Social Security update: Second round of February payments worth $4,873 goes out in four days

A second wave of February’s three Social Security payments, worth up to $4,873 for the highest earners who retire at 70, will go out to retirees in four days.

Retired seniors born on or between the 11th and 20th of their birth month will receive the second payment on Wednesday, Feb. 21, according to the Social Security Administration’s calendar. 

Retirees born on or after the 21st of the month will get their payments on Wednesday, Feb. 28, while those who were born between the first and 10th of the month received theirs on Feb. 14. 

There are several factors in the maximum amount each person can receive, such as their age at the time of retirement, the amount they paid into Social Security, and the number of years they paid into the program. 

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