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|May 6, 2009 - Stimulus Payments to Social Security Recipients Begin May 7|
WASHINGTON, D.C. -- Congressman Sam Farr (D-Carmel) announced today that one-time, $250 economic recovery payments for Social Security recipients will begin to be distributed on May 7. These payments were included in the American Recovery and Reinvestment Act signed in February and are aimed at helping those most at risk.
"By the end of May, around 77,000 Social Security recipients on the Central Coast will receive their payments, injecting nearly $20 million into our local economy and providing important support for many individuals on a fixed income," Rep. Farr said. "Payments to SSI and veterans benefits will also start in the next month."
The Social Security payments should all be distributed by the end of May. Also this month, Supplemental Security Income recipients will begin to receive their $250 one-time payments, meaning another 7,000 individuals on the Central Coast will receive a total of nearly $2 million. Individuals who receive funds from both programs will only receive one check.
"These checks can make a real difference to the lives of millions of older and disabled Americans, groups often hit the hardest by an economic downturn," Rep. Farr said.
In addition to the economic recovery payments being made to Social Security and SSI recipients, the Recovery Act also provides these payments to disabled veterans and Railroad Retirement recipients. The payments to Railroad Retirement recipients are scheduled to begin to go out in late May and the payments to disabled veterans in June. In total, more than 50 million Americans will get this one-time payment.
Social Security is the only source of income for nearly one-third of all nonmarried seniors receiving Social Security. The median annual income for nonmarried Social Security recipients over age 65 who are women is only $13,151. The median annual income of nonmarried Social Security recipients over age 65 who are men is only $17,611.
Nearly 30 percent of nonmarried Social Security recipients who are women over age 65 are poor or near-poor, with 17.4 percent living below the federal poverty line and another 10.8 percent with incomes below 125 percent of the poverty line.
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