable and on schedule,' the lawmakers said. 'Our proposal is also consistent with virtually every other pension plan — state and private — currently operating in our country, and it matches the strategy most nations use to fund their retirement programs,' they added. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
08-07-2025
- Business
- The Hill
Cassidy, Kaine propose new funding trust for Social Security
Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed a new method to account for the expected lapse in the Social Security Trust Fund. A June report from the program's Old-Age and Survivors Insurance (OASI) fund would only be able to cover '100 percent of total scheduled benefits until 2033,' while the Disability Insurance (DI) trust fund is estimated to be able to pay '100 percent of total scheduled benefits through at least 2099.' However, Cassidy and Kaine say trust fund investments should be diversified in order to maintain the available Social Security benefits. 'We propose creating an additional investment fund — in parallel to the trust fund, not replacing it — that would be invested in stocks, bonds and other investments that generate a higher rate of return, helping keep the program from running dry,' Cassidy and Kaine wrote in a Tuesday op-ed for The Washington Post. The two estimate that it would take a $1.5 trillion up-front investment into the fund to get it going, while suggesting the Treasury fund the accounts for 75 years. 'The Treasury would temporarily shoulder the burden of providing benefits to Social Security beneficiaries — but when the new fund's 75 years are up, it would pay the Treasury back and supplement payroll taxes to help fill the future gap,' the senators said. Cassidy and Kaine said their program would work, citing the National Railroad Retirement Investment Trust, which was created by Congress in 2001 and successfully provided retirement benefit payouts for railroad workers. 'The trust has remained firmly in the black, with returns even exceeding expectations at some points and with payments consistently remaining reliable and on schedule,' the lawmakers said. 'Our proposal is also consistent with virtually every other pension plan — state and private — currently operating in our country, and it matches the strategy most nations use to fund their retirement programs,' they added.
