Social Security One Time Economic Recovery Payments
One Time Economic Recovery Payments are on the Way
This month the Social Security Administration began issuing one-time payments of $250 to about 50 million Social Security benefits and Supplemental Security Income (SSI) Benefits. The payment will come separately from the beneficiary’s monthly payment. If the beneficiary gets their monthly payment by check then their one-time economic recovery payment will come by check, if the beneficiary gets their monthly payments by direct deposit their one-time economic recovery payment will come through direct deposit. The $250 payment will not count as income or resources for SSI recipients. The Social Security Administration has a website about the One Time Economic Recovery Payments: //www.ssa.gov/payment/.
In June, the Veterans Administration will begin issuing these one time payments of $250 to eligible Veterans and survivors. These beneficiaries will also get their payments in the same way they get their monthly benefit payments. In addition to the these one-time payments, the Veterans Administration will hire additional claim processors to help reduce the wait time for decisions on Veteran’s benefit claims. Information about the Veterans Administration’s plans can be found at: //www.va.gov/recovery/.
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