The change will primarily affect a small group of beneficiaries who have not made the switch to electronic payment methods yet, per the SSA. Less than 1% of beneficiaries are enrolled in paper checks and are encouraged to enroll in direct deposit or opt for the Direct Express card to receive their monthly benefits on time.

Recently, the One Big Beautiful Bill Act (OBBBA) was passed, and with it came a big tax break for seniors. But financial guru Suze Orman warns that this change doesn't necessarily mean that retirees will get out of paying taxes on Social Security.

The Supplemental Security Income (SSI) benefit payments will be distributed twice in August - on Friday, Aug 1 and on Friday, Aug. 29. The second August payment is scheduled because the first day of September lands on a holiday - Labor Day.

No Social Security payments are scheduled to go out this week. The Social Security Administration (SSA) distributes monthly benefits to retirees, people with disabilities and the families of deceased workers. Because there are multiple payment types and about 70 million beneficiaries, not everyone receives their money at the same time.