July’s Supplemental Security Income payment, worth up to $967, will go out to millions of beneficiaries in 11 days. The next SSI payments are scheduled to be distributed on July 1. SSI payments are given to people living with debilitating disabilities that affect their income,

T he Social Security Administration (SSA) sends out benefit checks to about 70 million Americans each month. The amount each person gets is based on things like how much money the

The cost-of-living adjustment, commonly referred to as COLA, has been a long-standing element of Social Security benefits, being put it in place in 1975. The adjustment is designed to keep payments in line with inflation so that the purchasing power of benefits is not eroded over time.