Social Security update: Third round of January payments worth $4,873 go out Wednesday

The final round of January Social Security payments, worth up to $4,873 for top earners who retire at 70, went out to the last group of retirees on Wednesday.

Retired seniors born on or after the 21st of a month should have received their first payment of 2024 by Wednesday, Jan. 24, according to the Social Security Administration’s schedule. Retirees born on or between the first and 20th of a month should have received their payments in an earlier disbursement.

The amount each person gets can vary based on the age of recipients at the time of retirement, the amount they paid into Social Security, and the number of years they paid into the program. However, the main determining factor for the maximum amount they can receive is the age
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