Some Social Security beneficiaries will receive their monthly benefits slightly earlier than usual in February and March due to a quirk in the calendar.
The Social Security Administration (SSA) ordinarily disburses payments for Supplemental Security Income (SSI) on the first day of a given month. The SSI program provides monthly payments to eligible older adults who have little or no income, as well as to disabled individuals, which is different from Social Security's standard retirement benefits.
When the first of the month falls on a weekend or a federal holiday, SSI payments for that month are made on the last business day of the preceding month to ensure that beneficiaries have received their funds before the new month begins, and they face potential expenses.
That scenario played out at the start of January, with benefits paid on Dec. 31 rather than Jan. 1 due to New Year's Day being a federal holiday, and will occur again in the next two months when SSI benefits are disbursed.