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## Cyclical Payment of Social Security Benefits

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     Cyclical payments began in June 1997. Previously, regular monthly      payments were made only on the third of the month (or on the first prior     business day when the third was not a business day). These payments continue to be     made in certain circumstances and are called "cycle 1" payments.

      Cycle 2, 3, and 4 payments are made on the second, third, and fourth Wednesdays,      respectively, of each month. Such Wednesday payments generally are made      to people who filed for benefits after May 1997, with the particular     Wednesday dependent on a beneficiary's birthday.  Beneficiaries whose     birthdays are on or before the 10th of the month receive their benefits      on the second Wednesday, those born on the 11th through the 20th receive      theirs on the third Wednesday, and the rest receive theirs on the fourth Wednesday.

Cycle 1 payments apply in the case of beneficiaries who filed before June 1997,      and continue to apply (regardless of filing date) to those who are current      recipients of Supplemental Security Income (SSI) benefits or who reside in      a foreign country.

      The growth in the percentage of beneficiaries      receiving benefits on the 2nd through      4th Wednesdays depends on - the rate at which new beneficiaries are coming on the rolls versus      those leaving (the turnover rate), and
- the percentage of beneficiaries who are concurrent SSI recipients.
      The higher the turnover rate, the faster the growth in the percentage      receiving cycle 2, 3, and 4 payments. The higher the percentage of       beneficiaries who are concurrent SSI recipients, the slower the growth in      such cyclic payments.      

           The graph below shows the growth, by trust fund, of payment amounts made on      the second through fourth Wednesdays of each month as a percentage of total      cyclical benefits.  Click on the graph for underlying data.

      Compared to the OASI program, the DI program has faster turnover but       a greater percentage of concurrent SSI beneficiaries. Thus one factor      tends to cancel out the other one, and, as shown in the above      graph, the growth in the percentage of beneficiaries receiving cycle       2, 3, and 4 payments by program (OASI versus DI) reflects these       opposing forces.      

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