As December 11, 2024, approaches, it’s crucial for Social Security Disability Insurance (SSDI) beneficiaries to understand the specifics of their final payment for the year.
This date marks the last disbursement for individuals born between the 1st and 10th of any month. Notably, this payment will not include the upcoming 2.5% Cost-of-Living Adjustment (COLA), which takes effect in January 2025.
December 11 Payment Details
The Social Security Administration (SSA) schedules payments based on beneficiaries’ birth dates:
- Birth Dates 1st–10th: Payment on the second Wednesday of each month.
- Birth Dates 11th–20th: Payment on the third Wednesday.
- Birth Dates 21st–31st: Payment on the fourth Wednesday.
For those born between the 1st and 10th, the December payment will be issued on Wednesday, December 11, 2024. This payment concludes the 2024 schedule for this group and will reflect the current benefit amount, excluding the forthcoming COLA increase.
Understanding the 2.5% COLA Increase
The SSA has announced a 2.5% COLA for 2025, aimed at adjusting benefits to match inflation. This adjustment will be applied as follows:
- SSDI Beneficiaries: The increase will be reflected in payments starting January 2025.
- Supplemental Security Income (SSI) Recipients: The increase begins on December 31, 2024.
Therefore, the December 11 payment will not include the COLA adjustment; the enhanced benefit will commence with the January 2025 payment.
Financial Planning for Year-End
Receiving the final 2024 payment without the COLA increase necessitates careful financial planning:
- Budgeting: Allocate funds to cover expenses until the increased payment arrives in January.
- Awareness: Be mindful that the December payment remains at the 2024 rate.
Proper planning ensures financial stability during the transition into the new year.
Summary of Key Information
| Detail | Information |
|---|---|
| Payment Date | December 11, 2024 |
| Eligibility | SSDI beneficiaries born between the 1st and 10th |
| COLA Increase | 2.5% effective January 2025 |
| First Payment with COLA | January 2025 |
| December Payment Amount | Reflects 2024 rate, no COLA adjustment |
The December 11, 2024, payment is the final disbursement for SSDI beneficiaries born between the 1st and 10th, concluding the year’s payment schedule.
This payment will not include the 2.5% COLA increase, which begins in January 2025. Understanding this timeline is essential for effective financial planning as the year ends.
Will the December 11 payment include the 2.5% COLA increase?
No, the COLA increase takes effect with the January 2025 payment.
Who receives the December 11 payment?
SSDI beneficiaries born between the 1st and 10th of any month.
When will the increased payment reflecting the COLA be received?
The first payment with the 2.5% increase will be in January 2025.
