Staff Reports
This month’s Social Security payments are rolling out, but don’t expect the Biden Administration to make this easy. With all the chaos coming from D.C., retirees might feel like they’ve stumbled into a sitcom rather than a straightforward government program. The checks come in waves, and just like the government’s knack for complicating simple things, the timing hinges on when you were born—because apparently, when one enters the world determines how quickly the government can cough up cash.
For retirees born between the 1st and 10th of the month, the checks hit bank accounts like an early Christmas bonus—those lucky souls already received their payments last week. But for those born from the 11th to the 20th, the wait continues until November 20. The grand finale is reserved for those born on or after the 21st, who will be twiddling their thumbs until November 27. How charming of the Social Security Administration to turn what should be a straightforward payment process into a suspenseful game of financial roulette!
Disbursement Update to County Governments.
As of November 18, 2024, the National Treasury has fully disbursed funds to county governments.
A total of Ksh.158,024,092,590.00 has been disbursed so far for the Months of June (arrears), July, August ,September and October.
So… pic.twitter.com/1FAedb9NyP
— The National Treasury & Economic Planning (@KeTreasury) November 18, 2024
If anyone is wondering how to squeeze the most moolah out of the government before the fiscal Grim Reaper arrives, it turns out how and when you retire makes a difference. Those eager to dip into retirement cash at the tender age of 62 can rake in up to $2,710 a month. But for the patient souls willing to hang around until age 70, there’s a hefty $4,873 waiting for them! Talk about financial gymnastics. And for the mathematically challenged, there’s an SSA calculator available, though one might wonder if using it means giving in to government-approved tech.
Eligibility for Social Security kicks off at the ripe old age of 62, which might feel like a cruel joke, considering the burden of rising costs and inflation that the current administration loves to ignore. It’s almost as if the government is telling millions of Americans: “Wait, and you’ll receive a smaller slice of the pie—if there even is pie left by the time you retire.”
Speaking of pie, let’s talk about how this whole operation is funded. Here’s a kicker: Social Security is primarily sustained by a payroll tax, which plunders the hard-earned wages of both employees and employers. With America facing a demographic shift—the baby boomers are retiring in droves—analysts are waving their warning flags, predicting that by 2034, the Social Security pot may not only run dry but could serve up only crumbs to beneficiaries. In a world where politicians prioritize spending sprees on everything except what matters, it’s no surprise that the future of Social Security looks murkier than ever.
