November highlights- The presidential election, Thanksgiving and getting an extra Social Security check

In a recent report by KTLA 5 in Los Angeles, it was highlighted that approximately 7 million Supplemental Security Income (SSI) beneficiaries will be receiving an additional check in November. This month is significant not only for the upcoming presidential election and Thanksgiving but also for those relying on SSI.

Typically, SSI recipients receive a payment from the Social Security Administration (SSA) on the first of each month. If the first falls on a holiday or weekend, the payment is made on the previous business day.

In August, beneficiaries received two payments: one for that month and one for September, with no payment in September itself. A similar situation will occur in November, where recipients will again receive payments for both the current month and December due to December 1st falling on a Sunday. The SSI check for January 2025 will be issued on December 31, but it’s worth noting that the first of January, February, and March will also land on weekends or holidays next year. On January 31, an SSI check will be attributed to February, while the check for February 28 will be for March. March will not have any payments, and normal payment schedules will resume in April.

Recipients will receive all their scheduled annual payments, but if they get two checks in one month and none in another, they may need to adjust their budgets accordingly.

For those receiving regular social security benefits, November and December payments will remain unaffected. However, they could be influenced by the cost-of-living adjustment (COLA) recently announced by the SSA.

The most recent COLA is set at 2.5%, which is lower than last year’s 3.2% and the 8.7% in 2022, reflecting a trend of slowing inflation. This adjustment is determined by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) as outlined by the Labor Department.