May looks good for seniors who receive Social Security, as Vice President Joe Biden recently announced that an additional $250 will be mailed to seniors over the course of the month.
According to the Social Security Administration, seniors don't have to do anything to register for the benefits. Instead it will arrive as a separate check along with their regular May social security payment, earlier than mandat
ed by law, the SSA added.
Biden sympathized with those living on a fixed income, saying that the payments will help those who "have been hit especially hard by the economic crisis that has swept across the country."
Some seniors will not be eligible, however, as payments will not be issued to those receiving Medicaid who live in nursing care facilities.
The $13 billion will also provide funding for similar checks issued to those who receive benefits from Veteran's Affairs and Railroad Retirement Board accounts.
The payments follow a plan from the Obama administration that allowed for "recovery rebate credits" on 2008 tax returns for those who did not receive $600 when filing as an individual or $1,200 when filing jointly last summer.