Millions of Social Security beneficiaries to get $250
The Check Is in the Mail: Senior Stimulus Payments to Begin Arriving Today
Millions of Social Security beneficiaries to get $250
By: Carol Simons | Source: AARP Bulletin Today | May 7, 2009
More than 52 million Social Security beneficiaries will today begin receiving an extra $250 payment, as part of the effort to reinvigorate the American economy and boost consumer spending. The additional bonus check, which also will be sent to older veterans and railroad retirees, is part of the $787 billion American Recovery and Reinvestment Act—the so-called stimulus package—passed by Congress and signed by President Obama on Feb. 17.
You won’t have to file any forms to get the money. Payments will show up through May as an extra check or an automatic bank deposit, depending on how you receive your benefits. Couples who are eligible will receive a total of $500.
A spokesman for Social Security says those who usually get their benefit checks during the first week of the month will be the first to receive their additional payment, which could be as early as today.
No one knows yet what recipients will really do with their $250, but that hasn’t stopped the Social Security Administration from asking. On April 9, the SSA posed the question on its website. So far, more than 4,000 people have responded. Their answers suggest that recipients are likely to go out and spend their windfall—exactly what the plan’s architects hoped for.
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