Extra payment from Social Security
Some people received an extra money from Social Security this month. It wasn’t a full payment. My boss and his wife got $217 between them. Do you know why?
Terry Says
Yes, but it took me a day and several calls to find out! If you were still working, your current earnings may impact and increase your SS payment. They look back at the past 9 months and take all those small monthly adjustments and deposit them into your account at one time — in October. This is separate from your regular monthly check. And your base check will be adjusted next year to reflect that higher year of earnings, along with the COLA. It will be hard to notice the small increase in next year’s base check, when you consider the COLA addition — and any auto-deductions for Medicare Part B!
