Retirement worries grow as seniors face Trump tariffs, stock selloff
Retired educator and part-time yoga instructor Vicki Knight says she feels stretched thin. “I’m semi-retired.” The Marietta, Georgia, resident says her Social Security income is not enough to live on and that a recent stock market selloff fueled by tariff uncertainty has complicated her plans.
Social Security payments for May will soon be distributed to approximately 69 million Americans, including retirees and those with qualifying disabilities.
America’s newly-created Department of Government Efficiency (DOGE), headed by Elon Musk and backed by the Trump administration, is eyeing Social Security as it seeks to cut down on federal spending. The program is seeing job cuts, office closings, a revamped customer service strategy and scrutiny for fraud.
About 7.4 million Americans who are disabled or have limited resources receive monthly Supplemental Security Income (SSI) benefit payments. About half of those who receive SSI also receive Social Security.
Here’s what to know about this year’s Social Security benefits.
Social Security payment schedule for May 2025
The Social Security Administration’s yearly distribution schedules for 2025 and 2026 are available online to allow recipients to use the calendar for budgeting purposes.
Regular Social Security retirement benefits are slated to be distributed on the SSA’s usual schedule:
- Friday, May 2: People who started receiving Social Security before May 1997
- Wednesday, May 14: Birthdates between the 1st and 10th
- Wednesday, May 21: Birthdates between the 11th and the 20th
- Wednesday, May 28: Birthdates between the 21st and the 31st
SSI recipients to get two payments in May
SSI recipients will get two checks in May – one on May 1 (the check for May 2025) and a second on May 30 (the check for June). For months when the first of the month falls on a federal holiday or a weekend, SSI benefits are issued early – June 1 is a Sunday.
What is SSI?
Supplemental Security Income provides monthly benefits to those with limited income or resources who are 65 or older, blind or have a qualifying disability. Children with a qualifying disability can also get SSI, according to the SSA’s website.
Adults who qualify for SSI generally do not have monthly wages above $2,019.
Those eligible for SSI can begin the application process online, in person at your local Social Security office, or by calling 1-800-772-1213 (TTY 1-800-325-0778) from 8 a.m. to 7 p.m. local time during the work week.
SSI payment schedule for 2025
SSI checks will be sent out on the following dates remaining in 2025, according to the SSA calendar:
- Thursday, May 1, 2025: May payment
- Friday, May 30, 2025: June payment
- Tuesday, July 1, 2025: July payment
- Friday, Aug. 1, 2025: August payment
- Friday, Aug. 30, 2025: September payment
- Wednesday, Oct. 1, 2025: October payment
- Friday, Oct. 31, 2025: November payment
- Monday, Dec. 1, 2025: December payment
- Wednesday, Dec. 31, 2025: January 2026 payment
My scheduled payment date passed without payment. What do I do?
The Social Security Administration suggests that if you don’t receive your payment on the expected date, allow three additional mailing days before contacting the agency; most arrive on time because 99% of beneficiaries are paid electronically.
Social Security offices in New York
For those looking to visit an SSA office, here are some locations in New York (excluding NYC and Long Island):
- Albany County: 11 A Clinton Ave., Room 430, Federal Building
- Broome County: 2 Court St., Suite 300, Binghamton
- Erie County: 478 Main St., Suite 200, Buffalo; 1900 Ridge Road, Suite 120, West Seneca
- Monroe County: 200 E. Main St. (second floor), Rochester; 4050 W. Ridge Road (second floor), Greece
- Onondaga County: 100 S. Clinton St., Federal Building (fourth floor), Syracuse
- Westchester County: 1 Park Place, Peekskill; 297 Knollwood Road, White Plains; 20 S. Broadway, Suite 500, Yonkers
When can you start collecting Social Security?
Everyone can start receiving reduced Social Security benefits as early as age 62. However, waiting until full retirement age results in a larger monthly payment. That age has gradually increased in recent years, rising by two months for each successive birth year. For example, if you were born in 1958, your full retirement age is 66 years and 8 months, while those born in 1959 will reach it at 66 years and 10 months.
According to the SSA, individuals born between May 2, 1958 and February 28, 1959, will reach their full retirement age in 2025. For those born in 1960 and later, the full retirement age will increase to 67.
USA Today contributed to this report
Source: When will your Social Security benefits arrive in May? See 2025 payment schedule
