The federal government will soon stop issuing Social Security payouts for the month of June.
Every month's fourth Wednesday marks the start of the distribution of the final batch of checks.
Depending on their birthday, every Social Security recipient cashes their checks on a different day.
The Social Security payouts have increased by the most that has ever been seen over the past 40 years.
According to COLA projections, 2023 will have an increase over 2022.
On each month's third Wednesday, the Social Security Administration mails benefit payments.
The initial payment distributions started on June 8 and the final payment distribution occurs on June 22.
The 2022 Social Security income increased by $92 over the prior year in accordance with the COLA rise. $1,657 per month was the entire benefit amount.