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Social Security Administration schedules final August payment round for 71 million beneficiaries

The Social Security Administration will distribute the final round of August benefits this week, following a standard payment schedule. Beneficiaries born between the 21st and the 31st of the month are scheduled to receive their payments on Wednesday, August 26. This follows previous rounds issued on August 12 and August 19, which targeted recipients based on their birth dates. The program supports over 70 million Americans, including retired workers, survivors, and those with disabilities. While the average retired worker received approximately $2,086 per month in 2026, the system faces a projected shortfall as early as 2032. To address this, various groups have proposed solutions, such as a Washington think tank's suggestion to cap annual benefits at $100,000. Additionally, the administration announced that Supplemental Security Income (SSI) payments will be issued on September 1. The SSA also noted a 2.8 percent cost-of-living adjustment for 2026, while the 2027 adjustment is expected to be announced in mid-October.

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