Social Security update: Third round of February payments worth $4,873 goes out in one day

The last 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 the final group of retirees in just one day.

Retirees born on or after the 21st of the month will get their payments on Wednesday, Feb. 28, according to the Social Security Administration’s calendar. Those born on or between the first and 20th of the month received their payments in one of two earlier disbursements that went out on Feb. 14, and Feb. 21.

The maximum amount each person can receive varies depending on certain factors, such as age at the time of retirement, the amount paid into Social Security, and the number of years paid into the program. But the age of retirement is
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