One reason Social Security checks need to go out Aug 3rd.

[William769]

Social Security pays one Month behind So the check for Aug 3rd is actually July's payment.

This scare tactic bullshit needs to stop now!

[SpiralHawk]

1. " Boo-freaking-hoo. Too freaking bad. Sneer." - RepubliBaggers Against America (R)

"Listen Granny and Gramps, after we toss your wrinkled keesters under the freaking bus - smirk - you can just pull yourselves up by your own damned Swiss Bank accounts like our worshipful Republicon Billionaire PuppetMasters do. Smirk. Sneer."

- RepubliBaggers Against America (R)

[dkf]

2. If there is no money in the treasury there is no money.

[William769]

5. To begin with Social Security has it's own trust fund.

But lets put that aside for the moment. If Social Security can be paid a month behind why can't other bills? Is it people on Social Security don't matter? And if that the case there are 57 million votes up for grabs in 2012.

[dkf]

10. They don't sequester the funds. It all goes into the one treasury account that is out of money.

The social security fund is a booked asset with booked liabilities in the treasury's account. So if the treasury can't get access to the funds then the SS fund can't collect.

[William769]

11. That makes no sense.

The Social Security trust fund has more money in it than the Government says is in the treasury.

Who has access to the Trust fund? Someone has to.

[dkf]

12. It's invested in non negotiable treasury bonds

So they can't sell it on the market. Only the treasury can redeem them. So if the treasury has no cash then the SS can't get accesss to it's funds.

[spartan61]

3. I believe you are incorrect on this.

The SS checks are not paid in arrears. When my Mom died on the 25th of October, we had to return the SS check because the check was for the whole month of October and there were still six days left in the month. It's not even pro-rated.

[William769]

6. I think not.

"So social Security benefits are
always paid one month behind.
So the check you get, the direct
deposit you get is your payment
for the previous month."

http://www.socialsecurity.gov/transcripts/video/webinar-transcript.htm

[RebelOne]

4. My SS is deposited in my account

on the third Wednesday of each month. So I don't see how that could be the July payment.

[William769]

7. See post # 6.

[FarCenter]

8. Calendar and FAQ from the SSA

http://www.socialsecurity.gov/pubs/calendar2011.pdf shows the payment dates for 2011.

Also Benefit payment dates for Social Security

When are Social Security benefits paid by direct deposit or check?

Social Security benefits are paid each month, but for the previous month. For example, the check received in June is for the month of May.

When you applied for benefits, your benefit award notice told you when you can expect to receive your benefit payment. Generally, the day in the month on which you receive your benefit depends on the birth date of the person on whose record you receive benefits. For example, if you receive benefits as a retired or disabled worker, your benefit will be determined by your birth date. If you receive benefits as a spouse, your benefit payment date will be determined by your spouse's birth date.

Here's how it works:

 Birth date on     Benefits paid on 
 1st - 10th        Second Wednesday 
 11th - 20th       Third Wednesday 
 21st - 31st       Fourth Wednesday 

http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/8/~/benefit-payment-dates-for-social-security

[William769]

9. Thanks.

[madrchsod]

13. yup....plus there are months that i have to wait 5 weeks to get a check