Received extra social security retirement payment in October -

[cilla4progress]

has anyone else experienced this?

Looks like my account with them is wrong because it says they sent me $70 plus $850 on 10/14. My bank only shows $70. My usual date to receive payment is 4th Wednesday.

[montanacowboy]

1. You always get a little extra

payment in the fall after they have recalculated all your income, etc. I got a whopping $18! But I don't know what the $850 would be since your regular SS payment comes due on the 4th Wed. of the month.

[cilla4progress]

3. Thanks!

I thought I recalled that about a little extra in the fall because my income is variable.

But yeah.. the bigger payment. Not showing up at my bank so may be an error.

I've emailed them.

Thanks again!

[euphorb]

2. Are you still working? Or were you in 2021?

If so, your monthly payment is recalculated based on the previous year’s income, because your payment is based on your 35 highest income years. Divide the special lump sum payment by 9. That is the increase in your monthly payment and will be applied to your Nov and Dec. payments. The 8.7% COLA increase will be applied on top of that beginning in Jan 2023.

[cilla4progress]

5. Yes, I am, and my income varies

widely, as I own my own business. I had a relatively good year last year.

Thanks!

[euphorb]

4. The lump sum payment is the increase applied to

The first 9 months of 2022 (Feb through Oct — payments are always one month in arrears).

[cilla4progress]

6. Do you think the larger payment

just hasn't hit my bank account yet, since it's not showing at my bank?