New Social Security payments up to $4,194 start going out this week

More money will be distributed to Social Security recipients in the United States. The new Social Security payment will begin going out n...

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  • More money will be distributed to Social Security recipients in the United States.
  • The new Social Security payment will begin going out next week.
  • Those who qualify could receive up to $4,194.

Social Security claimants will begin receiving higher payments next week after the new cost of living adjustment (COLA) rose to 5.9% in 2022. This will impact 64 million claimants in the United States.

The Sun noted that this figure was adjusted for inflation, which has soared in recent months due to high consumer demand. Specifically, the COLA is calculated from data from the Consumer Price Index for Wage Earners and Urban Employees (IPC-W), which measures changes in the cost of popular goods and services.

Social Security payments are higher this month

Partner Insurance Payment
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Consequently, The Sun explained that the average Social Security benefit in 2022 will increase by $92. That is from $1,565 to $1,657 per month. Additionally, the maximum monthly Social Security benefit this year will be $4,194.

To get the maximum Social Security payment, you have to earn six-figure sums throughout your career, work at least 35 years, and delay your claim. New Social Security benefits will be issued starting on the second Wednesday of each month for those on born on the 1st through the 10th of the month, The Sun reported.

When will beneficiaries receive the Social Security payment?

Partner Insurance Payment
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Those born between the 11th and the 20th will receive their benefits on the third Wednesday of the month, and applicants born between the 21st and the 31st will get their checks on the fourth Wednesday of the month. This month, applicants will receive their Social Security payment on January 12, 19, and 26.

However, The Sun emphasized that Social Security payment dates can be altered if they are affected by a holiday. For example, Supplemental Security Income (SSI) applicants received two checks last month due to the holidays.

SSI payments

Partner Insurance Payment
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SSI claimants typically receive their checks on the first of each month. In this case, they will not receive another check until February 1, The Sun said, adding that the Social Security Administration (SSA) manages SSI, a program designed to help those over 65, as well as the blind and disabled who have little or no income.

On the other hand, Social Security beneficiaries aren’t the only people who could receive payments this year. Some states, like Vermont, are offering workers a one-time payment for workers who move there after February 1 of this year.

Who can qualify for payments for up to $7,500?

social security payment
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The big question that you may be asking yourself now is: Who will receive this generous payment? Well, it’s a check from the state of Vermont. The new grant for remote and relocating workers is available to individuals who relocate to the state and become residents beginning February 1, 2022.

There are two grant programs for workers who move to Vermont. One is the Remote Worker Grant and the other is the Relocating Worker Grant. They offer reimbursement grants for up to $7,500 to workers who move to that state as of July 1, 2021.

Requirements to qualify for the Remote Worker Grant

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To be eligible for the Remote Worker Grant you must be located in Vermont as of February 1 and working full-time remotely for an out-of-state employer in an office, home, or shared workspace located within Vermont. Also, the applicant’s salary must be equal to or higher than the state minimum wage, The Sun explained.

Is the money only for remote workers? The answer is no. The state is offering other financial aids as part of its Relocated Worker program, similar to assistance for remote workers. Through this incentive, qualified workers can receive up to $7,500.

The Worker Relocation Grant

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This program incentivizes workers to move into the state to work for local employers. Like the remote worker grant, individuals must be subject to the Vermont income tax and earn the state’s minimum wage, which is currently $13.39 an hour.

These new programs are aimed at attracting new residents to the state to grow the workforce and support employers facing labor shortages. Applicants must have certain information and documents in order to submit their application, such as the employer’s name and address, the employee’s address, the name of the employer’s representative (must be the hiring manager), an email address, and a phone number for the employer representative.

Documents that you must submit to apply for the aid

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Applicants must provide an itemized invoice and proof of payment for qualified relocation expenses incurred. However, expenses not yet paid are not eligible for reimbursement.

Similarly, applications and supporting documentation must provide evidence showing applicants’ relocation from out of state, such as a valid Vermont-issued driver’s license, copy of their paycheck stub with Vermont information, and a Vermont home purchase or lease agreement or a state utility bill with a new service address.

The post Social Security payment of up to $4,194 will be sent to qualified individuals appeared first on Mundo Hispanico.

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