The last batch of Social Security payments for March is rolling out today, with some recipients seeing checks as high as $5,108.
While regular payments are based on birth dates, certain beneficiaries could also receive a surprise retroactive bonus thanks to recent policy changes.
Who’s Getting Paid Today?
The Social Security Administration (SSA) follows a staggered payment schedule each month, with payments issued based on recipients’ birth dates. Today’s deposits are set to hit bank accounts for those whose scheduled payday falls in the final round of March distributions.
However, beyond the usual payments, a new policy change could mean extra money is on the way for millions of Americans.
Retroactive Payments Could Mean a Big Boost
Due to adjustments under the Social Security Fairness Act of 2023, certain beneficiaries may qualify for one-time retroactive payments, along with an increase in their regular Social Security income starting in April.
The key policy change? The repeal of the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP), rules that previously slashed or eliminated benefits for those who had government pensions.
This move could positively impact around 3.2 million Americans, particularly teachers, firefighters, police officers, and other public-sector workers who saw their Social Security payouts reduced because they received a pension.
Now, those affected will receive back pay for missed benefits, with lump-sum retroactive payments expected by the end of March.
How Much Extra Could You Get?
The SSA has not specified exact figures for retroactive payments, as individual amounts will vary depending on how much was previously withheld. However, for some recipients, the extra money could add up to thousands of dollars in long-overdue benefits.
April Payments Will Reflect These Changes
For those eligible, April’s Social Security checks will be higher, reflecting the removal of GPO and WEP reductions. If you were affected by these offsets, check your SSA account or contact the administration to confirm your eligibility.
What Should You Do If You Haven’t Received a Payment?
- Check your SSA account online for payment updates.
- Review direct deposit details to ensure they are correct.
- Contact SSA directly if you believe you qualify for retroactive benefits but haven’t received them.
With today’s final March payments landing, some recipients will finally see long-overdue relief. If you’re eligible, keep an eye on your account balance, your retroactive bonus could be on its way soon!
